Tradingviewindia
NIFTY What's nextNIFTY 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 created on the the 20th.
HINDALCO (BEAR, SHORT TERM)Chart: 2HR
RSI: Bearish divergence
Channel: Upper end
A 6% drop can be expected.
Use your own SL levels (prefer), if confused follow the mentioned levels.
CMP: 207.2
Expected Level: 194.55
SL: 219.85
(This is only my opinion, not financial advice. Consult your financial advisor before making any decision based on it)
Animesh Vashisht, CFTe
BANKNIFTY the larger picture-swing traders#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