AkshayAdak

AkshayAdak

This is Monthly timeframe on Nifty 50 index. We have seen strong momentum since 2020 bottom and it have retraced to 0.23 fibo level. In consolidation for months and now it is in very strong resistance zone. Critical levels, make or break. My view is bullish backed by the last month's candle closing. This post is for information purpose only.

AkshayAdak

This is Daily timeframe. BEL have retraced and now consolidating for last 4 days in a range, it rejected to go for lower levels last day. MFI is at 21.77 level. There is a chance that is gives a bounce and continue it's rally. From botttom to top, it is currently at 0.38 fibonacci level. Keeping SL just above 0.61 fibo level. Psychology behind trade and SL...

AkshayAdak

This is Weekly Timeframe. Dalmia Bharat Ltd stock have given breakout today from downtrend and from inverse head and shoulder pattern which is formed at lower levels of this trend. Today's volume is highest in last two months. It consolidated near resistance for last few days, shown sustainability, which is helpful to begin upmove. So by seeing today's volume...

AkshayAdak

This is weekly timeframe. Nifty Reality had took support at 0.50 fibo level. There is high probability that it may test 52 week high in next coming months or may be it can take more than a year. From current level its more than 28% up. I will be now closely watching the reality sector's largecap stocks for positional trading opportunities. We have here back to...

AkshayAdak Updated 

This is Daily Timeframe. Formed bullish belt-hold last day with volume strength. Two bullish candles with no wicks below have formed in last few days. This can be short term trend reversal point. I'm keeping this stock in my radar. Thsi post is for information purpose only.

AkshayAdak Updated 

This is 1D timeframe. Infosys have formed a inverse head and shoulder pattern with a morning star at bottom in head. Last three days, 2 good bullish candles, but the volume is average so I need more confirmation to initate the trade. Will wait to get a closing above 20th July candle with volume support. Then I can target the 1660-1670 zone. I can keep stoploss...

AkshayAdak Updated 

This is 1D timeframe. After a good bullish rally it went in a consolidation for last 3 months and now showing some strength. 1] Last day it had gave breakout from this bullish pennant pattern, with a strong Bullish Belt Hold candlestick type. 2] It have recently gave strong rejection to bears and have formed bullish hammer at support trendline. 3] Volume...

AkshayAdak

This is hourly timeframe. This is how I analyze the consolidation only technically. From fibo. recent top to bottom, Nifty is taking resistance 0.38 fibonacci level. Let's pointout the short trend and understand each. 1] Nifty started consolidating 6th May 2022. It started falling, gone sideways for sometime and gave bounce back. 2] And it tested the 16400...

AkshayAdak Updated 

This is daily timeframe. Cipla was in consolidation in long range for 8+ months. Finally it gave range breakout and retested its resistance zone, which is acting as a strong support now. Selling volume decreased in last three days of last week's. Today it gave rejection to downtrend and had formed bullish engulfing. May be now it will give a good upmove. Let's...

AkshayAdak Updated 

This is daily timeframe. Kotak Mahindra Bank is taking support on a this support zone for more than a year. It had formed a triangle pattern on support zone and gave breakout and had move more than 25% last time. After that, it corrected and again came back to previous levels at support zone, and again consolidated for last 5 months and now showing some...

AkshayAdak Updated 

HDFC AMC is showing signs of trend reveral on weekly timeframe. Since 2019, it is taking support and had created a support zone of 1970-2080. This may be the right time to enter for long term, but I'm not interested in it yet. Till now company fundamentally good. But my concern is that it has hammered multiple time to support zone. So my eyes are on upcoming...

AkshayAdak Updated 

After a hugh upmove stock has been in consolidation. Now stock has give a good breakout with almost highest volume since Sep 2021. It has been consolidating and strongly taking support at 038 fibo level. For last three weeks it have been approaching the resistance line and now gave breakout. There is high probability that it may make a new fresh 52 week high in...

AkshayAdak

This is Monthly Timeframe. Finally ITC is showing some strength, sell-off started in July 2017 and it fell more than 60% from it's all time high and made a bottom in March 2020. And after that it started a retracement, but the retracement have crossed the 0.50 fibo level, and now approaching the 0.60 fibo level, that means it not a retracement anymore. It may...

AkshayAdak Updated 

This is Daily time frame. IRCTC went in consolidation after a big rally. For last three months it is in consolidation. It form this triangle pattern while consolidating. When the range became narrow, it gave good breakout with thick green candle with good volume. Then it retraced and retested the resistance line and now acting as support. Yesterday it form a...

AkshayAdak

This is Weekly timeframe. After covid crash, this stock have rallied multifold times. Yes, there are a lot fundamental triggers. From June 2021 it went sideways, in consolidation phase. It didn't went far from 0.23 fibo level. If sustained near it and consolidated. The correction is not more than 30% from top. These are strength indicators here. Now for last...

AkshayAdak

This is daily timeframe. This stock is smallcap and high beta. But the business model is unique and fundamentals have changed a lot last year. We can see it in price action. Yesterday it gave breakout from its long consolidation zone with bullish belt-hold candlestick pattern. It also had very good volume. Though it have today formed a bearish candle but I think...

AkshayAdak

This is Daily Timeframe. For last 6 months, Shyam Metalics is in downtrend. Downtrend was smooth, but things changed after the Mid-December. It rejected downward move by forming a hammer candle on 20th Dec. 2021. After this, it started showing some strength, formed bullish candles with volume support. Then after small retracement, it again formed a hammer candle...

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AkshayAdak Updated 

The pattern formed now in Nifty50 on 1D TF is very much similar to the pattern formed back in 2005 in first half. But in 2005's pattern it was a little bit sideways but the current pattern is formed in strong bullish trend. Will it form a double bottom pattern just like in 2005 and move up ? Let's see. This is my own analysis. This post is for information purosely only.