There is very clear hidden divergence in the chart with breakout level 16350 with a support of 16200 this breakout can give a good up move towards 16400++
IF WE FOCUS ON THE WEEKLY CHART OF NIFTY WE WILL FIND THAT AFTER EVERY DEEP CORRECTION THERE IS A DIVERGENCE AT THE BOTTOM (EXCEPT 2001 & 2016) & MARKET SHOOT UP FROM THERE SO I AM WAITING FOR A BULLISH DIVERGENCE IN NIFTY WEEKLY CHART FOR THE CONFIRMATION
NIFTY ON THE WEEKLY CHART MOVING IN A CHANNEL & NOW VERY NEAR TO THE LOWER END OF THE CHANNEL IF IT BREAKS THE CHANNEL THEN IT WILL OPEN THE DOOR OF A PREVIOUS SUPPLY ZONE WHICH IN THE RANGE OF 10800 TO 10570
RSI IS NEAR TO 30 WHICH IS A STRONG SUPPORT SINCE MANY YEARS & FORMING A PATTERN LIKE A WEDGE
THE MOST INTERESTING THING THIS FALL IS DUE TO THE NEWS OF...
BANK NIFTY forms a bullish divergence with a wonderful contrarian setups. For a short term (march month) we can buy above 29360 stop loss 29020 target 29560/29660/29860
Bank Nifty Daily chart finds a bearish divergence pattern with Divergence Count 6.This implies that there is potential in this pattern to work and may be drag prices on the downside which can lead to some profit booking.Trigger of fresh selling will come only below yesterday's low of 30974
ICICI Bank Daily chart finds a confluence of 2 different bearish pattern. First the pattern is Negative Divergence with Divergence Count 3.This implies that there is potential in this pattern to work and maybe drag prices on the downside. Second is a pretty clean Shooting Star pattern. So essentially, we are looking at two bearing pattern confluences together...
In this chart I have plotted two channels the first channel (RED) is more relevant as it's upper border has proved itself as supply zone. The other one (green) is a flat channel which is tested many times when the stock tried to break above the 1826-1835 range.As per these two channels, 1768 is the first level of support from the first (red) channel. if it...
Bajaj Auto Daily chart finds a confluence of 2 different bearish pattern. First is the RSI Divergence with the count of 5. Second is inside bar,So essentially, we are looking at two bearing pattern confluences together which can lead to some profit booking.Trigger of fresh selling will come only below yesterday's low of 3235 .If breaks prior days low we can see...
Tata steel facing selling pressure from 5 previous days & forming shooting star followed by Engulfing
it looks weak if beaks down 395, May fall toward 390/380.
