BharatJhunjhunwala

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Steel Balls Required to cross the second level on Bank Nifty. If it manages to move up the quick resistance.

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Prices are consolidating, the momentum is not picking up. Any failure to push above the current levels will render the stock into a correction which may push it towards the next support zone at 320 levels.

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Higher low formation with a double bottom formation on RSI. Bullish candle after two narrow range candles. First level of resistance 269 thereafter targets are big. 195 should be protected.

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A shooting start appeared close to the 50 percent fib retracement, the tail of the candle faced resistance at the MA. The volumes of up candles seem decent RSI is at 50 levels. A failure swing may form at the 50 levels, bulls should be comfortable above 1657 with good volumes follow up.

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Eicher Motors has been into a consolidation zone forming a triangle. The last 3 candles are formed with good volumes and today’s session managed a close above the MA. RSI is sloping up after bouncing from 40 levels. A strong breakout from the horizontal level will be positive confirming accumulation.

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The stock is into dominant trend down and this pullback seems to be corrective. Now the stock has faced resistance and the momentum indicator is also taking a halt at the bearish extreme. Any failure to move above 85 will induce more correction and the stock may further correct to 65 & 44 levels. However a move above 85 may push the stock further towards 103 & 125 levels.

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The stock recently broke down from all critical support levels. The pullback seen during last two sessions can be corrective nature as the stock is closing into a strong resistance level. The RSI is facing resistance at a bear extreme zone. The stock is expected to resume trend down if it fails to move above 1610 levels. The downside targets are 1110, 960 & 920....

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While Nifty did made some attempt to pullback, the same was absent on BankNifty. The movement on the index was weaker than that of nifty and a clear divergence was noticed. Disparity among these two index espically Banknifty lagging is not a sign of strength. While the RSI is into bearish zone below 20 the macd histogram is soaring red, indicating sellers are in...

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The index pulled back on Friday on probable stimulus hope by the government. Looking at the charts we can clearly say still there is no relief in selling. The RSI has fallen deep below 20 which indicates bears are in full force the MACD histogram is negative and trend still bearish. A single bullish day will never warrant a trend turn. 9300 level is immediate...

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In our last analysis for USDINR, the set target was 74, which was met this week. The minimum target of the pattern has been attained. The pair surpassed its previous highs and retraced back. The USDINR is trending up, a small divergence was created on RSI after which a correction took place on Friday. 73.55 is short term support for the pair, if it manages to...

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The 9800 targets set by us was attained this week. Nifty moved down sharply without sparing any stock on the street. On the weekly closing basis it saved a very critical support 9600 levels, which we consider as the last stand for bulls, below it the hell is open. The RSI was heavily oversold, on Thursday the reading of RSI was 13.05 this was the lowest reading...

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Similarly like Nifty the banking index also took support at the last extreme levels established by us at 22900 and bounced back. Individual banking stocks were battered down. Though we have a bullish candle formation – piercing pattern on the daily charts, the resistance weighs more. 25700, 26750 & 28250 are immediate resistance levels, price action needs to be...

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While the stock markets gripped every attention, gold slipped quietly down after creating new 52 weeks high. Formidable selling was witnessed in Gold too this week. It closed below all the important short term trend lines. The RSI was displaying a divergence, which indicates a loss of momentum. Now trading just at minor support $1529 levels. Below this $1415 &...

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The stock 1101 during the day pulling back to close at 1134. Comparing close to close the stock corrected 1.43% compared to Bank Nifty overall. Now the stock is at a support. RSI being heavily oversold the stock may pullback from the current levels to 1160 – 1180 levels, however failing to cross them or creating bear candles at the levels may result into further...

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Sellers took full control of the index. Nifty broke below a weekly trendline that was supporting the prices right from 2017. Selling was intense during the week. The daily RSI has moved to 26 levels while weekly RSI is close to 35 levels. The RSI is oversold on both the timeframes, so a bounce cannot be ruled out. The extent of the pullback will decide the further...

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The index corrected heavily this week making a low of 27162. Banknifty closed below an very important support level today, though an attempt to pullback was made but it didn’t succeed much. The RSI is into breaish zone & oversold too. Daily RSI has tripped below 25! The index has turned into “ sell on rise” candidate, pullbacks if any should be utilized to create...

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While all are busy with Nifty and stocks we must not ignore that the USDINR has registered a breakout from a 6 months symmetrical triangle. The RSI is well placed into bullish zones with the pattern target placed at 74. However a break below 71.55 will render the pair into consolidation again.

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The stock has been falling since last few months after creating a top in November. During the last 5/6 sessions we notice a surge in volumes as well. Today’s volume was peak with a small body candle (now this create a anomaly between price and volume) we should expect large candles with large volumes but that has not been in this case, especially the last candle!...