Nifty fell from 11000 to 11260 levels in three sessions. we may see nifty losing steam here and react from this zone. this zone also happens to be the 50% retracement of the previous fall. i am watching this level closely. i will be initiating short trades from here on in Nifty and other weaker stocks if there is a negative signal on nifty.
The demand zone lies between 897/730 for supreme industries. A great quality business which can act a parking space for some money if markets go bearish . The stock has fallen a lot this month however the volumes are merely half of the previous month, this indicates that there isnt some serious selling by the big players. Can look at accumulating this stock if it ...
We are looking at a monthly chart of muthoot finance. September months volume is almost 3 times the regular volume and current candle with this huge wick is suggesting more weakness in this stock. Watch out for 365/360 levels, if the stock closes below these levels. it can slide lower
Looking to go long above 28/09/18 high with good volumes with a stop at 720 for a target of 801. THe daily volumes have been rising and the weekly volume is rising with a strong candle. Looks like a decent risk reward trade.
There is possibility of Glenmark breaking the last 3/4 day trading range. The volume is quite substantial and the last hour of trade has been marking up the price. Generally late afternoon strenght tends to have a follow up the nxt morning. THe pharma sector is trending so momentum will support the rally.
There is a high possibility of a BO for mindtree above 1158. RSI is upwards of 70 so taking the trade with caution. BO's are high risk and high reward, quick in and quick out trades. look for huge volumes supporting the BO. Delivery Percentage has been falling so tread with caution