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#Reliance weekly chart looks horrible. It has formed #BearishBeltHold and #BearishEngulphing patterns on weekly scale. Now its trading near 50 DEMA. Below 1495 it will crack another 100 points. #Warning

TradersVenue Updated 

As per my setup, TechM looks good to short for a target of 740 positionally. SL 800 on closing basis.

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#BankNifty forms H&S on daily scale whose aggressive copy book target comes near 28500. However don't expect it to happen overnight. Roller coaster ride is expected during the journey. RSI and other indicators indicate weakness. From 32200 we have been bearish on BankNifty and multiple bearish views has been shared

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#AxisBank post results view. Possibly it will head back towards 640 in sometime if 700 is broken decisively. Avoid bottom fishing.

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#ICICIBank daily chart looks horribly bad. Having seen #AxisBank results time to reenter the short on rise. Avoid bottom fishing.

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#BharatForge below 500 can go for a 200 DEMA retest and BO retest around 465-470 levels.

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#HDFC looks good for a #SellOnRise with a target of 2378/2357/2285/2264 in near to short term. Had multiple short views from 2484 odd levels. SL is wide and comes around 2475 DCB. Would like to play with February futures positionally.

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#MCDOWELL_N had a #VolexP with breakout one day before. Its trading near its 200 DEMA. Stock looking good to add positionally.

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#ITC has made bullish #TristarPattern near its demand zone. 234-240 is a multi month support and stock is bouncing from there. Looks good to add it to portfolio at current valuations. People buying higher quantities can go for hedging.

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#Marico buy BTST. TrendMeter turned green. And there was #Volexp in 75M TF. Looks good to add it positionally too.

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#Britannia is about to complete 78.6% retracement of its recent bull run which coincides near its 200 DEMA . One can expect a possible bounce from 2950-2960 zone. I would like to go long near the aforesaid levels with protection. Would add more near 2835/2619 levels. However stock is looking structurally weak. Risk averse traders may wait for a pullback or...

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#EICHERMOTOR looking good for long. Will consider buying if it trades higher on next session with a #SL of 20500 DCB.

TradersVenue Updated 

#ZEEL looking good for long as per my trading setup. Will consider buying if it trades higher on next session with a #SL of 270 DCB.

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#Biocon looking good for long as per my trading setup. Will consider buying if it trades higher on next session with a #SL of 275 DCB.

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#BajajAuto likely to go down if it trades below 3100. Would go short below 3100 with a SL of 3190 on DCB for a target of 3000/2854 positionally.

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#Hindalco looks good to short below 208 for a target of 204.25/201 positionally with a #SL of 212 DCB.

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#AxisBank looks good to short below 735 for a target of 715/700 positionally with a #SL of 760 DCB.

TradersVenue Updated 

#AuroPharma - getting ready for a bull run after being butchered for a year. Both weekly and daily chart looks good for a short to medium term investment. Trading above short and medium term averages. RSI has gone above 60. #Investment #Portfolio #Positional #Long