Buy Bosch Ltd below 14900 stop loss 14200 (hourly closing) target 16300-16600
It is trading in perfect downward sloping parallel channel. 26 week RSI has shown upside cross over. Daily RSI and MACD are showing positive momentum to continue for some more time. Logg scale resistance of falling trend line is at 16200-16400.
We are bullish only for very short term...
Nifty has closed above multiple resistance of 11700-11720 which will now act as a support and can be used to initiate buy position (can buy call) with stop loss below 11550 (hourly closing) for target of 12060 (161.8% retracement of recent minor correction)-12110 (previous top). Schiff pitchfork's resistance has been broken twice and now index is trading above it...
BHEL has started trading around 1998-99 and then found multiple resistance at 40-46 zone. Green trendline ( weaker one as only 2 supports has formed within 1 year time) also show support at 40-42 level. Weight of evidence is still not suggesting any buying at this moment but short term bounce can't be ruled from this important zone.
Tata motor has already achieved target of double top (55% below 265 level). Now we are seeing bullish divergence on weekly RSI which is diverging from price. Counter had respected falling trendline (green) at 140 level on logarithmic scale chart . Arithmetic had given upside breakout and now prices are taking support on the same trendline when counter bounced with...
As told in our last post to look for 10800-10850 in coming 30 sessions, we already saw it on Friday when Nifty posted low of 10848.85
What's next ?
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Whatever we publish is for educational purpose. Taking decision to trade based on our view is solely at your discretion. We just publish material to make...
Reliance Ind is having support at 1186-1190 zone. If counter touches this level and bounces back abv 1205 then it can be bought with stop loss of low for target 1240-1260.
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Global and Indian economy are in doldrums. US economic data have improved but GDP growth in Q2 is expected to fall in between 1.3-1
8% on annualised basis from 1st qtr growth rate of 3.3%. Core capital goods and jobless claims reading for June have improved.Trade deficit has narrowed on account of fall in both import and export. FED is expected to reduce rate by...
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.