Yesterday Nifty gave a breakout above 11600. But in today's session the breakout got fizzled out. And whenever a breakout fails the structure becomes weak and tends to fall more sharply. Also Nifty gave a breakdown from a Rising Wedge channel with a large candle. It has also done its retracement . So go short on Nifty
Market stance has changed from Buy on dips...
NIFTY broke multiple trend lines today and also retested them.
Most likely to fall up to 11320-11300 levels. If weakens further may fall up to the trend line from which it gave the falling wedge breakout. This will also retest the trend line.
RSI is also weak so look for shorting opportunities for few sessions .Weakness may continue up to Wednesday and we may see...
AIRTEL has become a weak stock with time . Multiple reasons to short
1) ROUNDING TOP PATTERN IN MAKING
2) GAVE A FALSE BREAKOUT. (After a failed breakout stock falls very fast)
3) RSI also showing weakness
Short on any bounce upto 508 (above 508 only it will start showing some strength) for a target of 480
NIFTY gave a breakout today from a falling wedge pattern. It has to retest the trend line to attain a bullish structure. Along with this it will complete its inverted Head & Shoulder pattern to start another 250-300 point rally on the upside.RSI also showing divergence indicating some sort of weakness. So short at cmp for a target of 11300 with a small SL . Also a...
HPCL today broke a trendline , A channel and a major support of 200.
Also it has retested all three trendline, channel and 200 mark.
So multiple reasons to short with a target of 188-190 with a SL of 202
Bearish Pennant Pattern Spotted in Bank nifty after yesterday's fall and today's consolidation making lower highs and higher lows
In daily time frame also it has formed a halt candle .
Look for sideways or downtrend market .
Equitas has shown weakness in its RSI(hourly time frame).
It has broken a trend line in today's gap down but still a retest is pending. We may see the bounce or retest which may take it to 59-59.5 levels which is a supply zone
Also it has to come to 53 levels to retest its 50EMA
Sell@59-59.5 Target-53.5-53 SL-61.60
Nifty has come to fill the gaps between10603-10696 and 10440-10485 and to retest its 200EMA @10530.
It has faced resistance from its 200DMA@10881
Nifty is weak as it has broken its trend line in RSI as well. So some more fall is still left.
By hook or by crook it has to reach at least 10450 to make this correction convincing and attract buyers for next...
Bank Nifty has been very weak from the past couple of sessions. It also broke its trend line as it was moving in a rising wedge channel. Today's gap-up also did its retracement.
Trend line also broken in RSI(daily Time frame)
If opens with a gap-up very likely to come back @ current levels
*Important levels are depicted on the chart