Boult2100

Boult2100 Updated 

CNXIT has factored in all the possible bad news in the last 4-5 months. On 1st Feb, it sold off significantly on the back of H1B VISA fees hike news but it made a higher low around 9600 and made hammer on daily charts. Now on the verge of making hammer on weekly charts indicating that selling has exhausted in the near term. Almost all the results are out. Huge...

Boult2100 Updated 

As mentioned in the previous post (Link below) just before the budget that at around 8550, people who are left behind will jump in and next target zone should be around 8730-8760 which came today itself. Bang On! Today's Nifty low is 8537 & day high is 8722, as close as it can get. Now Budget is over & Demonetization is history. Market will focus on the global...

Boult2100 Updated 

Today Auto Index went up by 3.6% and all auto stocks were up by 3-5% but surprisingly Bajaj Auto went up by only 0.73%. All two wheeler stocks like Hero, Eicher, TVS etc closed well in green, Maruti made all time highs. Budget focus on reviving rural demand is quite positive for two wheelers. Let's see if it goes to its previous highs or not. Buy with Stop loss...

Boult2100 Updated 

After analyzing multiple timeframes, these are some levels which should playout during the next budget week. Lots of volatility is expected so trade small to minimize risk. Profit Booking zone - 8730-8760 (Multiple resistances) First support - 8540-8560 (People who have missed the rally would try to jump here) Buying Zone - 8430-8460 (Multiple...

Boult2100 Updated 

20300, 19730 & 19275 are Fib levels on weekly charts. Pull up your socks for the upcoming week's volatility. First goal should be to minimize risk and protect your capital. Second should be to profit. BankNifty is going to be highly volatile among all the sectors due to fiscal deficit figures, Govt borrowing schedule etc. So taking positions at these levels...

Boult2100 Updated 

Market has run up a lot in the last couple of weeks. Now a phase will come when Major indices will consolidate and lots of stocks which are lagging behind will catch up. Reliance has a strong support in 1000-1020 zone, it has developed range from 1000 to 1100. Good risk reward at this point in time. Go long with SL 999.

Boult2100 Updated 

Infy has come back to its strong support zone of 900-930. Risk reward is favorable at this juncture. RSI is showing clear divergence on weekly charts. Other stocks in IT sector are already showing some strength. Since results are out of the way so no strong reason for institutions to sell it at this level. Go long with strict stop loss of just below 900.

Boult2100 Updated 

ICICI Bank is underperforming in the Pvt Banking space for quite sometime. It has fallen since Axis Bank announced its bad results while Banknifty has gone up substantially higher, market is anticipating bad results for Q3 on 31st Jan similar to Axis. Technically, it is in an upward channel on weekly charts. Good risk reward to go long at the bottom of the...

Boult2100

Some people were laughing and were in disbelief when I posted (Link below) and wrote around two months ago that there could be potential double bottom 'W' pattern on Nifty with an unbelievable (at that point of time) target of 8600. Today it is complete. This doesn't indicate that I am a Nostradamus or astrologer! ha ha! Trading is a game of probabilities. We...

Boult2100

BankNifty made a humoungous move on the expiry day. Caught everyone by surprise by moving above 19275 especially call writers who sold calls with strike 19300. Once BankNifty crossed 19300, there was panic among these people and must have bought futures in Hara kiri and propelled the insane move on the upside to 19518. This is what FII's & other large players do....

Boult2100 Updated 

BankNifty has strong resistance in the zone of 19150-19275. We booked profits, will enter again on dips. As we can see in the chart above that weekly downward sloping line has lowered it by 40-50 points, earlier it was 19200. Today is expiry it could be volatile so be careful. Looking at components of banknifty, not much room for upside at this juncture. Results...

Boult2100 Updated 

Closing above 8460, Nifty will race towards 8600. Breakout seems imminent in a day or two as Nifty gave a very shallow correction till 8330 and didn't even make double bottom there. Go long only above 8460 or any dip towards 8350-70. Dollar index falling below 100 augurs well for EM equities. Early signs of long positions by FII's.

Boult2100 Updated 

Profits booked right at the resistance on downward sloping line. Now it is going to wait for heavyweight, HDFC Bank results today before making the next move. BankNifty is in consolidation mode on higher time frame charts. It is quite volatile due to ongoing results season and trump rhetoric. Try buying near the lower end of the range 18700-18800 and sell it...

Boult2100 Updated 

Post demonetization, market was expecting substantial slowdown in the economy due to which banks would have suffered a lot. But yesterday, IndusInd Bank posted amazing results indicating economy might not have suffered much. Still early to draw conclusions though but short covering and buying is propelling Banknifty. Don't count the resistances just ride the rally...

Boult2100 Updated 

BankNifty reached our target almost. Now it is likely to consolidate in the band of 18900-19300 for few days before making further move.

Boult2100 Updated 

Nifty has been consolidating in the range of 8370-8460 for last few days. Play the range and enjoy. Closing above 8460-70 will trigger further rally.

Boult2100

There is a news on this stock that Patanjali is helping this company to come out of its high debt issues. It wont be doing it for free though Patanjali might get stake in the company which is a big boost. Stock price was up 20% circuit today again about to reach 20% circuit with very high volumes.

Boult2100 Updated 

BankNifty is making bearish Head & shoulder at crucial resistance 19250-300. Tactical short but trend is still strong be careful.