Technically it is forming a lower high lower low structure which indicates that the stock is in downtrend and with this it is also facing a downward resistance trendline and this can be seen when the inverse head and shoulder formation was formed and it failed to break through the trendline and thus eventually created a false breakout. Thereafter we can see an...
✔Gold was holding 50200 since mid of May. It held this level at three occasions (see chart) but finally broke it in the mid of September. ✔So, a lot of traders who bought at 50200 support, with stop loss underneath this level, were shaken out in this breakdown. Most would have reversed their positions to short. Gold revisited 50200 in a retest attempt and this...
Bank Nifty Rejection from Trendline / Resistance with possibility of Taking Short trade for this Expiry
PFC is in a channel pattern on 1 moth TF since 2010. On a Daily TF it is following a downward trend line and recently formed a bearish engulfing candle at the trend line, so it could be a good opportunity to short. Short term target: 104 (next strong support). Long term target: 80-85 (monthly channel support). P.S: If market continues uptrend then we might need...
POSTED 10.02.2022 for KRITI INDUSTRIES above 123 for a Target 128. Today 11.02.2022 stock couldn't break the Trend line to reach buy level. Market turned out to be bearish due to higher inflation in USA and more increase in fed interest rates.Market will continue to be volatile as DII are in buy and FII are in sell mode. Will update for any stocks only market...
Short < 1338 Stop-loss > 1403 Target 1000 Risk/Reward 1:5 Piramal Enterprise - Price broke the upward trendline on 4th September and pullback but faced trendline resistance at 1403 and fall back. Price made a bearish flag and breakout of the same is a shorting opportunity. On a daily chart, the price made a lower high followed by a recent lower low and that...
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...
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. Disclaimer: Views...
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...
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 bank NSE: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. Disclaimer:...
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 Tech NSE: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...