Nifty has made a Wedge and holding it as of now. If it hold we can see higher levels and if it breaks it can fall upto 17500. I feel Nifty is in great shape for moving up or perfectly settled for a pull back. One can take a chance and long Nifty with a tight SL of below Wedge line on daily time frame.
As shown above, nifty has broken its three month old trend line. However, Nifty still above its bullish trendline made post COVID-19. It appears that this volatility is fueled by FII selling which help in triggering SLs for many traders. In my view, Nifty is going to touch its bullish trendline in in Nov/ December (with some pull back).
Further, all the...
Nifty has made a hammer on 25 October 2021 at its curial support line. Now, since the hammer at its support line, as per the technical analysis, its a sign of reversal of the trend and hence, I will be considering this as bullish pattern. The pattern will be invalid if the Nifty break lows of 25 October 2021.
PS: Always trade with SL and this view is my...
Tanla Platform is in the business of cloud platform. Currently it is in Additional Surveillance Measure (ASM) - STage 2 of the exchanges and hence, not much move has been shown by the Company. In my limited understand, Tanla has show good Q2 results which are fair in comparison with the prices of stock. Its peer, route mobile also shown similar strong...
CMP Rs. 1613
SL Rs. 1565
Target 1 - Rs. 1645-95
Target 2 - Rs. 1745
AN INVESTMENT IDEA FOR LONG TERM
- View expressed are of personal in nature. consult your financial advisor before taking any decision of investment
- We are not SEBI registered
We dont read about N Pattern in text books/ technical analysis books. But it is a very strong pattern and in most of the case it is observed that once N pattern is broken, a sharp move is provided by such stock.
Currently, Nifty is making HH & HL. Accordingly, Nifty should not break 17220-200. If the same is broken, then Nifty may start to make LH & LL and this would weaken the Indexes for short term till 15800 levels are not broken.
Further, on daily chart of Nifty, we can see formation of dark cloud cover and evening star (approx.). Hence, we can see some correction in...
Target - Rs. 104-112-124
SL - Rs. 87
May breaking trend line;
No major sale volume; and
About to kiss its support!
-View expressed are of personal in nature. consult your financial advisor before taking any decision of investment
-We are not SEBI registered
An uptrend, which is a series of higher swing highs and higher lows, reverses into a downtrend by changing to a series of lower highs and lower lows. A downtrend, which is a series of lower highs and lower lows, reverses into an uptrend by changing to a series of higher highs and higher lows.
In the current case, the Nifty is making LH LL and hence, it is...
Ascending Triangle: An ascending triangle is a breakout pattern that forms when the price breaches the upper horizontal trendline with rising volume. It is a bullish formation. The upper trendline must be horizontal, indicating nearly identical highs, which form a resistance level. The lower trendline is rising diagonally, indicating higher lows as buyers...
As chart shown above, Nifty has made the following technical patterns:
1. Double top;
2. CUP pattern; and
3. At its resistance at 17233.
Let understand the meaning of the aforementioned technical patterns:
1. Double Top - A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a...