LT IS CURRENTLY TRADING IN ITS VERY CRUCIAL SUPPORT AREA.
MOST OF THE PEOPLE BELIVES IT WILL REVERT FROM THIS SUPPORT AND THERFORE ONE SHOULD GO LONG.
BUT AS PER MY VIEW IF STOCK IS HOVERING AT A PARTICULAR PRICE IN THIS PARTICULAR CASE AROUND 895-905 THEN IT'S SURE THAT SOMETHING IS COOKING AND WE SHOULD BE CAUTIOUS. (MIGHT BE PEOPLE WERE RIGHT ABOVE GOING...
EXPECTING SOME IMPULSIVE MOVEMENT IN BHARTI AIRTEL IN EITHER DIRECTION.
IF CROSS BELOW RED TREND LINE CUM SUPPORT SHORTING OPPORTUNITY WILL ARISE BELOW 508 FOR TARGETS OF 10, 20, 40 & 60 POINTS.
IF CROSS ABOVE GREEN TREND LINE LONG OPPORTUNITY WILL ARISE ABOVE 530 FOR TARGETS OF 10,20, 40 & 80 POINTS.
IN BOTH CASE SL AS PER YOUR RISK CAPACITY.
BANKNIFTY looks week below 21640 so we might be entering Short trade if moves below 21640.
In the banknifty 30 minute chart we can clearly observe that price was moving in a channel between green & black line which was eventually breached.
But it took support at the red trendline and again retraces till lower side of channel and falls again and breaks red trend...
Banknifty moving in a channel and narrowing its range thus hinting us to break the lower trendline. Might be risky as we were entering before the breakout but if this thing works we may easily capture around 300 points.
Most of the people might be wating for breakout of lower trendline thus entring before the audience to have the first mover advantage, if it will...
As mentioned already in my earlier idea (attached below) on Banknifty that if buyers has to take back the control Bank nifty has to move above 21920-930 which might stretch upside towards 22200-22300.
We booked profits in that trade and Banknifty moves similarly as expected by us and now we can clearly see that 22300-350 is acting superb support for Banknifty...
Observed that since 12th of June LT was getting very strong resistance around 900 levels as clearly seen in the chart with Red Line.
During past few sessions LT tries multiple times to break it and it does moves till 890-900 zone, but strong buy is seen and it bounces back from there.
Keeping this in mind and the present levels LT looks good for Long trade setup...
1. Expecting some retracement in BANK NIFTY from 21900-920 levels keeping in mind if it will hold 21620-640 levels.
If levels of 21620-640 is breached Bank nifty might be heading for 21200-300 from current levels.
2. Bank Nifty shows channel movement in 15min chart and if this has to continue it might retrace from levels of 21800-920 towards 22300.
BAJFINANCE CURRENTLY TRADING NEAR ITS STRONG SUPPORT AREA , EVERY TIME IT TRIES TO COMES CLOSER TO TRENDLINE IT RETRACE BACK AS SHOWN BY TRENDLINE & STARS.
IF THIS TREND HAS TO CONTINUE STOCK HAS TO MOVE ABOVE 3320 ZONE AND ONCE SHOULD ENTER LONG ABOVE 3321 FOR UPSIDE TARGETS OF 50,100,200 PTS .
IN CASE THIS TIME TRENDLINE IS BREACHED AND STOCK MOVES BELOW...
From the last few trading sessions it is observed that AXISBANK was trading in a range and forming triangle pattern between the resistance and support levels.
Green trend line is acting as a strong resistance shown by green dots and one could enter long if that trend line is breached and axisbank moves above 441.
Similarly, lower red trend line is acting as a...
LT LOOKS WEAK IF MOVES BELOW 855 FOR FURTHER DOWNSIDE
AROUND 870-73 SEEMS RESISTANCE FOR IT AND IF ANYHOW CROSSES THE LEVELS ONE SHOULD REVERSE THE POSITION AND GO LONG.
TOMORROW OPENING WILL ALSO DECIDE WHERE IT ID HEADING TOWARDS AND PRESENTLY LOOKS LIKE LT HAS HIGHER CHANCE OF MOVING DOWN ONCE.