ParimalDevnath

ParimalDevnath

Steep and furious price move. Now consolidation forms a High and Tight Flag pattern. Breakout will take price at and around 640.

ParimalDevnath

Double Bottom support. We can start counting the EWaves from this zone. Price has shot up to previous high in Impulsive 3rd wave and then made some correction/ consolidation towards 200 DMA making 4th wave. And now again price is showing signs of next wave of 5th. If top of 3rd wave is surpassed and held, 5th wave will be completed. Target can be 4200+. SL is 200...

ParimalDevnath

Highly oversold condition does not mean much. The stock trading below 200 DMA. Downtrend. Every technical rise has been sold out. Now of late price has formed boundaries. Price is moving within a small range-- rectangular range. If not able to go above 200 DMA, downside breakout is highly likely.

ParimalDevnath Updated 

All PSU Banks are blazing. So Bank Nifty scaling dizzy height, life high. SBIN is also reaching to previous high. A breakout will have strong influence on all other PSU banks and BN. Till that happens, some consolidation is possible. India is entering the month of general election. This will have strong bearing on market.

ParimalDevnath

Rising channel. Bullish sentiment. I shall not short this counter. I shall go long when price comes down to the support line.

ParimalDevnath

BN broke out and razing. Breakout means-- previous high or low is breached. It means strong confidence of the traders that this previous price can be used as a good reference point for further move of price. BN has given two breakouts in recent time. Often Nifty follows the path of BN. Nifty has to scale approximately 200 more points to give an upside breakout.

ParimalDevnath

Bad communal sentiment created by the company advertisement. Price slashed towards 200 DMA for support. There is a Positive Divergence visible on MACD indicator. One can go long when price crosses 200 DMA. Small SL will do.

ParimalDevnath Updated 

Price broke out of the resistance (previous high) level and then a pullback towards the breakout line was seen till yesterday. Today at the second half of the trading session, price shot up from the breakout line. 1387 is the immediate resistance level. Expiry is close by. As per OI Table immediate resistance is at 1400 where bears have built huge position by...

ParimalDevnath

Steep rise comes to a pause. Time for consolidation. There is a Negative Divergence on Stochastic Indicator. Though trend remains bullish some correction and/or consolidation is normal. Bulls are supposed to book profit. This is evident in steep rise in Call OI of 11600 strike. 11000 Put is held as the second highest OI. So this is a strong support. Now 11500...

ParimalDevnath

A breakout stock behaves differently. Any pullback towards the breakout line due to market pressure will make a buying opportunity. Good stock for long term investment. SL--keep it 1.5 percent of the total investment.

ParimalDevnath

For last one year the level of 1200 is posing as a strong resistance for the bulls to breakout. Now one more attempt-- this being the fifth. A successful breakout will take price to new height. On the OI Table, 1200 has the highest Call OI -- total 151500 shares. Put support lies at 1100 which has a small amount of OI position--total 23500 shares.

ParimalDevnath

As Nifty travels towards the previous top 11752, bulls will be careful. Consolidation is expected. Generally BN takes a lead. Nifty can also make a breakout from the level of 11752 taking price to new highs.

ParimalDevnath Updated 

Lower high, lower low. Trend is down. Confirmed by price ruling below 200 DMA. Now price is at long term support zone. Technical correction on the upside is possible. Else a breakdown from the present level taking price to new lows. The stock did not take part during the present bullish trend.

ParimalDevnath

Probable wave count, High and Tight Flag pattern, 200 DMA. Triple Bottom pattern propelled the price towards 200 DMA. 3rd impulsive seems done at 200 DMA. A High and Tight Flag is forming in consolidation. Breakout above 200 DMA and the Flag resistance will take price towards 480-500.

ParimalDevnath

Probable Wave count. 3rd Impulsive is in place and immediate target might have been made as the price reaches resistance at previous high. If this count is correct, at this level 4th may unfold in the form of a consolidation/correction. If this resistance is crossed, price will give a strong breakout taking the price to previous highs. This is one of the several...

ParimalDevnath

Breakout. Pullback was short. Negative Divergence was ignored. There is one more Negative Divergence. Let us see how it pans out. Momentum is very bullish.

ParimalDevnath

A probable wave count (I can be wrong). Almost 80 percent retracement is done. 3rd impulsive is running. So it is possible that the resistance of the previous high will be reached. Momentum is very bullish. OI Table: If price remains above 11500, 11600 can be attempted.

ParimalDevnath

Triple Top Pattern, Breakout attempt, followed by pullback. OI Table reading gives support and resistance levels. Strong support at 1200 and strong resistance at 1400. 1300 will play as a decision maker. There is a Negative Divergence. Below 1300, price can move towards 1220-15 and above 1300 price can move towards 1375-80. After a big pre-poll rally, Nifty may...