Bank Nifty has broken the trendline and the major resistance at 22,500. It will now act as support for the index as it surges forward towards levels of 24,000.
The above is for educational purposes only.
Tata Consumer Products breaks 52 week high level at 400 with high volumes.
Target for this stock is 500 though it may take some time due to profit booking. Crucial support level is 400.
The above is for educational purposes only.
Tata Motors breaks the trend line with a decent volume.
Buying signal for swing traders. Target 110. Stop Loss 105.
The above is for educational purposes only. Kindly make your own analysis before investing
Short on BPCL at current levels because of following reasons:
1. Ascending triangle formed on BPCL daily chart along with lower volumes in the last few days. - Indicated a break-out at a lower level
2. Fibonacci retracement places the next resistance level at 400. Stock expected to retrace to 360 levels
3. Simple bearish divergence noticed on the Daily chart...
ICICI Bank forming an ascending triangle pattern on daily charts with resistance at 380. Major resistance as per Fib levels is also at 380.
If ICICI Bank crosses 380 levels with conviction on hourly charts, big upwards move towards 400 levels will be seen wherein the 200 day EMA is placed.
However, if Bank Nifty breaks the trend line and moves downwards - ICICI...
Infosys formed a rising wedge on daily charts with the last day closing on the edge of the Bollinger Bands (with 3 std deviations).
If it does not break 770 with volume, it will fall back towards lower trend line of 725 levels. However, if it does break 770 with volume, it will rise to 810 levels.
The strong gain made by Rupee on Friday along with the daily...
Nifty forming a rising wedge on daily charts. It recently crossed 200 day moving EMA and the crucial resistance at 10,585.
If it does not hold 10,600 levels, it would retrace to 10,000 levels.
Duration for this retracement: 5-6 working days.
If it remains above 10,600 and breaks 10,700 with volume - It will rise to 11,300 levels.
The above analysis is for...
An ascending triangle is formed in Bank Nifty with major resistance at 22,500. It is also the 50% resistance level as per the Fib retracement. Lower volumes in recent days support the above hypothesis. If the trend line is broken with good volumes, it could retrace back to 20,000 levels
