Raja_Chart_Advise

Raja_Chart_Advise

I have used Pitchfork on the Nifty chart and it is showing me how beautifully the top and bottom have been captured. It is at these lower levels of conviction that we get a signal. Here, two days of lower shadow coupled with an inverted hammer does indicate that the bullish attempt at market recovery could be expected. Till 16800 is not given away one should...

Raja_Chart_Advise

Clear winner with outperformance of the benchmark.

Raja_Chart_Advise

IT index got a good momentum from the strengthening will it now come to rest with the USDINR reviving from lower levels

Raja_Chart_Advise

Buy Breakout not the Fakeout

Raja_Chart_Advise

Markets are having different scenarios. Pattern lies in the eye of the beholder. What are you seeing ? Comment on the chatbox...

Raja_Chart_Advise

Nifty Futures are definitely primed to open with a gap. While we are used to gaps by now. The inflexion point as seen on the charts will come into play as we begin the day. A move beyond will definitely attract a fresh round of bullishness. At the moment we are testing the waters.

Raja_Chart_Advise

Interesting setup on USDINR charts as the sharp rally seen over the last few days has triggered widespread panic and chaos. Now, the pair has reached important cluster resistance on Daily charts and will attempt to surpass it. Its a very important resistance zone as its created with reference to its all time high of 77.02. A closing above 75.80 will definitely not...

09:34

Raja_Chart_Advise

Post its substantial decline since the budget the markets are attempting recovery as we head towards the end of July expiry. While the hesitant bullish charge continues to make its way upwards. Certain stocks are showing some sterling recovery either due to its oversold conditions or due to some newfound value proposition that is being discovered. The trends...

Raja_Chart_Advise

Some recovery seen post the crude oil inventory. The supports seen over the last two days seems to be fueling some upside. Repeated attempt to breach supports have proved futile. Now the pus to the upside is indicating possibilities of some rise in store.

09:29

Raja_Chart_Advise

Bank Nifty continues to highlight the strong underlying bearish momentum that seems to scare away any bullish tendencies at the moment. With a trend so bleak the market has been rewarding all participants who have been on the sell side. Choppy market conditions shall definitely emerge with markets attempting to stabilise next week. Truncated week ahead could pose...

09:53

Raja_Chart_Advise

Despite the best intention to revive from lower levels the trends have not been very sanguine. The repeated attempt to head higher has been met with supplies that are preventing any possible revival. The inability of the market trends to clearly indicate any direction has forced us to resort to some stock specific action. The Asian markets continue to be choppy...

09:07

Raja_Chart_Advise

Markets continue to face stiff resistance on the way up while they attempt to produce a revival. The absence of trends continues to impact the positional traders as the trends do not seem to stretch. With complete lacklustre move dominating the market one can continue to approach next week with a limited range perspective.

10:19

Raja_Chart_Advise

Trends have shown great inclination to sustain the upward drive. Lots of newsflow emerged over the past few weeks and all have contributed to the ongoing upward drive rather than dented the upward momentum. Periodic corrections that have emerged provided a good opportunity to initiate some longs that has fuelled the trend further. Overall bullish momentum seems to...

Raja_Chart_Advise

I had discussed this in detail in the LIVESTREAM done yesterday. Nifty dips analysed around 13800 has been achieved. UBL was a potential long. PETRONET shown here was also analysed in detail. www.tradingview.com Can watch it in the above link.

Raja_Chart_Advise

BAJAJ FINANCE , amongst the favorite counters to initiate a trade on the long side is seeing a different scenario now. With the 21-day lockdown, consumption has slowed down considerably, and discretionary buying is out of sight. With the economy now slowing down even further, the earlier growth rate is hard to achieve.The stock is having one of the most...

Raja_Chart_Advise

Amidst this negative background the USDINR is bound to see a periodic thrust to the upside. The strong upward charge seen in March may have hit resistance zone around 78 but then the potential to move towards that levels still exist. The resistance zone is a confluence of a Fibonacci extension as well as modified Upper channel of the Pitchfork that shall aim to...

Raja_Chart_Advise

Metropolis post its results on 6th Feb did meet with some heavy profit booking that dragged the prices lower by 150 points. However, the momentum in this counter continues to remain upbeat. The dip provided a good opportunity to some strong hands to reenter and quickly place the stock back in contention. On the charts we note that the trends post a steady...

Raja_Chart_Advise

Pharma counters have been under the scanner and this counter after its strong upward run since August 2019 to challenge its former highs formed in March 2019 around 1770 before it succumbed to the selling pressure that emerged at those zones. The sharp decline from these levels are now attracting steady selling interest that has dragged the prices lower. With...