Stock is at an important resistance level.
We will only trade on a breakout on the upside.
There is no point in shorting the stock if there's a breakdown because the stock is in a clear uptrend.
Even if there is a breakdown, the best is to ignore the scrip.
Buy zone is slightly above the breakout zone to avoid falling for any falls breakout
If we are buying...
Nifty closed on a daily chart with a very strong bullish candle. Closing is important for another reason which is the resistance at 11650-11680 levels. Nifty stayed around 11650 throughout the day & closed at 11647.6.
Open Interest has also added many put writers in the weekly & monthly series which is very bullish for nifty.
On the daily chart, Nifty has been...
A lot has happened in the past few days. Let's Discuss.
Russia came out with a vaccine around 10th & 11th Aug'20 & Gold fell by good points.
The relationship between the Gold & Equity Market is inversely proportional.
which means when equity markets don't perform well over a few quarters investors start pulling out their money from equities and start investing...
Biocon broke the Trend Line in Hourly + Daily + Weekly Timeframe.
Stock will take a pause on the Monthly Timeframe.
Although Biocon looks bullish for the long term on the Monthly timeframe, we can see a pullback in the short term.
There has been a channel breakout but RSI is at its full capacity. That won't help in pushing the stock further, rather hurting the momentum of the stock by consolidation or a fall.
A good opportunity to short the stock.
Fortunately, the 15th of July wasn't a very optimistic day for Dow Jones otherwise it would've ended up making a double top pattern which would've been a new disaster for the global markets.
The uncertainty won't end until markets get out of the COVID levels (or above 100% retracement levels).
For now, DJI is stuck in an 1800 points range. Breaking out will give...
A 50% rise from the latest bottom, that calls for applause !!
Nifty is very religiously following the theoretical definition of a Trend Line.
There has been some seasonal support (*red zone) and resistance (*black zone) that will help in analyzing the next few moves of nifty.
We have a good -400 range on the downside and +300 range on the upside.
The Infamous Double Top pattern has been established.
Wait for the neckline to break for stock to give a move.
The grey zone has some minor resistance & the red zone will be our target.
Happy Trading. :)
Look for any previous pattern and see how the stock reacted.
We have a Flag Pattern (in a blue dotted line) which was executed very theoretically. It also gave us an idea of the direction of the stock. (This won't always be precise although)
The stock went into an Ascending Triangle Pattern after that and is close to giving a Break-out/down.
We have not more...
Total Investment Acquired = Rs 1,04,326.95 Cr.
Total Stake Distributed = 22.38%
Funny thing is if you invest 10,000 crores in Reliance Jio you will get less than 2% stake in the company :).
Also, Jio is the only company in India to build 5G from scratch with everything in-house which is a huge Economic MOAT in itself. For any other company to do that will take at...