Need to watch out for Axis Bank. Breaking either side can help traders fetch 15-20 quick points.
Ashok Leyland can see some correction below 181 mark and could try to test its first support.
Gold is in a very decisive phase. The movement from here can decide the trend for next couple of days. While 1940 is the important support, if this breaks we can see substantial downside in Gold. Holding on to 1940 levels can act as a support for another 30-40 points up which is the nearest resistance for it.
Nifty is ranging between 19900-19500 and it has started to consolidate in a narrow range as seen in the charts. Below 19720 we can see a good risk reward position for 200 down points in the week.
ICICI Bank has a clear bear setup with negative diversion. Market has rejected the 1000 levels thrice in a span of just 1 week and not able to close above the resistance. A closing below 990 level will further validate the journey till 960. #icicibank#banknifty
Bharti Airtel looking weak before results announcement. A negative diversion hints towards possible fall.
Strong buying position being made in Sobha above 455 level with a stoploss below 442 and a first target of 475. The demand zone looks to come into play at this level and it is expected to see the buyers take control of the trend signalled by RSI diversion. If anyone wants to enter for Intraday position the target should be 463.
Buy Ashok Leyland above 112.5. Targets 120-125-134 Stoploss- Below 105 (Closing Basis) Strong support at current levels with a positive MACD diversion. The risk reward is good and the stock is showing good volumes.
BUY ABOVE 285 STOPLOSS BELOW 277 TARGET 310- 330
BUY AXIS BANK ABOVE 717 STOPLOSS BELOW 700 ON CLOSING BASIS TARGET 740-765
SHORT INDUSIND BANK BELOW 913 TARGET 900- 890 SL 919
Aurobindo Pharma looks to breakout the trend. Currently there is a resistance at 1010 range and a strong support on volume profile near 940 range. The stock has tested its low and is currently in the phase of its second leg. If the stock breaks out above 1010 range, buy it with a target of 1050-1100. Keep a stop of 980
ACC looks to breakout above 1900 level. Buy above 1900 Target 1- 1930 Target 2- 1960 Stoploss- Below 1880 (Closing Basis)
BUY SBI 352.5 TARGET 360-365 SL 347.8 Its taking a good support at this price and should take a good momentum here on.
Short divis lab below 4028 The top has been breached and a fall is expected after the first pullback. The stock is low on volumes with a negative RSI diversion and is advancing its 200 ema. More fall will be there if it breaks the trend line.
SHORT TATA STEEL BELOW 1065 BREAKOUT EXPECTED WITH LOW VOLUME BUILD UP AND NEGATIVE DIVERSION ON SMALLER TIMEFRAME.
Buy PNB above 36 breakout as the stock has formed a strong support near 32. The stock has recovered well from its support and is on a roll to give a breakout. If the stock breaks out above 36 level buy it for 39-42 levels in the coming days. If the stock reaches 32, will update for a fresh position if possible.