Akshay15

Akshay15

As can be seen from the weekly chart of Arvind, momentum in the stock has turned lower and entered into negative territory. It is often a warning sign that stock might change it's current trend. The logic behind this idea is to trade against the trend when it gets old and momentum starts weakening. In my last article i mentioned similar logic on metal index, and...

Akshay15

Overall Metal sector looks ripe for big price correction at this stage. i have found Tata Steel to be more perfect for short as momentum continues to weaken and stock is going sideways on the way up, same price action like crude oil before it dropped from $53 to $47.

Akshay15

On daily charts 25 day ROC of SPX has entered into negative territory. Which indicates that momentum in the short term is weak which will drag SPX down. My Take - At this point it is very dangerous to carry long positions in the market as much waited correction is highly probable.

Akshay15

UBL slipped below it's long term trend line support since 2012 on intraday basis on bad news but managed to close above it. This is also supported buy close above daily supertrend buy support level. Strategy - Buy with stop of 760 on closing basis.

Akshay15

IDFC has broken down trend line, going back to late October 2016. Fundamentally as well I think stock is great value buy as most India growth story stocks have gone up this is the only one which has not performed compared to others. I think stock can go till 60 very soon. Sentimental RSI has also turned positive on daily chart suggesting new uptrend is starting.

Akshay15

One thing which really helps to make a trade against the trend is momentum divergence, as can be seen in case of USDINR chart though pair has dropped, clear divergence can be seen in momentum as ROC has sustained above it's 20 period EMA. Which indicates that downtrend momentum is getting weak & pair can move back up.

Akshay15 Updated 

Mindtree is around trendline support which is around 460 It's 25-day ROC is also holding above it's 20 day EMA, which is indication that momentum may pick up in short term & stock can reach to 483 & 500 levels.

Akshay15

It looks that sector rotation is on the way & pharma is likely to perform better compared to Nifty & Banknifty. Pattern wise Auropharma looks better it has formed double bottom on daily charts, I believe it is very strong chart pattern & so the stock should perform better going ahead.

Akshay15

Banknifty has gone on to make new high but when i checked on weekly chart 25-day ROC with 20-day EMA on it. As can be seen ROC is unable to go above 20-day EMA. If you check in the past such divergence calls for correction in the market.

Akshay15

Justdial has been going down sine late 2014 but it may breakout above that trend line & after that it can be huge spurt in the price. So get ready to buy above trend line Break as it will be significant breakout. When occurs.

Akshay15

Banknifty momentum on daily, 4 hrs , 2 hrs chart is showing that momentum is loosing. To rally from here we need a correction of at least 500 points from here.

Akshay15

The move in S&P500 has gone parabolic & has started moving in gaps in the last 4 days. Such moves generally follow with sharp market correction.

Akshay15

If there is one sector that did exceptionally well in past year it was metal. But every Trend bends at some point. I think after all this euphoric bull rally it is getting ready for some strong corrective move.

Akshay15

Vedanta has witnessed big Rally But now it seems the bull run is exhausting itself with SL at 235 it's a great risk-reward short trade.

Akshay15

KSCL is witnessing good support at lower levels. There is this long term trend line it is about to break and the breakout can be very violent, so one should buy near trend line support if it falls in coming trading sessions. Buy March or Feb contract as it could take time to break from this zone.

Akshay15

If you believe in Fib Ratios there is 0.236 retracement level at 17960.92.

Akshay15

It's very much possible that weak hands are getting into Biocon at this level & smart money taking exit. so going short near 970 with SL @ 980 - 985 on closing basis seems good trading opportunity.

Akshay15

On Monthly charts of biocon it is very apparent that price is getting rejected at higher levels. Now there is argument about it being fundamentally strong & nothing can go wrong but markets currently flashing the signal that price is getting rejected at higher level. Leaving you with the quote from fooled by randomness - "Even if you know what is most likely many...