BharatJhunjhunwala

BharatJhunjhunwala

The stock witnessed sell off during the last session. The prices have closed below the kumo making a big black candle, indicating weakness. The momentum has lost strength RSI is not at all excited to move up plus macd has fallen below zero. There is a minor support at 550 levels, failing that support the stock may fumble and fall down to 460 – 415 levels.

BharatJhunjhunwala

The stock has witnessed sell off during past few weeks. Currently the stock is at an very important support level – 1670. A move down from this level will not be a good sign for the buyers and the stock may fall down further and test 1560 levels. The RSI is just at the support levels, a pull back here has to be monitored and seen for bullish continuation signals....

BharatJhunjhunwala

The stock is hovering around an important "institutional area" resistance here with bearish price candles can end Cipla's honeymoon here itself.

BharatJhunjhunwala

BPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can...

BharatJhunjhunwala

Asian Paints: After extended north run the stock corrected. The RSI has moved into neutral zone. The prices are now hovering around a minor support at the kumo. There has been a negative TK cross with CS drifting below the prices. The correction seems not over yet, a small pullback can be followed by a correction further pushing the prices to 1670 levels (very...

BharatJhunjhunwala

PVR: The stock is in uptrend trading above the kumos. Now at an important pivot the stock ha managed to form a bullish candle. The RSI retraced and took support near the 40 levels which serve as bullish momentum support zones. The MACD is almost into a neutral zone. A channel breakout from the levels may re assert bulls in the stock & PVR may move up further in...

BharatJhunjhunwala

MARUTI SUZUKI IND: After a splendor rally from lows to 7830 levels the stock pulled back a little after taking hit at a resistance point. In the last session it created a narrow range candle & closed positive for the day. The RSI took support near the 40 levels and MACD is well above zero into bullish zone. Holding 7000 on closing basis will be positive for the...

BharatJhunjhunwala

BHEL: In my previous updated i mentioned the range shift fact in the stock. The stock is reattempting breakout from the clouds. In today’s session it created a bullish candle. The macd is turning up while rsi is comfortably above 50 levels. The chikou is free As long as 51 levels are protected the stock is expected to move up in the near term.

BharatJhunjhunwala

BATA INDIA: The stock is in a dominant trend up though we notice there is a momentum loss which is leading a correction. Now the stock is just at the SPAN support, a good price action (bullish candle) is required here to assert the trend else it may lead to a deeper correction till 1530 levels! We can notice a TK cross. The RSI took resistance at the bear extreme...

BharatJhunjhunwala

SUNPHARMA: The stock bounced off from a very strong support level. The momentum is supporting buyers. The RSI is well into the bullish range along with MACD which seems to be comfortable in bullish area too. A minor resistance is hindering the move at 430 above which a move past 500 levels are expected.

BharatJhunjhunwala

TATA STEEL: The stock made an breakout attempt on 4th November but didn’t quite make it. The prices retraced into the cloud only to take support at the Span B plus TS line. The RSI is well into the bullish range and MACD is forming a bullish hook pattern. At 440 a strong resistance is placed. An attempt to test 440 levels can be made by the stock. Activity at...

BharatJhunjhunwala

IDFC FIRST BANK: The stock has taken support at multiple pivots and bounced with strength. The momentum is positive as shown by MACD as it is above the zero line in positive mode. The RSI is displaying strength above 50 levels on the daily charts. A strong close above 43 will be very positive with stock and it can move to 46 levels. A move below 40.50 will not be...

BharatJhunjhunwala

BANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.

BharatJhunjhunwala

NIFTY: Nifty made a lower close this week. The narrow range bar indicative of weak momentum in the index (however it doesn’t signal outright shorts) but longs positions should be tighten at this juncture. Correction may initiate below 11800, which may extend to 11400 – 11300 levels, at this point we can notice institutional support coming up. The RSI is above 60...

BharatJhunjhunwala

MINDTREE EQUITY CASH (LONG ONLY): The stock seems to form a base as of now. On the charts we can see that it is hovering into 60-40 zones which indicate a shift of range from bear to neutral. Along with momentum as well prices are taking support now. Keeping a stoploss of 666 stock can be accumulated for a minimum target of 810. The prices may face a little...

BharatJhunjhunwala

BANK NIFTY: Banknifty made a sensible close than the Nifty, the price action supported the breakout trend line and bounced. Also a TS line acted as a good support level. The RSI bounced from the 60 levels, that too is a signature of strength. The lower time frames have to buck up now, the hourly timeframe’s RSI is still wagging between 60-40 levels. 30200 levels...

BharatJhunjhunwala

NIFTY: The index managed to pull up during the last hour of today’s trading session. Prices now resting at a crucial juncture (gap area) MACD is above zero line indicating trends is still positive, where as RSI bounced in 60 levels – which reaffirms the overall trend. On the lower timeframe Nifty has to prove it’s bullish worth, failing to do so may drag the index...

BharatJhunjhunwala

INDIABULL HOUSING: The stock has been trying to pullback, last couple of session witnessed a little advance, the prices didn’t pull up enough to close above the TS & KS lines on daily charts. The RSI is into bearish zone similar indication provided by MACD. A good move above 305 will only establish short term move up or else correction may persist.