tradingview

Trading in the narrow zone

KEEP EYE ON BPCL AND ADD YOUR WATCHLIST

Immediate inflection point is the levels of 30640-700 on the futures a test and hold into that is a good opportunity to take shorts.

- Levels are indicated in the charts - Wait for 1200 levels before hopping in

- The best level to buy will be around Rs. 165 - However, my advice will be don't jump, let the dust settle since the auto sector is still far from recovery

- Maruti has broken its strong support zone at 6500 - Volume doesn't seem to drop anytime sooner - Looks like there is more downside, which can reach to levels of 6000

- Trading is fun when it is kept simple rather infesting with a lot of indicators - Maruti is taking support from weekly levels - A decent V is formed in volume chart which falls near the resistance and starts rising near support levels - RSI is hovering near the oversold region - Although Auto sector is quite mild compared to other sectors, however, bottom...

- the stock is facing resistance near the levels of 520-525 - One it decisively breaks-out, 525, it can be bought with the target of 570-75 levels. - Although MACD is converging and RSI also entering overbought zones, it indicates the breakout is not coming any time sooner - The volume is also disappearing, hence if breakdown for 515 levels, the next target...

- Formation of an inverse H & S pattern - Stock to hit 2200 levels before its starts moving in favour of pattern - Macd shows massive divergence - RSI shows negative divergence - Volume is starting pick up on gradual basis

- Broken hourly resistance level - Target 30200

- Natco pharma breaks its monthly resistance levels - RSI showing a massive negative divergence on weekly charts - MACD is signaling negative movement on daily charts - Next target 500

- Rebound from the upper layer of the weekly channel - MACD showing weakness - Negative Volume are on the rise - RSI is still showing positive divergence on weekly chart, byt negative divergence on weekly chart - Target of Rs. 250 by September

NSE:ICICIBANK shorts can be active near 397 398

- The trading decision need not be full of complex indicators, it can be as simple as this one. - Biocon is taking support at the lower end of the weekly channel - Note the volume picks up as soon as it reaches the lower end, a similar rise in volume can be acknowledged - MACD showing an upcoming bullish trend - Look for targets of 740-750

- Excellent stock for entering short - Every time the stock hits its the trend line it bounces back to its 50 DMA which lies somewhere around 770 levels - Note dropping volume, indicating that sellers are taking the toll - RSI is just hovering near to oversold zones - MACD is indicating loss of momentum -

- When everybody is poised for markets to break all time highs, market is about to fill its gap on its way down. - RSI showing negative divergence - Candles is following the declining pattern with due adherence to trend line. - Short term support near 29300

- Basically, it is a sector rotation, from financial services to IT and metals - USD/INR has also bottomed out, hence IT stocks may opt for a rally - Weekly flag breakout as well as positive divergence on RSI - Can look up to targets of 2200 or more

- Metal index has already shown a breakout around levels of 2910 so is Vedanta and Hindalco. - Vedanta has shown a massive weekly channel breakout at levels of 180. - Currently showing a positive RSI divergence with great volumes - If the global rally continues to extend, the commodities/ metals are going to follow up. - If the market has to break the levels...