ParimalDevnath

ParimalDevnath

Trendline breakout on weekly chart. This is the second week post breakout.

ParimalDevnath Updated 

To develop long term view is always helpful. I feel it necessary. I covered this chart many times in the past. a) 200 WMA played a significant role in understanding the change of long term trend of the stock. Price rise was vertical and within a rising channel. b) At present price has broken out of the Double Top resistance. A bullish weekly candle has been...

ParimalDevnath

Weekly charts combined with major MAs give good trading/investment ideas. In fact 200 WMA is much reliable for direction. a) Price crossed 200WMA on 11.10.2013 which changed the long term trend. Price rose steadily. b) Between August 2015 to May 2016, the stock made several attempts in and out 200 WMA just to keep the integrity of the trend and then rose...

ParimalDevnath

Havells is a breakout stock and price rising in a rising channel. Negative Divergence is visible. If price corrects to 700, which is the channel support, one may go long for a target of 718-20. SL 695. OI Table is favoring bulls.

ParimalDevnath

RIL is a breakout stock. Price moving in a rising channel. Is the price heading towards the top of the channel? That is around 1285. Possible. OI Table: 1100 is the highest Put OI. Today bulls have added (written) huge Put at 1240 (808000 shares) and 1260 (791000 shares) strikes. OI resistance comes at 1300 Call strike, second highest OI. Dips may be bought out...

ParimalDevnath

A Hanging Man Candlestick is visible which needs confirmation. OI Table is favorable to bulls. There is strong support at 11400 and 11500 Puts. Bulls have started unwinding their position at 11000 and shifting focus at 11400 and 11500 Puts. Bears have been consistently unwinding at 11300 and 11400 levels and now shifting focus at 11600 Calls. Nifty is a breakout...

ParimalDevnath

Trend is up. Price rising within an uprising channel. Clear visibility. Correcting periodically towards 50 DMA to rise again. Now price is again at 50 DMA. One may go long (buy Call or Future or sell Put) at 292-3. Target 298. SL 289. OI table supports this trade setup.

ParimalDevnath

Medium Term investment idea. Buy at 1220. Trgt 1- 1295, Trgt 2- 1350+. SL 1210.

ParimalDevnath

I posted this probable EWave count on Nifty 0.17%in March 2018. At present 5th wave is in play. What is wrong in this study? Let me know. Yes, this is not a trading call, but an effort to understand the possible direction of the market. There are other tools also to find the market direction or trend such as MAs, HH-LL etc. Unless we are clear about the long term...

ParimalDevnath

Price rose in a rising channel since February 2018 on the support of 200 DMA -- strong uptrend. At present S&P500 is at the channel top and also reached the previous high. Double Top pattern in place. Generally such a pattern indicates to a crucial inflexion point. From here price can move either of the sides. As the trend is up, there can be some consolidation...

ParimalDevnath

I posted this chart expecting price to reverse from 50 DMA as it did several times earlier. Let me know, what is wrong in this study?

ParimalDevnath

I posted this chart with probable wave count. I also posted this on Flag pattern. Both targets are done. Let me know what is wrong in this study?

ParimalDevnath

I posted this probable EWave count on Nifty in March 2018. At present 5th wave is in play. What is wrong in this study? Let me know. Yes, this is not a trading call, but an effort to understand the possible direction of the market. There are other tools also to find the market direction or trend such as MAs, HH-LL etc. Unless we are clear about the long term...

ParimalDevnath

A market leader and consumption theme. After a strong and steep rise, correction has ensued and the same might have been over. If the trendline is crossed, it will be a price breakout and price may head northward targeting the previous high at least. SL can be placed at the lowest candle bottom --at 1388.

ParimalDevnath

Price broke out of swing high. Life high once more. Price at Pitchfork resistance. Indicators are forming Negative Divergences, especially MACD. OI Table: Bulls are in full command with huge writing of Puts at 11000, 11200, 11300, 11400 and also 11500. 11400 Put strike is the highest OI. It means that bulls are unwinding their position from 11000 Put which has...

ParimalDevnath

Trend is down. Since January 2018 end price has not been able to raise its nose above 50 DMA. Now once more price has reached 50 DMA due to Positive Divergence. Will this stock be able to maintain above this MA or again will slide down from here keeping the spirit of the trend? One may go short with a small SL slightly above 50 DMA.

ParimalDevnath

Breakout of the previous high and also above resistance line of the Pitchfork. OI Table: Bears are running for cover. Bears have shifted their position of resistance from 1240 Call to 1300 Call which is the second highest OI. Still bears have some reasonable position at 1240 Call strike. So if bulls can push price above 1240-42 level and hold onto the same, RIL...

ParimalDevnath

RIL is a breakout stock and I am covering it consistently. Today again price is breaking out of the previous high to make new highs. Trade long and don't forget to apply SL. I have been trading it all through these days. Immediate target could be 1241+ since bears have built some shorts at 1240 Call strike. But bulls are going very strong at 1220 Puts with...