Tradevenger

Tradevenger Updated 

Nifty IT index showing a bullish crossover of 20DMA in Daily charts. Nasdaq and Nifty IT should not have any correlation as US Big Tech have 60% of their income from overseas so strong USD hurts their topline and margins. Nifty IT companies have income in USD so strong USD supports margins and topline both. Trend will strengthen Top stocks: Infosys and HCL Tech....

Tradevenger Updated 

Alembic Pharma is seeing bullish divergences and a hammer at bottom of trend. Long Trade ONLY at close above 606 to confirm hammer pattern reversal Targets 667, 740

Tradevenger Updated 

HDFC Bank formed a double top formation on the 15 min charts. Potential for downside on high volumes

Tradevenger Updated 

Bajaj Finance formed divergences on daily charts and beginning of a H&S pattern. Looks like heading back to 6500 levels over next few weeks

Tradevenger Updated 

ICICI Bank formed a powerful gravestone doji chart pattern at close today 15th September 2022. Also showing divergences in RSI/MACD Need to be confirmed with a tomorrow close below 917.5. Targets: 910, 905, 901

Tradevenger

Bank Nifty showing divergences between RSI and Price movement. A short position can be initiated Downside targets T1 39250 T2 38750 T3 38500 Daily closing above 40075 invalidates the trade

Tradevenger

I looked at #Nifty over decadal period over boom and bust cycles. In the past, downward expansion cycles have reverted the Nifty back to starting point of a rally before the next stage begins. Nifty at 12000 before the selling stops

Tradevenger

Nifty has formed a medium term top at 18084. Gap fill AND Fib retracement just above 0.786 level beautifully placed at 16346 level. We are likely to see this level in coming days