SudharsanG

SudharsanG

As I said in previous post, nifty travelling in a parallel channel, after hitting the top end of the channel it is travelling towards the lower end of the channel. 15600 remains a strong support.

SudharsanG

Two days back b.nifty forms a dragonfly doji candle on daily timeframe, followed by a gap up on the next day, now a small pullback towards the trend line. These indicates some sign of trend reversal going to happen soon. Today FED meeting going to happen, that reaction will reflect on our market tomorrow weekly expiry, so trade carefully.

SudharsanG

Nifty again hits ATH today but the price slided afternoon. 1. In hourly chart, nifty clearly forms a negative divergence in RSI which is a negative sign. 2. It is travelling in a parallel channel, the price hits the top end of the channel and slided slightly. considering those two factors, nifty might retouch 15600 levels, lets wait and see tomorrow.

SudharsanG

Bank nifty closed above the weekly CPR, which is a sign of positive today. But the price forms a HNS pattern in 15 mins chart, the neck line should not be broken tomorrow, otherwise it will head towards 35,500 levels.

SudharsanG

Compared to bank nifty, nifty seems bullish as the ascending weekly CPR confirming the uptrend. 15600 remains a strong support, breaking the 15850 levels may elevate the price upto 16k levels.

SudharsanG

Banknifty is struck between the downward parallel channel, if you want to go long in bank nifty first it should break the upper trend line. Second, it has to moved and sustain above the weekly CPR levels (35,300). If these two condition met in upcoming days, one can go long in bank nifty, otherwise the price can drag down to 34400, 34000 levels.

SudharsanG

Same as the IT index, tech Mahindra also ready to breakout from the 5 months consolidation zone. keep watching...

SudharsanG

As you see the price it is struck inside the rectangular darvax box pattern as same as Nifty IT index. Nifty IT index has made breakout the resistance and hit ATH, the same way we are expecting the HCL also break the upper resistance and enter into uncharted territory soon

SudharsanG

Our nifty IT index has made breakout and entered ATH zone, the is the right time to invest in largecap IT stocks.

SudharsanG

As the IT index has made ATH after 5 months of consolidation, its time to look out some hot IT stocks. As the price started to move from the lower end of the channel it can move upto upper end in 2-3 months.

SudharsanG

After 5 months of consolidation, the IT index has breakout from the box. As Largecap IT is not performing well because they are the heavyweights of the index, now it time to bet on large cap IT giants like HCL tech, TCS, Infosys etc.,

SudharsanG

Though nifty closes in ATH, only the metals, IT and Pharma sector are doing well. The nifty heavyweights Bank nifty is not performing well for the past few weeks, without their support its difficult for nifty to reach further levels. Before making a new high nifty also may correct to 15650 or 15500 levels.

SudharsanG

Bank nifty looking weak, only the option writer is making money from this volatility. Go Long only when it sustains above 35700 levels, otherwise possibilities of touching 34,300 levels is high.

SudharsanG

Today, the price broke the trend line resistance. The price may retest the resistance line before making a big move.

SudharsanG

The price breaks the multi year Parallel channel resistance, this may lead to new high.

SudharsanG

As I said in earlier post, b.nifty touches the 35,000 levels, now it bounced back to the trend line resistance. Tomorrow, the price sustaining above the trend line will push the price to upper levels otherwise the price may retouch 35,000 or breaking further may lead to 34,400 levels.

SudharsanG

As you see in this chart, whenever the price touches the 20 day SMA, the price tend to move upwards. Now it has taken the trend line support too, so chances for upside is high.

SudharsanG

The stock finished its correction and started to travel in uncharted territory once again. RSI is very bullish, as monthly, weekly and daily levels are above 70, tells it has high potential to give high returns.