Stock has been following the range bound uptrend which seems to be stalling at 745 750 levels.
Given the sharp recovery in rupee IT stocks may see selling pressure at higher levels.
Sell below 737 Stoploss 747 target 721
Maruti had a big rally in last 3 years from 4800 levels to almost 10,000.
This seems to be changing as it showed a Double top pattern at higher levels and broke the trend line.
Maruti is a positional sell with a stoploss of 8800 and targets can be 8000 and 7400.
As you can see stocks has bee following the trend line and broken below recently.
It tried to pullback and failed despite weaker rupee.
And it is also creating a bearish head and Shoulder pattern at top which suggest and trend change which may be short term.
Sell below 2066 with stoploss of 2085 Target 2025
Applied Fibonacci to alltime highs of 11760 and recent lows of 11393.85 and last week pullback high of 11603.
Support lies at above mentioned levels in chart and this correction may feel like it will take us to 11240 levels where there seems to be support emerging.
Sell Nifty Stoploss 11500 target 11240.
Stock seems to be breaking a long term trend line as drawn in the above chart which suggests more selling could come. But its also seems to be taking support at 784 levels so either wait for a retest of the above broken trend line to sell or a breakdown below 780 levels.
Any breakdown below 780 levels with a strong close below that level may signal correction upto...
This is a 45 minute chart of UBL.
Stocks formed a bearish Head and Shoulder pattern at higher levels and broke down. Now its retesting the neckline at 1364 levels which may be a good selling opportunity.
Sell UBL at around 1360 with a closing stoploss above 1375 targets can be 1284 and 1256.
This is a monthly candle chart. Applied Fibonacci levels to 2008 highs and 2009 lows.
Dow Jones index tested a crucial Fibonacci level of 2.618 at 26500 in January and failed, looks like its going for a retest now. Observe the RSI divergence below
Will it succeed? Depends on lot of Global factors and US elections...
PSU Banks have been in a consistent downtrend since the rally they had after 2008 Financial crisis.
This charts looks at last 10 years for PSU bank index and they seem to be following the trend line.
index needs to have strong consecutive weekly close above 3350 for a major uptrend to start until then its a sell on rally.
We should wait for Index to close below...
Applied Fibonacci levels to recent all time highs(1329) and recent lows(1208.5).
Stock retraced quite a bit and testing a crucial Fibonacci level of 0.618 which is at 1283.
This is very important as it may decide the trend of the stock in near term future and also trend of the market.
Right now try buying a put option at low cost at 1280 levels with stoploss of...
This is a weekly chart of JP Associates.
Applied Fibonacci levels to all time low(5.30) and recent highs(30.40).
Stock seems to be taking support at 10.85 levels which is also 0.786 of its Fibonacci level.
Stock can be sold on a small rally till 11.3 levels with targets of 9.2 Stoploss 11.8.
CAREFUL because JPAssociate can be a volatile stock, trading this can...
Applied Fibonacci levels to July lows and August highs.
Stocks seems to have corrected 50% of its rally and taking support at 289 290 levels which is 0.5 Fibonacci level.
It also seems to be following a falling trendline.
SBI can be a sell below 288 with a stoploss of 293. Target is 280.
Applied Fibonacci retracement to Mindtree. Stock seems to be following these levels.
Mindtree gave a breakout at 1100 levels a week ago. Given the trend stock could rally further to 1189 and 1214 levels.
Buy with a tight stoploss of 1150 and expect 1189 on Mindtree.
Applied Fibonacci levels to IT index.
Index seems to be closing above it short term resistance oh 16086 level. A strong breakout above previous highs of 16130 will be a buying opportunity in Tech stocks like Techm Infy TCS Wipro Mindtree which have been strong.
Weaker rupee may be a trigger. But one should wait for a breakout and not hurry since they have rallied...
Stock is closely following the trend line and up move seems to stall at 780.
A break above 780 with volumes is a good buying opportunity with Target of 803 and a breakdown below the trend line which comes around 758 levels may see selling pressure till 745