Technical
PNB fine tuned Technical. Even though it was 8% RED candle, only 2.92% OI was increased. Naturally, Active FNO Traders had lost their interest. 19446K shares were marked as delivery in 139040K trading volume resulting only 13.99% marked delivery of total volume. If any body analyse marked delivery as well as trading volume, it guides that only Intraday Traders had interest in the counter. Volume was one of the highest during last quarter. They hammered with big volume. Share was hardly recovered from its bottom, as it had short tail of 0.60 in future rates.
One can easily guess that during next session, share shall get followup. Hardly there are scope of recovery until some extraordinary announcement.
Big RED candles has followup. Big means how big? Normally bigger than 2.5% RED candle having huge volume in daily chart, gets followups.
RELIANCE 18 July Week Prediction SELLDue to bad resolution picture might confuse. Image below
Recommendation is sell. Based on technical analysis I predict it will go down with and follow 65 Degree down trend. Based on today (17th July) it might appear other way around and most individual trader might like to enter Long position. This is exactly big fish wants. Expect current week Reliance downward swing.
Caution : Enter Fresh Short position only post observing 18 July 15 Min trend (look for volume to confirm big fish direction)
NSE:RELIANCE
EURUD LongThe pair is currently at the major market structure, we can also see that it reacted very well to the support zone. Expect very bullish trend in the upcoming days after the GDP number release of EUR! The numbers will be positive or neutral for the most part and also since DXY is falling , EU will go up!
Nifty Short Term View. Heading to 10600-10700 Levels.As said in earlier post 10500 done. Markets corrected and looks like formed a bottom at 10260-10250 levels. A close below 10230 would be considered as reversal. Markets may see another life time high in couple of weeks. Anticipating 10700 for now.
DLF update: Did you make the most of fall like 9 pins...???DLF
On 4th Sept DLF charts were suggesting of history being repeated and that we might see lower levels of 173 / 166
Well it has done exactly that....
- we saw the stock bouncing back to 76.4% retracement like on previous occassion...
- getting rejected at those levels...
- and falling back like nine pins...
Target of 166 has been achieved.
Hope you were able to make the most of it...
Regards...!!!
Channel Breakout { Very Bullish }Ujjivan Fin Serv has beautifully took support over the support line and broke the channel with a very big no. of volumes...
Points which confirms Bullishness :
1. Took support on support line and based on that support, It has broken Channel...
2. Very High no. of volumes traded on the last trading day of week..
3. Looking towards higher time frame (weekly) A very Bullish Engulfing candlestick pattern is formed..
Charts are clearly indicating that it may touch 450 zones again...
Targets are 335/350/370/390/420/450+
SL: 305
Risk Reward Ratio is perfect....
Note: Do your own study before making any position...
Please Like, Follow and Comment your views below...