We are looking at hourly chart of Nifty.
Result season has officially begun with TCS results out
Let’s see what Data is telling us…
Index Futures
Retail traders squared off 7099 Long positions and added 10005 Short Contracts
FIIs added 7717 Long contracts and squared off 11004 Short Positions
Pro traders added 3776 Long contracts and squared off 1589 Short...
Nifty is at crucial resistance level. This could be make or break levels for Nifty...
Sustaining above could open doors for 18200 odd levels...
Unable to sustain might take it down back to 16800 odd levels.
Be cautious and Stay alert.
Note: This is not for intraday. The range is for the Feb month
Disclaimer
- The view expressed here is my personal view
-...
IOC
Last time when the stock was at 117, we had given a Buy for IOC with target of 126 / 132
The stock retraced exactly from 126 odd levels and is now taking support at 50 day EMA sub 120 odd levels
The stock is showing signs of strength and may be poised for it's 2nd target of 132 and could possibly even test the highs of 141 in medium term
Above 142,...
Vedanta
- The stock has fallen from trendline resistance level
- the stock has come below 20 day and 50 day EMA
the stock may drop towards 316 / sub 300 odd levels
Take care & safe trading...!!!
Nifty
In my previous post, it was suggested that I would prefer not to Short Nifty at current levels of 17280, but I would not prefer to buy Call options as well.
For most part of the last 3 days, it traded in the red gap zone channel, virtually eating away premium of all the Options of 16 Dec expiry.
Our strategy:
In the previous post, 2 levels for...
Nifty
In morning when Nifty was trading well above 17600, this is what we had posted...
We warned about possible downside based on simple understanding of Gaps... We did not get carried away with the positive momentum but simply went with what Technical Analysis indicated us. And boy oh boy... it did not disappoint us at all...😀
It gave us clarity to book...
Nifty
In our previous post we had indicated a bullish stance based on the chart set up....
Accordingly we had shorted Nifty 17000 Put option for 30 Dec expiry around 100.
Today we see Nifty opening with a big gap up and that chart set up analysis did helped us. We have duly booked profits in our trade.
The current set up makes us feel... It's time to be...
Bata
Observations:
- higher top higher bottom since April 2021
- Cup and handle formation
The stock has a Cup & Handle target potential of around 2120, however it should be noted that sustaining above 1895 could also lead to fresh breakout into uncharted territory with further potential of even 2600 odd levels.
Multiple support around 1780 odd levels and 1687...
ONGC
- the stock looks good especially on any dips
- The stock has given a breakout on monthly chart (Breakout zone 115-118)
- Short term Target 150 / 157 / 169
- Medium term target 196 / 212
Please note we do have a positive bias in the stock since November 05, 2020 when the stock was at 67 odd levels and we had given a buy for a target of 114.
Our...
Nifty
CMP 17308
- Nifty is still going up
- however we see Nifty is struggling to keep up with the pace
- From 30 March 2020, we observe Nifty trading in blue channel
- however since 30 March 2021 exactly after 1 year, we see Nifty struggling to stay in blue channel and subsequently it came to the midpoint of yellow channel
- currently it is at the crossroads...
Nifty
On rise, one may look to sell Nifty.
T1 and T2 are highlighted in charts
SL one may keep a SL at 17442 for Nifty
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your...
