NIFTY is moving in uptrend channel for almost last 8 trading session. There seems lots of good chances for everyone in this of market.It will be interesting where market moves and reacts to earnings season ahead.
From among the IT Pack, Infy is the one I'd love to keep a watch on.
From the high to a 30% correction, the stock is slowly inching its way up.
Forming a double bottom pattern, the current price is hovering near the neckline.
Positive with initial targets of 1750, 1900 and 1950. Above 1950, we can expect good move upwards.
The stock has strong support at...
As seen a very bearish in the market for the 3 consecutive sessions, still market is not looking in good mood for the Thursday. Reliance still looks strong, it may take the NIFTY into bullish, because 23rd is the big day for the heavy weighted stock of the market. The other side HDFC is week.
Here are the Support and Resistance levels for the...
Thought Process - Price has rejected multiple time from its resistance level of 1900 (at which there is a massive open interest of Call Writers), one it holds 1900 levels there can be a good breakout leading the price to its next round level of 2k.
Trade Plan - 50% positions can be initiated now with SL of 50EMA on a closing basis & next 50% when it holds 1900 levels.
We see price rejection off the 1.748 area(a key area on daily timeframe) after the successful downward rally. we looking for the bounce back to 1.7830. allso have to be cautious of the downside below 1.748 area for the fake out before the main move to the target.