If 15 min candle closes abv 21770 then likley targets are 22060-22000 with reversal below 21530
Sell USDJPY at 107.288-107.308 stop loss 107.37 target 107.04
Buy USDCHF on a daily close above 0.94702 with stop loss below 0.94376 for target 0.95534 and 0.95886
MOFSL looks short fo 480-475 . Any rise towards 515-520 can be used to short with stop above 535
EID Parry looks buy around 134-136 with sl of 124 for TGT of 165-170
Nifty is likely to open lower which is clear from opening session but pitchfork was already indicating levels of 8350-8280 on chart. 8260-8270 will have to be observed. If it breaks then market is likely to head lowers otherwise we will see rebound from this zone for 9300-9700 levels.
2 strong buying candles have emerged with volume which is supported by crossover of 125 EMA on 15 min chart. Mid line of schiff pitch fork is now acting as resistance. Once it takes out center line on 15 min closing basis then expect upmove to continue. Can buy with SL below 235
Distribution in clearly visible on chart. Bearish engulfing, long wicks near 1500-1600 zone is telling that supply is clearly there in counter. Sell IPCA Lab with stop loss of 1400 on daily closing basis for Target 1150-1050-850
Bajaj Finance is having support around 2200- 2150 zone where counter had observed demand or short covering pressure. It also matches with central line of pitchfork. If it observes this zone and makes a fractal candle on 5 & 15 min chart then can be bought with SL below 2075 for 15-20% upmove
Will Banknifty also go for times wise corrective rally of the fall ? If yes , then 8-16th April is the likely date range where Banknifty can top out. Will it happen at 38.2% or 50% ?
Weekly RSI has first time dropped below 30 since 2008 crisis which is clearly signal of bear market. Nifty had corrected more than 65 % of the value during subprime mortgage crisis. This is certainly a bear market considering reading of RSI. We have corrected 40% and now saw some kind of recovery. Normally 20-35% recovery is seen in price during bear market rally....