We have a short analysis of trend of how market is reacting to the emotions of market. (This is not a prediction or an recommendation to buy or sell this is purely for study purposes)
May test the levels of 38k based on the analysis we can clearly see the patterns which are forming.
Began a downtrend and made a correction at 0.5 fibo levels and formed head & shoulder pattern and again resuming the trend. Entry :- 632 to 636 Stoploss:- 643 Target :- 620 ++ Reasons:- 1.0.5 fibo rejection 2.Head & shoulder pattern breakdown 3.Volume support 4. down trend
Spike In volume in 2nd Bottom Compared to 1st Bottom Both Indicating an uptrend
Will be buying at an range of 360 to 370 withan stoploss of 341 with an target of 440 Entry :- 360 to 370 Stoploss:- 341 Target:- 440 Reasons:- 1. Breakout 2.Good volume support
Nifty is standing a a very key support region once broke can expect an downfall, but as per my view it will bounce back a little and then it will go down.
0.236 acting as a good support And at same levels its acting as a demand zone "Not to worry about break-away gap" These gaps are often a good indication of bullish moves in the market. And are often created after a major completion of price action pattern. Let me know You views also.
IN JAMMU & KASHMIR BANK, i see a formation of double bottom pattern and a breakout with really good volumes i personally bought the stock @ 25 hoping for a target upto 44
Technicals:- Tata Coffee has given a Breakout from a very tight range, and it is also supported by volumes. Fundamentals :- Stock P/E stands at- 17 Cash flow in the company is good After the corona crash the company has made a good recovery. Q3 PAT is 32 VS 25 So we see the recovery.
GIVEN A BREAKOUT AND ALSO MADE A RETRANCEMENT LOOGING GOOD TO LONG
The major gap which was given created is finally filled and hence a breakaway gap was created and now i am expecting an easy target of 372,
Accumulation is going on from a very long time Price may shoot up once broke the Ressistance.
Tata consumer is standing at very crucial support once the ressisrance is broken and sustained we might see an up-move.
Bullish view Reasons:- 1.Dynamic support 2.Price support 3.Channel Pattern 4.Volumes indication of weak down trend 5.Fibo levels @ 0.5% If not an direct upmove we might see some consolidation and then the stock may shoot in upwards direction. The EMA and the support are very crucial levels lets see if they could sustain.
Due to the earnings declaration the prices were hammered, and hence was opened as gapped down, Reasons For Selecting:- 1.Trendline acting as a support 2.Stock respecting Fibo levels 3.Double bottom pattern 4.Gap Filling. placing a stop-loss @ 375, Followed by the Targets 1 & 2