We have a rounding bottom pattern in NSE:CNXFINANCE and all details are on the chart. Nifty Fin Services - Rounding Bottom pattern has given a breakout. Target does not make sense here due to the growth in the sector Banking/NBFC/AMC/Insurance. It is important to understand the constituents of the Index and look at their charts and fundamentals too. I have...
Supply zone ahead. Keep watching this highlighted area. Keep an eye on Finance related Stocks,might fall from here. Wait for confirmation. Use for Education Purpose. Trade according to your analysis. Note:- This is my Personal view. Contact your Financial advisor before taking any Investment decision.
CNX Financial Spot CMP 14200 Bearish Bat Pattern Formation PRZ range 13950-14150 SLZ zone 14750 Down side 12500-12000-11500 possible. Any reversal below PRZ zone that is below 13950 would confirm reversal,, Index can see good retracement below this levels once pattern reversal confirms. RSI Divergence :- Price making higher high, RSI making lower high,, Bearish...
At the PRZ of a bearish Harmonic Bat in Weekly time frame it made a bearish reversal Candlestick today. A follow through tomorrow onwards would confirm a downward move for 13250 and below that for 12000. The view would negate if it sustains above today's high. The index constitutes of all the large Banks and large Finance companies. Harmonic Bat is a 5 points...
12016 has been established as a decent resistance by NIFTY FINSERV (owing to the heavy consolidation around the range on 21st Oct). An Ascending triangle pattern can be drawn over the chart with the top at 12016 levels. However, if the Gap-up opening on 23rd Oct is to be neglected, then it could also be a simple triangle pattern with a tilted top as opposed to a...
It breaks a important support zone in spread chart wrt Nifty50. Time to be cautious in long positions.
Look for the shorting opportunity while it is trading in the range. Go long if it BO of the range on the upper side.
In this chart of the Nifty Financial Services Index vs Nifty 100 ratio, we see a bullish momentum divergence as prices stabilize above a confluence of support. Prices staying above their recent lows signals outperformance is likely from this sector of the market, at least in the near-term while money flows out of areas that have run a lot like Nifty Pharma and...
Nifty Financial Services -Breakout.. Track Financial Service Sector Stocks.
Nifty Financial Services constitutes all large banks (Pvt+SBI), NBFCs, Insurance plays. Its trading at a triangle support zone. If it breaks below a lot of its constituents will break down. Some of its high weightage charts in NBFC's are already looking well. HDFC just broke below its triangle support Bajaj Finance below 1909 could fall sharply Pvt Banks are...
Strong Sector Uptrend Further Analysis required