After a strong downfall banknifty is forming island reversal pattern, 35630 is a crucial level where the real strength of banknifty will be tested. Both, RSI and MACD is supporting the up move. Long banknifty above 35640 for target of 35780 and 37150 with sl at 35550.
Nifty has given breakout of falling trendline after facing resistance many times. Also, nifty has crossed its resistance of 16850 with rising RSI and positive MACD crossover. Nifty has turned bullish after several day's fall.
Nifty has took support where it should to be i.e. its previous consolidation range. Also, nifty has reached its falling trendline where it has faced resistance for many times, long after it crosses the trendline. Strong support of RSI around 30. Also, MACD crossover is visible.
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Maithan alloys has given a breakout from a strong consolidation of 7 months, also we can consider it as breakout a cup also because it hasn't achieved the target of the cup it has formed till now, but could achieve in recent times . Strong bull run in this stock is visible which was at halt for time being but now resumed the uptrend again.
Banknifty has given a breakout of cup and handle pattern above 35100, and is capable to reach 35400 and above levels. Also both RSI and MACD is supporting the move. Option data is extremely bullish and could witness short covering.
LALPATH has given a breakout of cup pattern above 2528 with RSI breaching above 60, and is capable to test the levels of 2586-2650. By the time I am publishing idea it is moving so, try to accumulate near breakout level.
Nifty could gap down around 15850-15750 taking clues from SGX nifty breaking its strong support around 16100, which is indication of caution. Also, nifty could break its massive support of RSI @28 which is again dangerous. Only, we can see a sign of support around its previous consolidation range as shown on chart.
As stated 3 weeks earlier I had given a target of 110 on Brent when it was trading around 94.And, my target achieved 🎯🎯 Then again 1 week earlier when my target of 110 achieved, I stated that Brent could soon see levels of 120. And, my target achieved 🎯🎯 And now, if Brent gives breakout above 141.5 then it could rally above our estimates, which is...
3 weeks earlier also I had published an idea saying that USDINR could soon see levels of 76, and my target achieved. Now, it looks like its ready for 76.5 by giving breakout of double bottom pattern with rising RSI and positive MACD crossover .
Premier Explosives have given breakout of massive time frame 'V' pattern of 77%, above 300 with MACD crossover and rising RSI. Could soon see levels of 400 and 440.
Huge cup and handle pattern breakout in Excel Industries with rising MACD histogram and RSI, also it has crossed previous congestion zone with massive volume in such a bearish market with indicates its huge buying interest. Accumulate near breakout zone, don't hurry because market is highly volatile, I am estimating that it can soon see levels of 1700-1800.
TECHM has shown breakout in such a falling market could soon move towards 1442-1450. Long techm near 1425-1428 with sl 1418. IT sector on focus.
ITC could soon show levels of 223, so long itc around 217-218 with sl 216.30. Both RSI and MACD supporting. Also there is inverted head and shoulder visible.
Earlier at levels of 94, I suggested that there is breakout above 87.5 and brent could soon show the levels of 110 and by target achieved this morning. You can check that idea below. Now, I suggest to do partial profit booking and hold for target of 115. I think brent could face resistance between 110-115 zone.
Nifty will gap down around 16250-16300 taking clues from SGX nifty, and I think it could take support at previous range shown on chart. I would suggest to wait till it breaks the range on any side to go long or short. Also there is strong support of RSI @28.
There is breakout of inverted head and shoulder in MPHASIS could soon see levels of 3300 also there is rising RSI with positive histogram. IT sector in focus.
Long hcltech after the shown breakout. RSI is showing strength with positive MACD histogram keep sl around 1135 and target of 1155-1160. IT sector is also in focus.