- trading in ascending channel since Feb 2016
- currently at lower end of channel
-trading below 50 day EMA
- trading below 200 day EMA
View going forward
- stock is at major trendline support & if the stock holds on to current level then
- the stock may see a bounce towards either 50 day EMA currently around 278 or...
Last time when stock was at 482, we were not very confident for a big move past 505.
The stock made a high of 509, came down till 466 and is now back at 483 levels. How ever this time the chart looks much better.
After the stock made a low of 432 on...
The stock will see demerger of shares and will be divided into 4 verticals in October viz:-
- power genreation
- power distribution
Now coming back to charts
On weekly charts the stock has given a nice breakout and the stock may be heading towards 1160-1200 zone
Immediate Support at 1023-1030
Stronger support at 996-1003...
One of the best stock in banking sector for trading and also for portfolio permanent membership as per my reading about stock movement and managements future projection. Stock is in nice up trend which has started from 600 level. Stock is trading in a narrow range after breaking out of its three digit mark. After making its life time high stock price has retrace...
- Last year on 31-May-2016 the stock opened with a significant gap up & closed at 459 up 38 points from its previous day close of 421
- This year On 8-Aug-2017, the stock opened significantly lower and closed at 380 down 36 points from its previous day close of 416
- the gaps have occurred from similar levels 421 and 416 respectively...
Infy CMP 899.50
In the previous post when Infy was at 878 we had mentioned that the stock is likely to bounce towards the zone of 930-960 zone.
Despite Infy offering Share buyback at 1150...
despite Infy seeing the return of respected Nandan Nilekani on the board...
Nifty CMP 9872
- initial down trend from 10137 to 9685 levels
- Nifty has gone in to consolidation there after
Nifty has to break 9800 decisively to give confirmation of continuation of down trend
Target for the pattern 9380-9360 zone
Stop can be placed at 9930
Risk::Reward ratio is 1::8
This is a positional view and not a day trade...
Stock is in nice up trend and trading near its resistance area which is at 185-189. This is fourth time stock has come to test this resistance zone. If price manage to clear this zone of resistance with good volume then we are open for more 20 to 25% up side in price.....Keep watching and stay invested.
Since the rise from 9455 to 10137 levels Fibonacci levels have played a vital role is identifying key support & resistance levels...
Levels------------------------------------ Fib retracement-------------------------- Fib Level
- closing low at 9710----------------- 61.8% of 9448-10137 -----------------------9711
- high of 9947...
Prima facie looks like has completed it's Impulse 5 Wave
Can come down to 18.50 levels in this corrective phase...
Pattern gets invalidated above 23.50
Take care & safe trading...!!!