A very good intrady opportunity is seen in Ashokley.
Although it is near a major resistance level, I think it can move till 84-86 levels before making a pullback rally.
As mentioned in the chart stock is oversold in the 15 min time frame and it is taking very good support of the 50 days EMA historically.
So I am bullish on the Ashokley for monday. But as I...
Hindalco is near the support zone. It has trend line support as well as 50 EMA support.
Stochastic RSI is also showing over sold levels.
By looking at the price action it seems like a minor pull back from recent high and the uptrend is still intact. Fibonacci is also showing 23.6% retracement from recent highs.
I am bullish on metals and Bullish on Hindalco as...
SBIN broke again 200 levels on friday. It is again and again hovering around 200 levels.
We can use trend lines, Support and resistance levels drawn on the chart to initiate intraday positions around those levels.
Ashokleyland broke a very significant structure after a very long time. It is near 200 days moving average also.
Watchout for Long opportunities.
If it manages to stay above 57 then one can initiate long position.
As mentioned in the chart DMART approaching a very important levels. 2180-2200 levels will be crucial for DMART.
If this opens below the level and fails to brk then one can look for shorting opportunities.
If this level is broken tomorrow and sustained then one can initiate long position both on intraday and positional basis.
446-447 levels seems very important levels.
Stock has broken this level, But tomorrow if it opens below the level then we can look for short opportunities.
However if not we can look for the long opportunities in Axisbank.
ICICI Bank is currently trading at an important level.
If tomorrow it opens above 365 then we can go long on this name as 365 will act as strong support for the stock.
However if it opens below 364 and fails to break 365 in first few mins, we can short this as 365 would be strong resistance.
As marked in the chart probable downtrend setup is forming in the DIVISLAB
After breaking the important structure, price retested the levels again.
Hourly chart also shows the clear down trend starting.
Further increase in the delivery volume and volume in general also suggests the big move coming.
Next 2 sessions will confirm it further.
After a huge fall from 763 levels in Feb to 284 bottom levels in March, Axis bank is probably heading upwards.
As marked in the chart initially 447 and 487 in later stage would be key levels to look for.
I'm bullish on Axis bank above 447 levels. 487 would be the first target to look for.
AshokLey is at a very important levels on the weekly chart as shown in the chart. Upward move is expected. But if the price breaks this 74 levels then further donmove is expected in the coming days. Both stochastic and RSI are in the oversold zone.
As shown in the chart above 1255-1245 seems to be very important Level. Look for reversal from this point and 1294 likely to be the target. But if the price action breaks this support and goes below the mentioned levels then look for the pull back to the above mentioned levels and short. 1190 seems to be the next support downwards.