Taking support after breakout on 18th November is a good sign confirming the institutional presence in the stock. The stock is now setting up tone for a strong move up with supporting volumes and momentum. The RSI is positive into the bullish zone and MACD well above the neutral zone with positive bias. Longer term targets are close to 485 levels!
RBL BANK:Multi Pattern confirmation."W" or Double bottom & Cup & Handle pattern.Looks like current retesting Breakout levels.
Target:380/410
View negated below 312 Closing basis.
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Correction Stock is trading in 100's -have wrongly used 11000+ in the video (11000 is for Benchmark Index -Nifty)- should be taken as 1000+
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USDINR: The currency pair has pulled back in the past week, the last two sessions were positive and the prices managed to close above all resistance and pivot levels. The RSI is into a bullish zone and bounced from the bullish extreme zones. The MACD is positive and above zero. The pair is expected to move higher in the coming sessions. The pair may move to 72.25...
Infy is plaing hide & seek with traders, in the last 3 sessions it formed 3 dojis (tri star doji) these formations comes close to a very high intensity supply zone. While all other IT stocks were faltering infy kept itself tightly clinged to the range, if the range is not taken out buy the buyers in a session or two, it will result into some fast corrections. The...
The stock was into dominant trend up, last few months the stock hasn’t displayed any zeal to move up. Now at a high intensity resistance level, the price consolidated and formed a negative candle pattern. The RSI is into neutral zones creating bearish signs. Macd is into bearish zone. The stock is expected to correct to 1620-1540 levels where it may find support....
CANBANK: Recent rally in public sectors banks have been good and strong. Almost every public sector bank rallied more than 20% from their recent lows. Canbank is now hovering at a resistance point. There is a strong supply area ahead, if the stock fumbles here, there may be a small correction which may rest close to 208 -205 levels, if a breakout is successful...
Today we can find a descending triangle in uptrend given a good risk and reward
find in spot chart
entry @ 11956
stoploss @ 11940
target @ 11978
make a good entry
t.me
Canbank took resistance at multiple resistance zones and pushed down again. Now the stock is just at a minor resistance moving above it will be a positive sign for the stock in the short term and prices may push to 235 levels. However any failure to hold above it will result into continuation correction.
The stock took support at multiple levels, now trading at the KS/TS line, after bouncing off from the clouds. The momentum is positive with RSI resting close to 40. If strength persists the stock may move to 83 levels. On hourly charts it is at a make – break zone.
S/R levels for nifty as nifty is at major level of support if it comes near resistance go short that will be with trend , and if you see any kind of bullish price action near support go lomg. trade as per your own Risk appetite.
In my last Friday’s update I mentioned that we may see banknifty trading at 31000 levels. The index registered a close at 31160 today. Now it’s trading close to a support level the KS line. A major support is at 30600. Most of the time KS acts as a very good support for prices, so a bounce from it is not ruled out. 31600 will be the decider level for coming...
Nifty left behind an important support level. After giving away 12000 levels which was a physiological support level this will act as an important pivot in the coming sessions. Next support can be seen at 11700 (Lead 1) on the charts, expecting some bounce from these levels. Major area of demand is 11420 (hopefully we may visit it). RSI is moving towards 40 levels...
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