AUROPHARMA had some good run in recent times
The Price action shows, the first major jump happened with lot of volumes and then consolidation and then smaller jumps based on smaller volume hikes
again there is a smaller volume hike, so consolidation expected in the next few days
Entry, SL and Target provided on the charts
VOLTAS is in an interesting zone providing both buy and sell-side trading opportunity
Inference from chart pattern & price action. Looks like it is going to form a double top and fail from there as lot of selling volume is visible
details of buy & sell are provided on the chart
This hypothesis gets void if Voltas directly falls from here and breaches the buy...
Most of the day traders do look at DOW before taking positions in NIFTY
DOW seems to be hitting a resistance zone and may fall from there. would it fall and would this lead to NIFTY further slide, we will see in coming days
My Trade plan
Have marked a decider zone - above which I would go long and below it would go short
Tomorrow if Gap up and crosses the decider we can see a strong short-covering or long
Possible reversal zone (PRZ) - @ 380
Sunpharma has been on a down run since Jan end. Today it got retraced from channel bottom.
As the whole pharma sector is going down, tomorrow it may go down a little further.
Bullish Bat Harmonic Pattern is seen developing near the channel bottom and possible reversal from 380 can happen
The Target for positional trades...
NIFTY after a huge fall yesterday is expected to GAP UP or can retrace in the initial 15 min (just a guess when saying 15min ..), after that it is expected to continue its fall
The sell zones are marked and profit booking zones are marked on the chart
MindTree is presently is getting squeezed for one more break-out
if it breaks out on long - target would be 1031.5
if it breaks down on short side - target would be 950
Lets see how it plays out in next couple of days
Sunpharma Looks weak after its quarterly results
Have provided two entry points
High and Low of Fridays candle - You can enter short trade if it touches high of friday candle with stop loss of 5 and if its gaps down and touches friday's low - still you can short with stop loss as fridays close
The target is open - so keep booking profits and keep trailing...
Bharti Airtel NSE:BHARTIARTL vs Vodafone Idea NSE:IDEA
Both posting heavy losses
AGR woes for telecom operators - 24th Jan deadline for payments, airtel 35k crore outstanding, idea 50k crore outstanding
both want curative measures from govt
airtel claims will be routing some funds from funding that they have secured, idea hasn't published what they would be...
Most discussed topic these days is - has Nifty peaked out and correction on cards
My view - Not yet , it still has some steam left and can possibly touch 12500 before the budget
will it reverse from 12500 - Possibly yes
reasons - 12500 is near fib level as given on charts
- channel upper band
my Trade - long with a target of 12450
a clean cup and handle pattern on weekly chart for bajajfinsv
Its going to re-test the neck line on chart soon .
after touching the neck line while re-testing its difficult to tell if its going to bounce or drop from there as doesnt have a very clear volume during breakout
suggestions - welcome - how do you read this chart ?
took support from the EMA and closed in green today.
tomorrow in opening hour or so may show some correction but likely to end in green - rsi in buying zone
entry and sl shown on chart
don't enter the trade if the metal index goes for a big gap down tomorrow