Support and Resistance
NiftyA probable wave count (I can be wrong). Almost 80 percent retracement is done. 3rd impulsive is running. So it is possible that the resistance of the previous high will be reached. Momentum is very bullish. OI Table: If price remains above 11500, 11600 can be attempted.
HINDPETROHINDPETRO is looking good but the 290-300 level is big obstacle for this stock by comparing previous months so it can make a good move on above 300. still need to wait few days to get confirmation.people can buy this stock who can average if it goes down. but overall trend positive.......share your view as a comment please.....
BPCLThis is for Study and Educational Purpose and for my individual learning.
BPCL was in down trend.
The trend has now chaged
Its been moving up for quite sometime and broken the downward trendlines.
SUN PHARMA CAN SEE SELLING AT RS. 480 - RS. 500 LEVELSSUN PHARMA BULLISH ONLY AFTER BREAKING THROUGH RESISTANCE LEVELS OF RS. 480 - RS.500
RIGHT NOW MAY CONSOLIDATE FOR SOMETIME
BREAKOUT ABOVE RS. 500 CAN SEE BELOW LEVELS
TARGET 1 - RS. 536
TARGET 2 - RS. 556 - RS. 564
(CAN SEE STRONG UP MOVE FROM HERE)
SUPPORT RS. 410
STRONG SUPPORT - RS. 390
AXISBANK - Will the LongTerm trendline survive this correction?Stock has been following the green line but the bull market seems to have topped at 650 - 680 band. A strong closing above the Red line may take the stock to 840 980 levels.
A consecutive weekly closing below the green line may trigger a huge correction which is not very far off.
Will the stock respect the trend this time? Only time will tell...until then lets wait and see
ICICIPRULI at a crucial resistance levelNSE:ICICIPRULI is approaching a very crucial long term trendline resistance. There is a prior gapdown, Monthly Pivot R1 and Fib 0.618 acting as confluence of resistances. Highest Call OI is at 340 strike price. For more updates join our telegram channel t.me
ICICI - POTENTIAL REVERSAL IN MAKING
ICICI BANK IS LIKELY COMPLETED DISTRIBUTION PHASE AND PROBABILITY FOR DOWNWARD BREAKOUT IS VERY HIGH
DIVERGENCE CAN BE SEEN IN WEEKLY AND DAILY TIMEFRAME
YESBANK - UPTREND PROBABILITY HIGHTARGET 1 - RS. 286
TARGET 2 - RS. 320
SUPPORT 1 - RS. 221
STRONG SUPPORT ZONE - RS. 208 - RS. 212 (IF THIS SUPPORT IS BROKEN THEN SENTIMENT CHANGE CAN BE SEEN AND RS. 170 LEVELS IS POSSIBLE)
Yes bank is in Consolidation Phase and Most likely Breakout Most Likely Breakout to Upside
If Breakout above Rs. 230 - Rs. 235 with good volume can take Share Value to Rs. 230
Note: False Breakout if does not hold Resistance turned Support trend line
BEML reversed from strong resistance zoneNSE:BEML reversed from strong resistance zone 940. Monthly Pivot R2, Natural Resistance, highest call oi at 940 and shooting star pattern
BAJFINANCE Near Strong ResistanceNSE:BAJFINANCE is near strong resistance. Trendline resistance, Monthly Pivot R1, Highest Call OI at 2800 and dark cloud cover candlestick pattern
MIDCAP MANIA MIGHT COME TO A TEMPORARY HALT!!!Midcaps have had a smart up move since the past fortnight and the Midcap index has reached a level where in it had faced resistance and went through distribution and gave way. Today at the day's close, it reached the same level and formed a Doji kind of pattern which indicated indecisiveness. The Rsi has reached a level where in a pullback on the downside might not be ruled out. Also on MACD , as it is a lagging indicator you might see it converging on the down side in the days to come.
There is a possibility the index might move up a bit or stay sideways but a lot of Midcaps gave way in today's trade and that could be an indication of things to come.
Be safe , book your profits!
Divis Lab sitting right at the support1550 is a confluence of supports with horizontal, trendline and 50 EMA support. Highest Put OI is at 1500.
Titan forming a symmetric triangle with multiple resistancesSymmetric Triangle in formation in Titan with Central Pivot, Bollinger Upper Channel, Fib 0.5 acting as resistance. Prior trend is slightly bearish.
Hindalco Approaching Strong Trendline ResistanceNSE:HINDALCO is approaching a longterm trendline resistance with fibonacci 0.618 at the same zone. Sustaining above this line will take the stock to 212. U-turn from here will take the stock to 190.
CEATLTD Is Bullish Above 1150NSE:CEATLTD formed double bottom pattern with 1138 as its neckline. RSI Bullish Divergence can also be seen with pivot R1 of this month and prior gapdown acting as resistance. Highest call OI is at 1150. So, based on above observations NSE:CEATLTD will be bullish if it sustains above 1150 with good volume. If it reverses from R1, it can fall until Central Pivot Point.
ACC is at a Major Resistance 1500NSE:ACC looking bearish as it approached major resistance level of 1500. Trendline resistance, Supply area, Pivot R1 of this month, Fibonacci 0.618 are acting as confluence of resistances. Highest Put OI at 1500 strike. A bearish candlestick pattern will confirm the reversal and bearishness. If it reverses, 1394 is expected.
Jublfood Sitting right at a very strong supportJublfood is sitting right at confluence of trendline supports and Fibonacci 0.618 support.
First channel on Nifty monthly chartI just realized that entire history of Nifty50 can be seen as three neat patterns on monthly chart. This is the first chart for the first 13 years of the exchange and the index. It gave a healthy return of 15% per annum, when banks deposits also gave lower double digit returns.
I personally don't believe anyone could have recognized the pattern and invested to beat others. However, one could argue that the pattern was obvious by late 1990s.
