BANKNIFTY SETUPAfter a straight downward rally higher possibility of bounce back up to 27000.
Below 26400 it can move up to 26000.(Just Analysis)
Trendreversal
An investment idea in YESBANK on NSE (INDIA)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 now it acted as support after massive fall in price. This support also coincides with 78.6% retracement level on fibo as shown on the chart.
2. Trendline drawn on the chart indicates support with arrows which is yet another confirmation towards likely reversal in trend.
3. Inverted hammer formation in Oct 2018 is another conformation indicating possible reversal. Similar inverted hammer formation was observed in Sep 2013 and there is massive surge in volume at both the occasions as volume bar has engulfed the previous month volume bar (Sep 2013 and now in Oct 2018).
In view of above, it could prove to be an excellent investment idea with stop @ 160 (below the recent swing low) with target @ 368 (resistance drawn on the chart) or beyond.
Happy investing !!! Kindly share views which will help all of us...
Nifty IT – Another leg of correction ?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 formed an Evening Star pattern today with a large Bearish candle.
Even Nifty formed an Evening Star pattern today confirming the Double top structure which indicates that a lot of weakness is left in the markets and this time around we may see IT stocks falling with Nifty and Pharma stocks acting as a hedge.
Went short on IT stocks today with target of at least 13450 followed by 13300 and 13000 levels on IT index.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Atlanta Ltd! Double Bottom Reversal (Weekly Chart)Technical : Double Bottom Reversal Chart Pattern (Weekly Chart)
Trend reversal line And Double Top Breakout @ 88
Technical Target : 153
aditya birla money looks bullish in short to medium termIn 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
axiscades looks bullish in medium termIn 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
federal mogul looks bullish in short to medium termIt 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.
with sl - 512, tgt - 640.
ujjivan finance looks bullish in short to medium term.double bottom formed after a prior downtrend, broke out with high volume, now retesting.
sl - 316, 1st tgt - 370
DIVISLAB - Short Term Reversal At Support ZoneIt 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
BANK NIFTY @ TREND REVERSALBANK NIFTY has consolidated @ 19500-20000 Range. With downward support @ 19000.
Upward Resistance @ 20000.
50 Day Moving Average Indicating Trend Reversal.
SHORT POSITION @ CURRENT LEVEL
TARGET @ 18500
SL @ 20200
