ParimalDevnath

ParimalDevnath

Price corrected from life high and gone below 200 DMA. Now price is trying to breakout of the Trendline. Can be a good investment proposal for medium to long term. Immediate targets are marked.

ParimalDevnath

a) Trading Gap is filled, b) 50% retracement is done, c) Negative Divergence is developing (yet to trigger). If divergence triggers, bulls will give up the hard battle. Price can even slide to the swing low for support. OI Table is tilting on bulls. It has strong support at 10000 Put strike with highest position followed up by 10200 Put strike. Immediate...

ParimalDevnath

Price broke out of the long-held resistance level. Now depending on market condition price, may pullback towards the breakout line which will provide a good investment scope for intermediate to long-term. Target can be close to 3400-- previous swing top. SL is the breakout line--so a small SL. So good risk-reward ration. Pharma industry has turned up from a...

ParimalDevnath

Bulls charged. Trading Gap of 2.10.18 has been filled above 200 DMA with a Gap up. A Negative Divergence is forming. It has to triggered. Hourly chart -- during last three hours of trading price hit the same upper level and thus Tweezer Top is formed on candlesticks. This may indicate that a consolidation will come by. The distance of 11751 to 10010 has been...

ParimalDevnath

Nifty has raised its head above 200 DMA and trading inside the Trading Gap with a Gap up. Now moot question is whether bulls will be able to hold above 200 DMA. At this moment of time I see a large change in OI Table. Suddenly 10900 Call OI has turned as the highest OI. Bulls are pocketing the profits. Traders will reposition the trades on this day of expiry. A...

ParimalDevnath

We may like to stick to the same objective study with slight clarity that since the first resistance is close by, there may be some profit booking. So if price makes some little correction towards the breakout line, we may reenter long position with an SL at the breakout level.

ParimalDevnath

Luckily on the expected line-- price breaks out of the Trendline.

ParimalDevnath

Nifty may be heading towards 200 DMA and the Trading Gap once more. Today Bulls have gathered some more confidence at the tail part of the session. But unless and until 200 DMA and Trading Gap are surpassed and held, trend wont change. Till then we may consider this period as consolidation phase. Today India VIX has reduced by more than 2.5 points than...

ParimalDevnath

638 is crucial -- 200 DMA. Today price reached 200 DMA backed by Long Legged Doji Candlestick and Positive Divergence. If this level is held, price may give a breakout above the trendline then price may head towards resistance levels as marked on the chart.

ParimalDevnath

A small negative divergence and price is cutting down from resistance of Trading Gap and 200 DMA. The Candlestick pattern is of Three Black Crows which has bearish implication. Expiry week is here and now. Volatility may haunt the sentiment. OI Table provides some insight. Bulls are holding onto 10000 Put OI with reduced quantity. Bears have built their position...

ParimalDevnath

Price ignored Rising Wedge Pattern and now form White Soldiers Pattern. Both of these are highly bullish indications. Now price is reaching at 200 DMA-- this is crucial level for trend assertion. So our trade setup can have a small SL-- 200 DMA for both long and short.

ParimalDevnath

Contracting Triangle is forming-- to breakout either of the sides. Price is hovering at 200 DMA.

ParimalDevnath

Breaks down previous low and 200 DMA. Appreciation of INR against Dollar--74.2 to 71.2.

ParimalDevnath

Nifty has reached 200 DMA-- the crucial level to decide the trend. Above 200 DMA is a Trading Gap which may act as a resistance in next few days. OI Table: 10800 Call strike will work as a small resistance followed up by 11000 Call strike. 10000 Put strike has still the highest OI which was used as a good spring board by the bulls to turn the trend in their...

ParimalDevnath

Price reaching resistance level. It may be considered as Triple Top Pattern as well.

ParimalDevnath

Nifty approaching 200 DMA placed at 10756. This will decide its future trend.

ParimalDevnath

Cipla close to the previous support (multiple) level. More cutting down is possible. It is also possible that it will turn around from here since Pharma is doing the same. Good investment chance keeping a small SL.

ParimalDevnath

Price at long term support level. May turn around.