UnknownUnicorn4260559

UnknownUnicorn4260559 Updated 

We have started counting the major bull run after the sub prime mortgage crisis. First major bottom was posted in Oct 08 and rally continued till Nov 2010. On the completion of subsequent fibonacci time series,index corrected twice in the next month or in 2nd month. Index first posted new high in next or 2nd month of completion of fibonacci time zone and then...

UnknownUnicorn4260559

Nifty has formed Rising Wedge pattern on Daily chart and breakout has already taken place. We normally use 10,20,50 or 13,26,55 EMA combination to analyst any asset class. We just changed our analysis this time to understand whether market is able to uphold EMA of Low's made during uptrend. Logic of using EMA of low is to understand the strength of market to move...

UnknownUnicorn4260559

Apple has formed shooting star on daily chart which has emerged after a considerable bull run. Stochastic is showing negative divergence. Shooting star has been formed after a big green candle which makes it more reliable. Sellers have emerged above psychological barrier of 200. Going forward 203 would be the resistance and counter can drift towards 194-190-185 level.

UnknownUnicorn4260559

Weekly chart is showing reversal on nomral chart as the price has broken out of falling trend line with volume and moving average cross over (13 EMA crossed 26 EMA to upside). Log scale is showing that price has still not broken out of falling trendline and counter has reversed from the resistance line. 834 stand as a major resistance which must be observed to...

UnknownUnicorn4260559

Nifty has been trading in wedge formed on monthly log chart from last 3 years. We saw buying emerge at the lower end of wedge which was 10000-10300 zone.We again saw index taking support at 10800 and moving towards new high. Index should move higher till the time 10800-10565 zone is intact in Nifty. Log chart suggests 12800-13000 level in next couple of months....

UnknownUnicorn4260559

EUR is trading in bearish trend from last couple of weeks. Weekly RSI has completely diverged from the downward price move. Pair is trading near 61.8% retracement of 1.2565 to 1.03 which comes at 1.1175. Pair can bounced from Golden ration citing positive divergence on RSI. Fresh short bet should be made only on close below 1.11. Buy can be initiated at current...

UnknownUnicorn4260559

Bharti has come out of multi week consolidation range of 280-340.It has also close above 23.6% retracement of the entire fall from 600-280 level. Stock is looking good for 385-400 level which is 38.2% and earlier resistance of upmove. Positive news from industry that pricing is likely to stabilise in near future has given momentum to the stock. Trader can buy...

UnknownUnicorn4260559

PNB has been observing 60-80 zone as long term support zone since 2007. We've seen buying emerge in this range and then counter giving 100-300% kind of return 12-18 months time. 5 month SMA has crossed above 8 month SMA which signifies that bottom has already been formed at 60 level. Earlier incidence of crossover of 5 MSMA over 8 MSMA has resulted in big fall or...

UnknownUnicorn4260559

Gold has turned positive on stochastic. Trader can buy at cmp $ 1300 with stop loss of $ 1290.

UnknownUnicorn4260559

Buy BEL above 95.50 with stop loss below 93 for target 99-103. Half hourly stochastic has turnover above signal line. It has taken support on very short term trend line.Once it crosses falling trendline, then we can expect upside move.

UnknownUnicorn4260559

BHEL has bounced from the long term support of 58-60 range. We saw 100% + return when it touched the same level last time. It has also bounced this time with moving average crossover on all time frames. It has also broken out of long term resistance line. Long term traders can accumulate below 70 with stop loss of 58 for 100% return in 12-18 months time....

UnknownUnicorn4260559

Nifty has been adhering to divergence formed in daily Stochastic from last couple of years. Negative divergence has emerged on stochastic on daily chart. Index witnessed correction from 11760 to 11552. We might see sideways to bearish move till the time high is not taken out on daily closing basis. Index is trading in upward moving channel. We would suggest to...

UnknownUnicorn4260559 Updated 

M&M has been seen bouncing every time when Stochastic turns into deep oversold territory. We should likely to see this thing happening around 611-612 level with stop loss of 585 (daily closing) for Target 665-680 on higher side. Tendency of mean reversion has been strong in terms of probability considering history of the pattern. We might hear fundamental reason...

UnknownUnicorn4260559 Updated 

SBI has always shown tendency of reversal towards 10/20 days mean when Stochastic was in oversold condition. This time is also no exception and we might see recovery from the trend line support of 255-256 towards 278-285 level. Stop loss would be placed below 249 which is 50% retracement level of run from 148 to 350. This run would be a temporary bounce back and...

UnknownUnicorn4260559

What a clear cut negative divergence is being reflected on 15,30,45 and 60 minutes RSI (14). Profit booking is likely and it should be steep to make you doubt on the strength of rally. 11170 should be the level to see in coming 8-10 sessions. Premium of 11300 and 11400 put is too low which suggests market has completely written off downside possibility

UnknownUnicorn4260559

Nifty has touched upper resistance line of perfect parallel channel.RSI is showing negative divergence on 15,30,45 and 60 minutes chart. 11500-11510 is the minor support below which should could be initiated with stop loss of 11535. 1st support is 11450 and below that it is open for 11170 in coming days. Buying must be completely avoided at this moment.

UnknownUnicorn4260559

Nifty is looking short as MACD has turned below zero line. Moving averages are above candlestick. Long term support line could be tested before the next upmove. 10900 & 11000 call can be sold keeping 10840 as stop loss for position. Target would be 10540- 10410-10340. 10700-10750 would be the resistance zone to create position. People may play for H&S and might...

UnknownUnicorn4260559

Cup and Handle formation is clearly visible on weekly and daily chart. Daily chart is on breakout and today's close above 123 will confirm it. Buying cab be done around 122-123 level with stop loss below 110 (closing) for target 135 -150 - 180. Global shortage in sugar could be the reason for move in sugar stocks but shortage is majorly contributed by Indian...