UnknownUnicorn4260559

UnknownUnicorn4260559

Bank Nifty is showing negative divergence on weekly RSI. Market is trading in near upper range of long term resistance line on weekly log scale chart.

UnknownUnicorn4260559

Weekly Negative Divergence continues on RSI. Index is still in ascending channel on closing and high-low basis. Note : We have short position in Nifty

UnknownUnicorn4260559

Buy Tata Power in dip at 69.60-68.50 with stop loss below 66.70 for target of 74. Momentum is supported by high volumes. Upside is capped at 75-76 till the time resistance line poses challenge for bulls.

UnknownUnicorn4260559

Keep eye on level of 18000-17500 which is likely to hit. Reversal is only on close above 23500. Wait for reversal signal on RSI. 17200-17500 should provide major support for short bounce.

UnknownUnicorn4260559

Buy Manapurram Finance in dip at 136 and 132 with stop loss below 125 for target 155-168. It has closed above life time high with huge volumes . MACD is positive with short term is well above mid term average. 126-128 is major support zone. Moving averages are also showing bullish momentum in short term.

UnknownUnicorn4260559 Updated 

Gold is forming bullish flag pattern on chart. Volume was very high on poll and then dropped substantially in falling channel. Buying is advised only above $ 1286 with stop loss below $ 1282 for target $1295 -1298. CMP $1284

UnknownUnicorn4260559 Updated 

Wipro has formed bearish H&S on 30 and 60 minutes chart. Breakout has already taken place. Short moving averages has crossed over to the down side. Volume on breakout is quite high. We'll sell below 280 (ensuring lower top lower bottom) with stop loss above 289 for target of 271 & 260

UnknownUnicorn4260559

Those who have not read our first report on IBREALEST, please read report appended below. It is evident from the chart that bullish flag pattern had been formed and breakout has already taken place. If you count volume , then red arrows are showing volume of pole and breakout which is quite high and gives strength to our idea of flag pattern. MACD is showing short...

UnknownUnicorn4260559

Those who have not read our report published on 9th April, please go through report appended below. We had told to buy Bhel below 70 with stop loss below 58 for target of 100% return. Counter first touched 70, then moved to 79 and then touched 59 last couple of days back. Logic was to buy position below 60 ( multiple support zone as shown by arrow) but it had...

UnknownUnicorn4260559 Updated 

Bajaj Auto has given first indication of bull run when it closed above 2900 on weekly basis which started higher top higher bottom series. Counter has corrected after touching high of 3050. 38.2% retracement of entire rally from 2450 -3050 comes at 2825. 2810-2825 zone should provide support for next bull run. Stochastic has entered into oversold zone but yet to...

UnknownUnicorn4260559

We had posted our bullish view on Bajaj Auto on 2nd April 2019 (report is appended below). Buying was advised in 2825-2810 range which couldn't initiate. Stock posted bottom 2831 on 3rd April (green arrow) and then started upward journey in zig zag style. On 23rd May, it tested high of 3145 and then saw correction. We'll remain bullish on counter till the time it...

UnknownUnicorn4260559

BEL has come out of multi week consolidation pattern. Volume on weekly breakout is high. BEL is all set for 124 level with stop loss below 101. Buy around at 109-106 range. Note : We have already bought BEL in our portfolio.

UnknownUnicorn4260559 Updated 

Nifty is showing negative divergence on hourly RSI. Market has already corrected after divergence. 1168-11710 looks resistance zone where short can be built up with stop loss above 11780 for target 11455 ( 161.8% retracement) . If Nifty doesn't go up and breaks 11595 on the down side then short can be created with stop loss above 11680 for target 11455. We expect...

UnknownUnicorn4260559 Updated 

As posted 3 days back on emergence of Rising Wedge pattern in Bank Nifty on weekly chart, Index found resistance on upper trend line at 31705. We had told that risk is overshadowing returns at this juncture and index could find resistance in the zone of 31400-31600. Today Index fell by more than 1300 points from the top which confirms the Rising wedge pattern....

UnknownUnicorn4260559 Updated 

CNX Mid cap Index is consolidating in 18500-16000 range. Falling trendline should provide resistance at the upper level. H&S pattern is clearly visible on daily and weekly chart which is also supported by death cross (50 DEMA below 200 DEMA). Target of H&S is 13300 but we can see visible support at 13600 (arrow). ADX is showing mixed trend for market as both +DI...

UnknownUnicorn4260559

explained on chart

UnknownUnicorn4260559

Nifty daily chart is giving picture of range bound movement in the upward sloping channel. Nifty has posted high of 12041 close to the resistance line of channel. The pattern which has emerged on candlestick looks little bit scary for the downtrend. It would have been a three inside down candle pattern if the 1st candle on 21st May was a white bullish candle....

UnknownUnicorn4260559 Updated 

Finally, exit polls have given some hope of stable government but considering past track record of +/- 10-15% deviation in numbers, risk to financial market has already been built up. BJP with 285+ seats and NDA with +310 seats are good for market but that should not last long as real concerns on economic slowdown will come into play. Will poll numbers behave...