Analysis:-
- Previous week ending 5th April was bearish for HUL. Then a green Doji on 8th April showing indecisiveness against the bears. This was followed by bullish candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in downward channel for past two months. Finally appearing to...
The pair has made a double bottom in the hourly chart.
It can retrace to support at 1.03147, for now, which is a good entry point for long trades.
We expect the pair to move to the resistance at 1.03523.
This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations :
1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and...
After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT.
IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today.
Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins.
I can see that IT index...
In daily, there was a long consolidation and BB squeeze. Now price closed at UC with very high volume, and BB has started expanding. also regular bullish divergence seen here.
with sl - 72, tgt - 150
In monthly, price took support at long term support , also trend line resistance broken here
in weekly, regular bullish divergence formed here. also price started pushing upper BB upwards with high volume
with a sl - 133, 1st tgt - 193, 2nd tgt - 240 3rd tgt - 300
It is in long term uptrend.
In daily, it broke out of descending channel with good volume, also price closed above upper bb and bb is expanding and reversing .
In weekly, hidden bullish divergence is seen.
also price has reversed from horizontal support zone....
It is been observed that the price action is indicating a strong support at 600-630 levels, where good buying shall be seen. Therefore, now the price action shall reverse from the support zone to move forward to next resistance levels of 665-670.
Target: 665
Stoploss: 600
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