ParimalDevnath

ParimalDevnath

Hourly chart. Price moved from support zone boosted by Positive Divergence and easing out of trade war between China and USA. On weekly Hammer candle was an probable indication. Price above 50 DMA reached 200 DMA once more-- this being the fourth time in recent times. Like yesterday's candle, today's candle has been a big bullish candle. OI Table: 10000 Put OI...

ParimalDevnath

Weekly chart-- a Hammer has been formed which may indicate reversal. On the daily chart today a big bullish candle has been formed. Defeat of BJP has been ignored by the marketmen, it seems. Nifty has halted at 50 DMA. If tomorrow price moves above 50 DMA, Nifty will face resistance at 200 DMA.

ParimalDevnath

Winning over 50 DMA is significant for bullishness to come back. Below 50 DMA is bearish.

ParimalDevnath

A Hammer Candlestick (Inverted) has been formed. Gap down and down below 200 DMA are certainly bearish. All eyes are fixed on poll results to be declared tomorrow. Exit poll results have shattered the market sentiment. Tomorrow will be a volatile day as the counting starts. Moreover, resignation of RBI Gov. may not be a good thing. Market will not take it with ease.

ParimalDevnath

Double bottom pattern with Positive Divergence.

ParimalDevnath

Double breakdown. Possible First Target is marked. Second target is 200 DMA if market favors the bears.

ParimalDevnath

Price at critical support zone.

ParimalDevnath

This chart carries weight. Price is within a range but centered around 200 DMA. Means, neither bulls nor bears are confident. No easy way out unless and until this range is resolved by either of the parties. Once resolved, it might have strong bearing on other indices of the world.

ParimalDevnath

Breaking below 200 DMA, Price stopped at 50 DMA. If this is broken, the previous low, which is the base of the Rising Wedge, can be the immediate support. OI Table: 10000 Put has the highest OI followed by 10200 Put. So 10200 may be the immediate support.

ParimalDevnath

This is what I wrote on 2nd Dec.18: Price at resistance and a Negative Divergence is seen. Now stock may run either of the sides. If breaks out off the resistance then new highs may be witnessed or if breaks down due to Negative Divergence, then 1300 may come by. There is a Tweezer Top pattern formed which is posing as a strong resistance for bulls. a) Sell Dec...

ParimalDevnath

Break down of the last support. New lows are coming.

ParimalDevnath

Reliance: Price at channel support.

ParimalDevnath Updated 

Price at resistance and a Negative Divergence is seen. Now stock may run either of the sides. If breaks out off the resistance then new highs may be witnessed or if breaks down due to Negative Divergence, then 1300 may come by. There is a Tweezer Top pattern formed which is posing as a strong resistance for bulls. a) Sell Dec Future at 1433 and hedge the short...

ParimalDevnath

Price faced resistance at 100 DMA and today reached 200 DMA and halted. This level is critical for trend assertion. Negative Divergence is triggered but is not having strong impact. OI Table is favoring bulls. Option Pain is also bullish. My view is that till 11the December (Assembly poll results) market will remain choppy.

ParimalDevnath

Almost both targets are made given previously. Today a Hammer Candlestick has been made depicting indecision. OI Table may give us some idea. 620 Put is the highest OI, second highest OI is 670-- strong uptrend. 700 Call is the third which is posing as the immediate hurdle. Above 700,720 is the target.

ParimalDevnath

Breakout, it seems. In a down market price is holding a rising above the breakout level (of Double Top) despite Negative Divergence on Stochastic (MACD and RSI have not generated Negative Divergence). I mentioned yesterday that this may be traded by hedging the short position. Now, if we look at the long term chart, we see that the stock is in a strong uptrend....

ParimalDevnath

Price corrected sharply and now gaining upward momentum. Price at 200 DMA. Above one can go long keeping 200 DMA as SL. A good upside may be expected. Immediate target may be 811.

ParimalDevnath

Divergence play. Positive Divergence pushed price from the zone of 200 DMA. Now a Double Top Pattern formation with Negative Divergence. One may take a short trade by hedging. NiftyFMCG index has given a strong run up since the middle of October.