Nifty has formed H&S on daily chart. After the breakout , index has again come to touch Neckline. Daily close abv 11750 would negate the view. We had drawn 2 support lines as we were cluelesss that from which line index will take support. It has taken support from the steeper trend line. Let's see what happen in coming days.
11735 is BB mid line...
Sell CESC on rise at 790 & 798 SL 86 TGT 770-750.
Negative divergence on RSI chart with today's candle closing making Doji candle with long wick on upside is confirming the bearish bias. Volume on today's candle is very high. 806-811 is supply zone which is portrayed through pink line.
MOIL is trading in parallel channel. Breakout will be above 160 but we'll wait for daily close above 165 to confirm reversal and formation of higher top. Above 165 target would be 200 with SL below 150 .
RSI and CCI is confirming direction of the trend.
Tata Power looks bullish 69 (daily con close above 75. Volume in upmove is good after posting double bottom. Above 75 next 1st target would be 85 with sl below 68 (closing)
RSI and CCI are showing positive moementum
BUY LAURUS LABS AT CMP 347.50 SL 336 TGT 370.
HORIZONTAL ORANGE LINE SHOWS SUPPORT AND DOUBLE BOTTOM. TODAY'S CLOSE ABOVE NECKLINE OF HEAD & SHOULDER SUPPORTED BY RSI & CCI CROSSOVER AND VOLUME IS GIVING SUPPORT TO OUR VIEW. RALLY CAN EXTEND TILL 400 PROVIDED 328 IS HOLD ON CLOSING BASIS.
Buy Take Solution at 124-123 sl 117.80 TGT 133 -137-156
Counter has made bottom near previous low of 117.95 and then saw buying volume . Scrip was making inside days after posting a green candle. After 5 inside days counter witnessed volume activity and close 2nd last inside candle's high. RSI & CCI has given positive cross over. Range of 117-158 should continue...
EID Parry has bounced back from the long term support line. Weekly volume and candle is positive supported by RSI & CCI crossover. Daily RSI & CCI are in positive zone. 147 is the major support and 205 is the major resistance. Trader can trade the zone till the time stock is in range.
Value buyers with risk appetite can buy in dip at 175 with stop loss below 140...
RUPA & CO. is showing positive crossover on daily RSI & CCI, Friday's volume was too high but counter couldn't sustain at higher level. When you go on weekly chart you will find that counter has reversed twice from the support zone of 225-230 (pink line). This time we saw huge volume on weekly basis. In addition to this, weekly candle's body has almost covered...
It's just a gut feel without any technical backing. If today Nifty make bottom around 11785-11790 and then gives positive close by 20-30 points, then we expect Nifty to hold that bottom till Budget and start up move to post fresh highs. Technically, we need close above 11900 for upmove towards 12100.
Buy at 401.50 SL 394 TGT 410-415--424-432-438
Reason : last 1 hours volume suggests BTST kind of position built up by traders. Close abv 400 is extremely good for counter. It could be a trend reversal signal if we see on monthly closing basis.