I went short at 50.5 with a target of 45-46. Looks like the A correction wave in play. The market seems to have formed a top with triple top. Institutions dont buy at peaks, they have been distributing for a few days now and we shall witness a dump soon
This one consolidated in a range for weeks before it broke out, The bollinger band seems to be contracting again so we can expect a couple sideways sessions before continuation of the uptrend. The support and resistance areas are marked in the chart as green and red respectively.
An ideal time to take positions for mid-long term. In the mid term the resistance...
682 (the orange line has proven to be a very strong resistance in the past). We closed above this and the overhead resistance at 691 levels in the past, but couldn't sustain it and closed at the orange line today, which held pretty well, signalling that it is a possible support area now.
If we bounce from here and break the overhead resistance then we could be...
This stock has had a deep correction and started a new uptrend. A break of the uptrend channel that it's currently trading in now could trigger a possible breakout. There seems to be still some room left in the uptrend as this stock tries to find a new acceptance area. Definitely a buy. Supports and resistances are marked in the chart.
It would be idea to wait...
This stock is in ABC correction in the downtrend elliot waves in the weekly chart.
From a long term perspective, a position could be opened at the buy zone marked in the chart and it could give a 15-20% return in a couple months.
For intraday, this looks to be a good short opportunity. The three possible scenarios are marked with arrows in the chart, Take...
NCC has been trading in a range for the last few session. It went sideways for most part of today's session and a move up from here could be an early signal of an uptrend. Prices at which positions can be taken are given on the chart.
Fundamentally the company is good with good long term prospects.
This is not a financial advice
Lately, the PSU bank stocks have been struggling to go up and have shed some of their gains in from the previous months, and have been consolidating.
Oriental bank has been struggling to break the overhead resistance at 91-92 ad has formed a triple test. An ideal place to take long positions would be around 92-92.5 after a convincing break of the overhead...
The support levels are in green and the resistances in red. The three possible scenarios are given in the charts market with arrows, each colour represents a different scenario so you know where to go long and where to sell.
In a break out scenario we could hit the second resistance.
This is not a financial advice
This stock has had a deep correction and started a new uptrend. A break of the uptrend channel that it's currently trading in now could trigger a possible breakout. There seems to be still some room left in the uptrend as this stock tries to find a new acceptance area. Definitely a buy. Supports and resistances are marked in the chart.
It would be idea to wait...
Tata motors has had a deep retracement and has been consolidating for a while and hasn't established a trend in the longer time frames. The company has good fundamentals. However the shorter time frame is in a downtrend and a test of the demand zone is likely
From a mid-long term perspective, it could bounce off the demand zone or break of the overhead resistance...
The longer time frames indicate a trend reversal to bearish. For that to happen we need to break the lower support at 105.25 which would send us into 90s fairly quickly.
However, we know that nothing is 100% in technical analysis. So, in case we dont break the support and start a fresh bullish trend, the green lines would act as a good support where positions...
GAIL is in a downtrend in the smaller time frame and a possible head and shoulder formation on the longer timeframes. So doesnt look like a
good time for long term investment in this.
For intraday, a clear break above the orange line could send it to the red line above. Support at green line for longer term perspective.
An open below the immediate support could retest the lower support at 394 ish which is unlikely imo as we are in a strong uptrend. We could expect the overhead position to be broken with volume in the next trading session which will take us to the next resistance level. For positional Trade, a good strategy would be wait for a bounce from the immediate support or...
The descending triangle and head and shoulder is signalling short term trend reversal. We will probably retrace to the green line where it meets the uptrend line in the higher timeframes and start a fresh uptrend there. resistances are marked on the chart as red
Check out my analysis on longer time frame for Just dial to see why I am bullish on this.
This has a pretty good demand zone at 490-495 levels. It could retrace to the that level before starting the next wave up or consolidate at these levels for a day or two. Support and resistances marked on the chart. I would open a long position only after it breaks overhead...
This was my original post on nifty. It bounced just above the trendline today. It's forming higher highs and higher lows on the daily and on the 15m. RSI looks juicy on all time frames. Expecting a bounce and some green in the market tomorrow. Will it penetrate the trendline again?
The resistance and support zones are in the chart. Just like bank of baroda this one is forming a symmetrical triangle on both higher and lower time frames. A breakout with good volume could start a rally for good returns. If we dont open above the immediate resistance, place your buys in the support zone.
Good luck
In lines with my previous post on bank of baroda,
we are bullish on it in lower time frames as well. The resistance and supports are shown in the chart. There are three overhead resistances in the immediate region and then we might see a rally in the short term. We are approaching the end of a symmetrical triangle which usually means a break on either side....
