BSE:SENSEX has recorded a All Time High today(26-Nov-19) but it was rejected by a trendline that extends from August 2018 till today. If this trendline is broken on a daily closing basis then I am expecting SENSEX to continue to the upside.
TCS NSE:TCS again got rejected at the long term trendline resistance which has been holding strong since Oct 1,2018.
I can see that it formed a long Bearish candle and an Evening Star pattern on Feb 28.
Good opportunity to shot for targets of 1940 and 1920 with stop loss a few points above the downward sloping trendline.
Disclaimer: Views expressed here are my...
Maruti NSE:MARUTI has again been rejected at the long therm downward sloping trendline.
Also, Friday's large Bearish candle erased all of Thursday's gains and looks like there is a formation of an Evening Star like pattern.
The stock may reach earlier support levels of 6700 and 6500.
Good to short here with stop just above the trendline.
Infosys NSE:INFY has been in a downtrend since October making lower swing highs.
I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle.
Shorted here with stop loss a few points above the trendline resistance for a first target of 625.
A deeper correction can take it to 610.
Disclaimer: Views expressed here are...
Kotak Mahindra Bank NSE:KOTAKBANK got rejected at the long term upward trendline after a good pullback.
I think it is heading back to 1118 levels.
Break of 1118 can even take it to 1050.
Good opportunity to short with stop loss a few points above the trendline.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...
After a very swift rally from 257 to 345 levels, looks like profit booking is due in ICICI bankNSE:ICICIBANK.
I can see that the stock has failed to clear major trendline resistance and also got rejected at 78.6% of its previous downmove.
Good opportunity to short here with a stop loss just above the trendline and a target around 311 levels.
IndusInd bank made a lifetime high around 2040 on August 3, 2018.
However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path.
I can see that the stock got rejected at its long term trendline resistance and is slowly moving down.
Good opportunity to go short with a stop loss of...
After a rise from the lows of 881 to 1022 levels, looks like HCL TechNSE:HCLTECH has topped out signaling the end of countertrend.
I can see that the stock has got rejected at the trendline resistance and also at 61.8% retracement of the previous downmove.
Also, it has formed an Evening Star like pattern today as well as on July 13.
Good opportunity to short...