SwingBytes

SwingBytes Updated 

Nifty Midcap Select index made high on 16th Sep 2024 and then declined about 10% over the following 8 weeks. Uncharacteristic of pullbacks in the current bull run that started from Apr'2023, this decline was longer, printed 3 wide range weekly RED candles and also sustained below 100 day EMA or 20 Week EMA. The subsequent rally from mid-nov to mid-dec, though...

SwingBytes Updated 

GICRE broke out and made ATH with huge volume on 20-Dec-2024. Since then, it retraced with lower volumes and touched 20 DEMA and the BO Zone as well. Today (7-Jan-2025), showed signs of consolidation end with a bullish candle OPEN=LOW, relatively wider body and higher volumes.

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NTPC made a 7 week, 20% down move in Oct and Nov 2024 and then was consolidating for 3 weeks around its 200 day moving average. This week (16th Dec 2024) it broke away from the small consolidation cluster and is continuing down move. Bearish momentum and poor relative strength aligns with bearish down move to next support zone 305 to 315. This zone has...

SwingBytes Updated 

Tata Motors has been down trending in Sep and Oct 2024. Since Nov, it was on a pullback which clearly ended with today's (18th Dec) breakdown. Expecting downward target of 665.

SwingBytes Updated 

NMDC broke down from the consolidation cluster around 200 DEMA and also 6 month support zone at election results day low (4th June). Extremely bearish daily momentum, relative strength deterioration and sectoral weakness are additional supporting factors for a short trade towards Fib support at 57.83.

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Realty is in a 6 month pullback since July'2024 and is cooling off overbought momentum levels. Below factors suggest that there is some more pullback/consolidation to go before REALTY could reverse and continue bull run to ATH. 1) While monthly RSI has come down from 88 to 72 levels, some more cool off is required to reach 50 to 60 levels. 2) 20 Monthly...

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Past patterns on NIFTY's number-of-months of bull runs followed by number-of-months of corrections indicate, we may be in the first leg of a corrective phase thats likely to last for good part of 2025. Monthly momentum indicators and higher (20 to 30) monthly moving average patterns also aligns with this projection. Nifty probably could churn its way to the...

SwingBytes

Past patterns on NIFTY's number-of-months of bull runs followed by number-of-months of corrections indicate, we may be in the first leg of a corrective phase thats likely to last for good part of 2025. Monthly momentum indicators and higher (20 to 30) monthly moving average patterns also aligns with this projection. Nifty probably could churn its way to the...