LT may garner some support for the falling nifty and with help of other stocks can help nifty to gain some momentum on the upper areas tomorrow its expiry weekly so need to keep a close check on such good corrected stocks like reliance axis titan maruti m&m pharma stocks
Expect Bullish Move "If" stock holds in 705-709 zone with strict stops below 695
Sell Below 695 with strict stops above 720
Target - 620 / 630
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Education & Trading Idea
Wedges are a multiple price wave reversal pattern. Wedges form when the waves of an asset move within a narrowing range, angled either up or down.
When the pattern completes, and the price breaks out of wedge, it is usually in the opposite direction...
Mindtree NSE:MINDTREE has been weak since past 3 weeks among the IT pack.
It broke the crucial support at 1100 last week.
Also, there is a Bearish divergence on weekly chart.
Good opportunity to short here with stop loss a few points above 1100 for a target around 930 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an...
After a huge rally that stretched for more than a month, looks like Banknifty has formed a top today.
I can see a Bearish Engulfing candle with a Negative Divergence on Daily chart.
Good opportunity to short here for a target around 27300 levels with a small top loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...
After making a high around 11080 levels on Thursday, Nifty NSE:NIFTY witnessed heavy selling pressure and could not hold on to 11000 levels.
I can see an Evening Star like formation here with a large Bearish candle.
Sold 11100 calls in the morning as soon as it broke 11000.
There are multiple supports around 10900 and 10700 levels.
However, I think call...
As mentioned in a previous idea on Nifty IT, the index appears to have topped out around 14300 levels and is slowly moving towards 13450.
I think many IT stocks like TCS NSE:TCS have also formed an intermediary top, looking at the large Bearish Candle and classic Evening Star reversal pattern that it formed today.
Good opportunity to go short at these levels...
Profit booking seems to have commenced in Sun TV NSE:SUNTV after good Q4 results.
Also, I can see that it has retraced 61.8% of its previous fall from ~ 1100 levels before starting a downward journey.
Looks like a good shorting opportunity to me with stop loss a few points above 1000 and first target near the 903-915 zone.
Disclaimer: Views expressed here are...
JSW Steel NSE:JSWSTEEL has been very strong and came out with a good set of numbers.
However, it has been struggling around 333 since many days.
Now that the result is out, profit booking seems to have started kicking in.
I can see a divergence here with a large bearish engulfing candle that it formed today.
Good opportunity to go short with a stop loss...
IT Index NSE:CNXIT has been moving sideways for past few days.
With election results also out, there is hardly any indication that the correction in IT is over.
KPIT has been struggling around 265 levels.
I can see a Negative Divergence and a couple of bearish candles around the top.
Looking for shorting opportunities in this stock with a stop loss near 270...
Nifty and Banknifty have formed a shooting star pattern today after Karnataka Election Results which may indicate trend reversal.
I am looking for shorting opportunities in relatively weak private sector banks like ICICI NSE:ICICIBANK and Axis NSE:AXISBANK who came up with bad results but have gone up significantly.
Here I see a Bearish candle around 50%...
NSE:DIVISLAB This stock is very volatile and has had a couple of wild runs ... (so one needs to be careful.)
The stock has also completely recovered from its February lows and made a higher high.
However, I can see a divergence here with an evening star pattern at the top.
Good shorting opportunity here with Stop loss of a few points above the recent highs...
Jubilant Foodworks NSE:JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago.
However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits.
With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice...
IndusInd bank NSE:INDUSINDBK has been struggling at 1900 levels for past few days and looks like Bulls seem to be exhausted, unable to get it past this crucial resistance.
With Nifty Private Bank Index also closing at a crucial level today, a big movement from here seems inevitable.
I can see a Negative Divergence on Daily chart with price consolidating near...