DrAnandM

DrAnandM Updated 

After Correcting almost 40% from ATH. Technical Analysis: 1. PFC has broken out of its Bearish Trend line with 2. Candle Stick Pattern shows Bullish Engulfing Pattern on 3.Weekly Time Frame (in formation) at 4. Demand Zone with 5. Bullish Divergent RSI on Daily Time Frame. Above Factors Favour a Short Term Upmove. Trade Details: CMP 403 Buy Above...

DrAnandM

After last week's Trending Pole, Nifty has been sideways this week trading in a range and creating a retracement flag. Breakout on either side of the Range could lead to a trending move towards the Upper Limit of the Parallel Channel (Green) 23500 or The Midline of the Parallel Channel (Yellow) 22500. RSI is divergent Any dip towards 22500 could witness a...

DrAnandM Updated 

Trade Details: Buy Above 1445 Tp1 - 1565 Tp2 - 1670 Tp3 - 1800 Tp4 - 1920 SL - Below 1400 (Only to get started) Rationale : Multi Timeframe Analysis Shows: 1. Support taken at 1393, a Strong Demand Zone backed by 3 Monthly Candle 2. Support taken at 1438, Fresh Formed Demand Zone backed by 0.78 Fib Retracement of the Recent rally and Weekly Support ...

DrAnandM Updated 

nifty has broken 50 weekly EMA formed a head and shoulder or triple top pattern at in an attempt to retest the EMA from under and retest completion done. sell at cmp 22880 22900 target 22550 22500 sl above 23000

DrAnandM

On Higher time frame, Nifty has taken support at 0.61 Fib (23k) Retracement of the Election Rally from 22k to 26k. If Nifty Holds this level, it could trigger a Short Covering taking Nifty to Major Resistance Levels at 23500 23800 24000 24200 24800 25000 Rejection from Any of These levels may resume the correction. If Sustains Above 25000, (Since it's a Monthly...

DrAnandM Updated 

If Reliance Continues to sustain above 1245, then it may test 1330 1360 levels.. Rationale Out of Bearish Channel Bullish Divergence on RSI Near Weekly Monthly Quarterly Support. Trying to form higher highs.. at 0.78 Fib Retracement of the Fib retracement drawn Buy above 1255 SL below 1215 Target 1315 1330 1360

DrAnandM Updated 

Out of Falling Bearish Channel at Weekly Support. Decent Retracement possible before any further fall. Buy Above 1645 Targeting 1675 SL Below 1638

DrAnandM Updated 

Head and shoulder in HDFC BANK Below 1770 1670 could be tested in HDFC Bank

DrAnandM Updated 

The Monthly resistance at 24500 Zone has worked like magic Is Nifty headed for 22000 20000? Looks very much likely Depending upon further Price action we will review about 18000 17000 if at all Likely to be tested

DrAnandM Updated 

Nifty has completed Elliott Impulse Wave cycle that began in 2008 And Awaits Correction Waves that should follow for decent future run up.. 0.5/0.61/0.78 Fib retracement is Possible, Which Will bring Nifty to 17000 Level.. 2025 2026 Crisis is about to Begin.. Mark the Level 24k to 25k If this zone is Respected, Then This Correction may begin with full...

DrAnandM Updated 

Below 1250, 1170 could be tested In ICICI Bank. Quick move around the Corner..

DrAnandM

ICICI Bank looks weak on Charts after having Given a Great Run. Reasons to consider Shorting below 1200 Technicals : 1. Rejection from fresh Weekly Supply Zone established around 1280. 2. Double Top in formation, to complete upon breakdown of 1200 3. Bullish Channel Breakdown 4. Bigger Parallel Channel Resistance Hit at ATH 5. Rsi Bearish Divergence on Daily...

DrAnandM Updated 

Price action between 2600 and 2750 will decide future of Gold, Whether it will continue to remain bullish or Witness a healthy correction. Below 2750, 2600 will remain a decent possibility. Sustaining Below 2600 will open Doors to 2400. See You out of the Range Again

DrAnandM

7000 and 6000 are the Two Value areas one may look for Longs Bajaj Finance Trading in a Greater Retracement Channel. Priming to Breakout of Yrs of consolidation

DrAnandM

2700 2750 could see some Decent profit booking for Gold, as it would mark the end of Impulse wave 5 of This Elliott that started at 1600.

DrAnandM

As mentioned in previous Analysis, support taken from 2370 If Gold sustains above 2450 2500 Short term 2700 could be tested Longer term 3000 could be tested Rationale: Support taken from 1. Fib 0.23 retracement of the rally from 1986 to 2450 2. DEMA 50 Bullish Flag Breakout

DrAnandM

Bajaj Finance has been Rangebound for 3 years now.. 6150 is crucial zone If Respected, then possibly 8000 zone could be tested If broken, then 5700 zone could be tested which may see a Sharp Bounce since it's a Demand Zone, pending a retest, taking to 8000 Zone again.

DrAnandM Updated 

2000 2008 And now 2025 Nifty is expected to witness decent Profit booking in the Year 2025. Sit on at least 50% Cash to be prepared for the Crash! 17000 to 18000 Levels could be tested if History is to repeat itself. Theory behind this Possibility playing out: Every time Fed has started QE, Stocks have corrected by around 50 to 60 %. Be it 2000 or...