ParimalDevnath

ParimalDevnath

Bearish below 200 DMA and price at Double Bottom support. Holding the same may move towards 200 DMA again. All IT stocks are in correction mode after handsome rise.

ParimalDevnath

BN has given two breakouts. Now price may pullback towards breakout level to gather momentum to make new highs. Nifty is yet to breakout and it may take some time.

ParimalDevnath

Moving within a rectangular limit. Price now near the support line. Maximum low can be 200 DMA. May bounce back to face resistance line above. Small SL.

ParimalDevnath

Formation of High and Tight Flag, a bullish pattern. On breakout, price can reach 3200-- the length of the pole. Small SL is necessary. Market is trendless. It will remain so till LS poll.

ParimalDevnath

Moving in a rising channel. Price at support holding the same may reach the channel resistance. Small SL.

ParimalDevnath

Breakout of Ascending Triangle. With this breakout, one may like to be cautious for two reasons: a) Nifty at Golden Ratio, and b) a Negative Divergence is developing which is yet to trigger. If these two obstacles are cleared by bulls, Nifty may eventually rise towards 11400+ failure of which Nifty can go down below the trendline. First sign of weakness will be a...

ParimalDevnath

Absence of resolution. Neither bulls nor bears are able to settle with these two trendlines of support and resistance making the Ascending Triangle. Both are glued to 200 DMA. Until such time Nifty will remain trendless. Post budget, market participants will watch political events such as unity of opposition parties, Ram Temple issue etc., which will have strong...

ParimalDevnath

Price heading towards 1320-32 which is the resistance level of Double Top pattern. All dips will be bought out. Strong uptrending stock. Today Nifty got boosted by RIL and Tata Steel.

ParimalDevnath

High and Tight Flag on weekly chart. Probable target is 200 Week MA. The Flag is yet to trigger. We shall wait for the trigger.

ParimalDevnath

This is what I wrote yesterday: Breakout, Long term price resistance breakout. This is significant. Now any dip towards the breakout point will create a buying opportunity. Suits well for medium to long term investment.

ParimalDevnath

Weekly chart. (Daily chart too has the same stance). Great chart. Strongly bullish chart. Double Top pattern. Price at tipping point. A breakout will take price to unchartered territory. OI Table: 620 Put has the highest OI (for February) which has 1608000 shares. 700 Put has the second highest OI at 45800 shares. As per OI, above 750, 800 is a small resistance.

ParimalDevnath

Strong support zone. Positive Divergence triggered. Falling Wedge pattern on day chart. Target of divergence can be 220 -- 200 DMA. Target of Falling Wedge can be still higher. Buy Feb future. Investment will be 111000 approx. Hedge by buying Feb Put 200 at 6. Lot size 3500. Total investment will be about 150000. If target of 220 is achieved it will give profit of...

ParimalDevnath

Breakout, Long term price resistance breakout. This is significant. Now any dip towards the breakout point will create a buying opportunity. Suits well for medium to long term investment.

ParimalDevnath

It was too bad a crash. Now it looks very ugly. Another breakdown. Sentiment is totally ruined. 75 points of consolidation broken on the down side means 100 may come in due course of time. In plain words, 700 becomes 100. This is joke. And nobody is laughing!!

ParimalDevnath

Profit booking or short covering. Last hour act of covering the shorts pushed the price up from days low. Now if 10675 cannot be cleared, price can again come down to the support level of 10612. Nifty may witness lot of volatility in coming days due to expiry and Union budget to be presented on 1st of February.

ParimalDevnath

Second day of breaching the support channel. What OI Table indicates: Support may be found at 10500. All corrective/technical rises will be sold out. Bears are in command. Forget 10900, even if 10722-30 comes, it will be a good selling opportunity.

ParimalDevnath

Wild swings seen on last trading session. For the first time price has breached the support line created since 3rd of September 2016. This may indicate that bears are taking onto market command. Now if 10800 provides support -- as per OI table-- Nifty may see the level of resistance built at 11000 (highest Call OI). Failing to hold above 10800, support comes at...

ParimalDevnath

Price rose with the consistent support of 200 DMA and the fall from 1331 to 1016 is retraced to Golden Ratio and presently holding above it. Resistance is placed at: a) 1271 (previous high) and then b) 1331. Expecting some consolidation at and around this level to gather fresh steam to face resistances.