1. Looks like fall has been arrested at 21647 but still we cant rule out the possibility of nifty bank touching the strong support level of 21342.
2. In the next week Nifty bank will bounce back strongly from 21342 support level with expectations of 23000.
3. While is the up move, it will take Axis Bank, ICICI Bank and HDFC Bank along with it as all the stocks are...
1. ICICI Bank's result beat the street expectations and posted positive results.
2. Next immediate resistance is placed at 413, so we can safely expect this target.
3. Tomorrow will be gap up opening day for ICICI Bank.
1. Since 3 months ITC is respecting the channel pattern also tried multiple times to break the pattern only to fail.
2. Its R1 and R2 are placed at 218 & 237 respectively.
3. Its S1 and S2 are placed at 180 & 159 respectively.
4. In my personal opinion, prices will go up after touching the lower line of the channel.
5. Its opportunity to accumulate shares as at...
1. ICICI bank is trading in the channel pattern.
2. Its immediate R1 should be at 379 and R2 at 392.
3. Its S1 and S2 is placed at 325 and 285 which is distant dream.
4. If prices retraces then it will come down till 345 max to max to respect the channel pattern again.
5. Overall trend in this stock is bullish.
1. Axis Bank is trying to break the channel pattern since last few trading sessions. If two green candles get form above channel then prices will move on for 468.
2. Fibonacci retracement on 1 day chart shows the expected 0.38% retracement point at 466.
3. Also Trade base fibonacci extension shows 0.61% up move at 466.
4. By taking cognizance of all the three...
1. HDFC Bank is following and very well respecting the channel pattern in 1 Hr. time frame.
2. It has bottomed out its lower trend-line in the channel.
3. In my personal opinion, prices should move on from this level and its 1st TP should be 1100 and 2nd TP should be 1120.
1. For 2-Jul & 3-Jul, Axis bank's prices were respecting CPR very well. In fact 3-Jul's prices were 100% within CPR range.
2. As I mentioned in my previous Idea, this narrow range is something unusual for Axis bank.
3. On 3-Jul,Bank Nifty was down 100 points as well as other banks were under pressure. Despite this Axis bucked this trend and stays on course.
1. For DLF, since 19-Mar-2020, prices are locked in the channel pattern. During this period prices respected the channel lines most of the times.
2. Since 23-Jun to 30-Jun, prices are in downtrend in the channel pattern.
3. 1-Jul & 2-Jul candle is showing upward trend; In my personal opinion, prices should go upward from here onward.
4. It might touch 170 within next week.
1. On 2nd Jul, prices traded in the CPR range for most part of the day. They respected the CPR range very well.
2. Prices are trading in the narrow range, which is abnormal for the Axis bank stock.
3. Tomorrow big move is on the cards for sure.
4. First two candles will give directional bias.
5. If day's CPR is breached then prices will move big in that...