Stock exhibits sustained weakness in Weekly time frame. Falling Trendline holds valid and rejections have been pretty strong whenever the stock hits it.
Currently the stock has hit the Trendline again wherein we could also spot 38% FIB retracement adding strength to the resistance.
Though the above points guides us to take a strong bearish view, we need to be...
The market seems to have come to its senses after the post news profit booking rally, friday.
It has broken its bullish trendline in the 15-min chart, indicating dwindling buying momentum.
To add to it, the ADX indicator has also turned bearish.
Hence, we expect the arrival to bears in the counter and the pair to make a move to its intraday support at 0.66195.
The Japanese central bank meeting has brought a halt to the rally in the counter.
Technically, the pair has broken its bullish trendline.
It also failed to hold the breakout of a critical resistance of 111.805.
So, the resistance is back into play and the broken trendline will add to the woes of the bulls.
Hence, we expect the pair to be bearish and move to the...
The pair plunged from the top with a great momentum.
Now, it has hit the brick wall which has been its long-term support zone.
And as expected, it has bounced back sharply too and in the due process it has broken the bearish trendline.
Hence, a profit booking rally seems imminent. So, traders can buy on the short-term pullback (dips) and expect a rally to the...
The support of 0.68840 proves to be a tough nut for the bears.
After bouncing back sharply twice, the pair was under the cloud of a bearish trendline for 5 months, which has broken now.
Also, the pair found support at 61.8% of the previous rally, which is a strong bullish sign.
Hence, we expect the trade with bullish bias. The next levels to watch out for are the...
The Index has broken the trendline which paved the bull rally for the past 10 days.
It is consolidating below the trendline and there is a slight chance for a pull back rally to test the broken trendline.
However, the break could trigger a profit booking rally and the index is set for a bearish move for now.
The trendline in the 15-min chart has run its course with a strong bearish candle closing below it.
The price is just consolidating below the line for now.
Hence we expect the pair to be bearish for the short term.
Friday's selloff in Kotak Mahindra Bank due to ING's stake sale has taken it back to its supporting trendline.
Seems that it has already broken the trendline slightly, but will look for confirmation to sell it for targets of 1210 and 1170.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your...