NIFTY has seen a v shaped reversal from a previous top reference point, Key support band is now at 11550-650. should hold that for this rally to sustain.
two potential trade areas: 1. a break above 11760 zones and a hold there for a push to the elusive 12k mark and higher.
2. a break below 11550 for a reversal and retracement back into the rally including the gap...
RSI: Bearish divergence
Channel: Upper end
A 6% drop can be expected.
Use your own SL levels (prefer), if confused follow the mentioned levels.
Expected Level: 194.55
(This is only my opinion, not financial advice. Consult your financial advisor before making any decision based on it)
Animesh Vashisht, CFTe
NIFTY has test a crucial near term reference zones, if it manages to build value lower and consolidate we can break through this zones, else these areas a potential reversal points. potentially earnings will lead the way
#banknifty looking at the monthly profile ( this is from futures charts) gives a good perspective of what is playing out, we are consolidating between last mnths VAH n VPOC.until we clear 30650 or 29800 the play is to trade pullbacks in this range, a break outside this range will likely give a 800-1000 pt move
Monthly chart CNXPHARMA
Price action: Blue arrows show higher top and bottom
Line studies: Price moving out of red downtrending channel
Averages: Support at 200 period EMA in June 2018 and Feb 2019
RSI: Bullish divergence + trending upNSE:CNXPHARMA
Comment: One can consider investing in pharma funds/Etfs with a systematic investment strategy for 5 years (Holding...
From a larger time frame context looking keenly at these 2 zones in the markets. Idea is we ride the trend on the upside as market evolves but be prepared for a failure at the upper zone for a potential reversal or a break out above that for another leg of move.
On the downside a break below the support areas, will lead to a potential correction and rotation back...
I should never try drawing again for sure. :D
Anyway, lets get down to this weekend's educational article.
- ALL ABOUT INDIAN MARKETS INDICES.
Something i feel every market participant, new or experienced, must know about.
BUY PC JEWELLER ABOVE 85
TARGET 97, 110, 136
A disciplined trader should avoid such scripts on regular basis but kabhi kabhi spinner ke sath bhi crease se bahar ana padta hai. :)
1. OBV and PRICE Bullish divergence
2. Healthy candles
3. An upmove followed by a retracement
4. Has started to move up again (Latest candle)
Prefer to Buy to any dip around 206 (Upto you to wait for the dip or enter now, I would wait)
1. Bollinger bands bullish expansion with OBV confirmation
2. Last month HDFC mutual fund bought 10.60 Lac shares at avg price of 184
3. Currently in new highs territory