NOW, AS POSTED EARLIER, PRICE REACHED 400 LEVEL, THE PRICE SEEMS TO BE MOVING IN A PARALLEL CHANNEL. THE LIKELY TARGET IS 442. STOP LOSS MAY BE FIXED AT 400, FROM WHERE IT HAD BOUNCED.
THERE ARE CHANNELS FORMING WITH THE SAME TOP LINE. EACH TIME THE INDEX REACHED TOP LINE, IT CAME DOWN. AND, EVERY TIME GOT SUPPORT AT KIJUN AND ROSE BACK. THIS TIME TOO, IT IS GETTING SUPPORT AT KIJUN. BUT, BOTH SIDES DIRECTIONS HAVE APPEARED.
FROM THE TECH SELL-OFFS GOING ON AND THE GAP IS THERE, THE PRICE IS MOST LIKELY TO FILL IT. BREACH OF SUPPORT AT 904, WILL ENSURE THIS.
AS PER MY OBSERVATION, THE PRICE HAS TO COME BACK TO 10.5 LEVEL. THE FUND RAISING DETAILS MAY PULL BACK.
THE WAY NEWS LIKE RATING UPGRADES AND NOT FOLLOWING THE BANK NIFTY RUN, IT SEEMS SUFFICIENT BIG TIME BUYING IS DONE. AND, THE WAY SEEMS TO BE TOWARDS 15.8 TARGET (COMES TO 10%). STOP LOSS IS THE SUPPORT BLUE LINE WHICH IS DRAWN.
AS OBSERVED BY ME, THE TARGET IN A FEW DAYS SHALL BE 557. MAY BE THE OUTCOME OF FUND RAISING PLANS OF VODA WILL TRIGGER?
DIFFERENT PATTERNS HAVE EMERGED AND TARGET SEEMS TO BE A POSSIBILITY, IF THE RESISTANCE IS OVERCOME.
MAY BE THE MARKET WAS WAITING FOR THE NEWS!
WITH THE CURRENT FANCY FOR ADANI GROUP SHARES, THE TARGETS MIGHT BE EASILY ACHIEVED.
BUT, WHAT IS THE REASON?? TECHNICAL CHART SUGGESTS TO GO LONG.
ONE MAY RECOLLECT WHAT HAPPENED TO HDFC BANK SHARE PRICE WHEN MR PURI SOLD HIS SHARES. EXERCISE OF CAUTION IS ADVISED AS PRICE IS NEAR IMPORTANT RESISTANCE. HIGHER IT MAY UP TO 224, AS THE MD STILL HOLDS BALANCE SHARES.
AS POSTED IN MY AUG, 9TH, THE NIFTY IS MOVING TOWARDS THE TARGET 11750.
PLEASE BE CAUTIOUS, REASON MENTIONED IN THE CHART.
CHART SUGGESTS THAT THE PRICE WILL COME BACK TO 161, IN THE COMING DAYS.