Mayur-Shah

Mayur-Shah

We have moved down from the previous medium term channel and also broken above the short term downtrend channel. The 2 new channels drawn have an alternate which captures the complete move but I have left it out for now since some support visible at 0.70RT of the small upmove. Break blw previous swing low will necessitate redrawing of the regression channels.

Mayur-Shah

Price action is quite horizontal since 2021 compared to the relentless straight line falls in the SPX. We are not ring fenced from the global markets and sooner or later we may see a strong sell-off. IT sector is already in the throes of a deep selloff spiral. Nifty has plans to wing its way out of the global turmoil on the back of strong retail inflows. Its a...

Mayur-Shah

Depression happens fast !! We should see a crack to 3400 and lower towards the end of the year. Till We don't breach the red zone there is no bullish view on the US markets. WXYX-Z

Mayur-Shah

With the slight upturn in Ratio Charts of Nifty IT/Nifty. This stock is a good LRL.

Mayur-Shah

We are at +SD3 for the first time in this move up from June 22. 167XX is the level to watch out for. The rally must not break below this level.

Mayur-Shah

Still in a state of distress, Low risk longs can be taken here.

Mayur-Shah

Reasonably strong bounce, Channel breakout is still quite far away.

Mayur-Shah

Expected path marked for the current upmove. Gap Zone left by the bears must be captured decisively before any bottom formation can work.

Mayur-Shah

We have rolled back precisely to the FEB 2021. Weekly close above 15782 will help to carry forward the momentum over to the next week.

Mayur-Shah

TATASTEEL is returning to test the band on monthly charts and excellent opportunity to buy the stock on declines.

Mayur-Shah

DXY UP EEM & SPX DOWN USINFL UP USBONDS UP CRUDE UP. Risk OFF sentiment will lead to chase of US BONDS & Dollar strength against currency basket will lead to further exit of FII & FPIs

Mayur-Shah

The previous chart was not looking crisp due to error in overlay.

Mayur-Shah

The rout has been across both the sectors. One need not blame only Cryptos !!

Mayur-Shah

Nifty Bounced from -SD3 to +SD3, but the 2nd drop extended to -SD4 & today we have a clear rejection from +SD1 so we should in all probability extend to -SD4 on the down side. Confirmation only on break below 157XX marked in yellow. SL for the trade is Placed at 164XX marked in red

Mayur-Shah

A slight modification to the previous Fibo extensions.

Mayur-Shah

A rebound to 17000 can be expected only if markets trade above 16400. 16400 is the line in the sand for bears. Till we are below it lower targets are open.

Mayur-Shah

We may see respite in selling if Gold Futures can break blw 493XX.

Mayur-Shah

How do we continue Covid-19 ? That should be the single point focus for this stock.