Nifty showed some reversal as we analyzed and posted on twitter. However, for any kind of upmove it needs to close above 11140-150. It is forming bearish flag, if it breaks this flag downside below 10940-60 then it may reach 10600-10300 very quickly. Upside target on 10140-150 break out is 11600-700 minimum. Gann Date is on 18th August. So big move is round the corner.
NIFTY is trading in a range of 10830 to 10960. Unable to give weekly close out of this range. A Simple fibonacci concept can interpreted that until and unless it doesnt break 12098 ie (13% of previous swing), it will be treated as fake breakout. Hence short entry can be taken if it breaks below 10850. Long entry can be initiated if it breaks above 12098. Short...
Axis Bank has almost completed our target of 830 from 500 levels (refer below published idea). Now the target can be moved further to 940. This seems more to be favoured, however safe traders can confirm the entry only on closure above 830 or trading abvoe 830 for atleast an hour. It is right now trading in a range and expected to breakout from it.
Nifty formed HnS pattern on hourly timeframe. We have not published it but have been active on twitter about the moves. If it breaks this zone, 11320-340 to come sooner. Which seems likely. However, short only below the zone.
Reliance forming Cup and Handle Pattern. On Breakout it can give more 100 Points upmove. However there's trendline resistance as well which will work in tandem with SR. Anyhow 1312-1320 going to critical zone for Reliance. Both trades can be initiated around this level with minimum SL.
IBULHSGFIN is following sinusoidal pattern off late and playing within the range. Last week it broke the support. and some how closed above it. One more good resistance level is around 660. If it closes above it then there will be very good upmove till 730. One can go long onto it with SL below 630 on closing basis. Once it closes below 630, there will be huge...
Historically Voltas has seen upmove during last week of February, right now its into consolidation phase and can be bought with SL below 500, target can be upto 700 if history repeats itself. bearish only below 500.
We had posted earlier chart and went short at $55 on retest of flag for targets of $49.5 and $43. Refer below chart from history
Now One can go long into it with SL below $40. You can take entry at $41.8-42.5. On close below $41, next long chance would be at $36. Dont miss this long trade if opportunity arises.
CENTURYTEX has completed minimum target of double bottom. Now it may again go and retest the neckline. One can short it between 915-920 with SL above 930. Yesterday's candle is not engulfing candle as there is 5 paise difference between yesterday's close and today's open.