Closing Range - 19700/19921
Extended range - 19618/20003
Bearish Harami formed in the previous session was negated today by a bullish hammer. The volumes are slightly better than yesterday's session. We again saw Indiavix cooling by another 3.5%. All these indicate a restricted downside. Nifty took resistance at the middle of the newly identified upwads channel....
Grasim has given breakout followed by confirmation candle. Further it retraced and took suppport on 8 EMA on daily time frame and is now ready to continue its upward journey.
Grasim Ltd 1744 dated 16-9-2022
1. Bearish Candlestick @ top of the chart.
2. Double Top on chart
Sell @ Cmp for target 1705-1675-1620 SL 1820 (Positional)
for Intrday or 2-3 days keep stop loss 1775-1780
Disclaimer :
I am not a Sebi registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for...
Nifty: 17050 is Key level breakout and sustain is must for more upside weekly cls above 17200-250 this can open doors for 17750-800 also.
Banknifty: 35900-36000 is key level, breakout and sustain is must for more upside. weekly cls above 36200-250 this can open doors for 37200-37500.
Bata: if is able to sustain todays closing on weekly basis, can test...
I made a small efforts in explaining the speed of trend and non speed of trend , W D Gann have discovered it using the same method ,
Since i have very less time so i could not tell more detailing , Hope this will help you in your trading
Good luck
