AviralDubey01

AviralDubey01

Prices have placed themselves at a crucial point where it can give a nice breakout or a reversal. After considering price action on lower time frames of 5 or 15 min, the prices can give a strong move as it moves above Rs 815/- or it can go into consolidation as it sustains below previous day's closing price.

AviralDubey01

The stock has been in consolidation in the range of Rs 4000/- to Rs 4700/-. As it can be observed that the prices have started to make new higher high pattern in the consolidation zone. An intraday bullish momentum can be captured as the prices cross Rs 4315/- with proper price action in 5 or 15 min time frame.

AviralDubey01

Since RBI's rate hike a recovery participation has been seen from the banks thus for a reversal, banking stocks must perform. ICICI bank, axis bank etc. in the banknifty index has made a bullish engulfing candle in daily chart. A price action on 5min and 15min chart, above previous day candle is a positive indication to initiate a long position on an intraday basis.

AviralDubey01

Due to global uncertainty defensive counters such as pharma are being focused on by both the FII's and the retail investors. Cipla has shown strength in these times. It has broken the resistance levels of Rs 1081.55 but went for a retest and consolidated below it after a second continuation of up trend the prices have closed above the resistance level. As prices...

AviralDubey01

Asian paints have been range bound and today it gave a huge breakout and broke 2 minor resistance levels. Despite the overall market was in a bearish momentum the stock showed good strength. A buy can be initiated as there is a closing above 3600 levels in 5 or 15 min charts. Caution should be exercised as a profit booking might occur, in such a case avoid going short.

AviralDubey01

Prices have been moving inside a range and currently prices have settled themselves at the support region thus, a trade can be initiated on short side if NIFTY makes a negative move otherwise a bullish stance can be created with a small risk to reward ratio. A price action with volume should be confirmed on smaller time frame before initiating a trade.

AviralDubey01

prices have settled on the support level of Rs 754/- . A bearish move can be expected as the prices moves below its support level. An inside candle formation can also be observed as today's candle is between the range of previous candle. A price action should give confirmation on 5 or 15 minute time frame.

AviralDubey01

ITC has given a huge up move for a long time and a significant retracement is still pending. On top a bearish candlestick formation can be seen which is known as the" evening star ". The final candle that gave a strong bearish close pushed the prices to a support level of Rs 330.20/- . A bearish momentum can be expected if prices give a close blow Rs 330.20 in 5...

AviralDubey01

Axis bank has broken a rising trend line and has given a strong closing below it. prices has been in correction for 4 days and a minor retracement or consolidation can be expected. Proceed with caution if initiating a short position.

AviralDubey01

Sbi is at its support level of Rs 550 major banks have shown a given a breakdown which indicates a bearishness in the trend which may influence sbi as well. Once price closes below Rs 550 support level in a 15 or 5 min chart, a short position can be created.

AviralDubey01

Hindalco has been in consolidation for around 29 days. Rs 407.95 has acted as a viable support and the price has given a breakdown. due to global uncertainty in the metal space a follow up bearish move can be seen on Monday.