UnknownUnicorn4260559

UnknownUnicorn4260559 Updated 

Bank Nifty has formed Dark Cloud Cover candlestick pattern on daily chart which is bearish reversal signal. If we see weekly log scale chart, we find rising wedge pattern formed over a period of 12 years. Significance of the pattern can be gauged from the 3 reversal happened in the same zone in last 3-4 months. 31300-31600 is the upper range of rising wedge at...

UnknownUnicorn4260559 Updated 

Bank Nifty has formed Dark Cloud Cover candlestick pattern on daily chart which is bearish reversal signal. If we see weekly log scale chart, we find rising wedge pattern formed over a period of 12 years. Significance of the pattern can be gauged from the 3 reversal happened in the same zone in last 3-4 months. 31300-31600 is the upper range of rising wedge at...

UnknownUnicorn4260559 Updated 

Oriental Bank is trading at the lower end of upward moving channel.Daily and hourly RSI are showing positive divergence. Also, counter is trading close to 50% retracement of entire rally from 58 to 119 which is 88.40. Risk : Reward ratio looks favorable plus indicators are suggesting probability of reversal from current level. In fact, the most positive is the...

UnknownUnicorn4260559 Updated 

Nifty moved up by more than 400 points in a single day after #2019ExitPoll. Upward thrust was so strong that 45 out of 50 stocks of Nifty closed above previous day close. Today market opened above yesterday's close and day high by significant margin but couldn't sustain it and closed near today's low. Dark cloud cover pattern has emerged on daily chart which is a...

UnknownUnicorn4260559

Explained on chart. There is no such history of events which can be used to predict future trend. Normally, mid cap stocks in the last leg of bull run. Here, we are seeing contradictory picture. Bull run doesn't look broad based as only few of the stocks have contributed in rally which is not a good signal. Also if we see mid cap performance since the high of 2008...

UnknownUnicorn4260559 Updated 

As you can see from the chart, Maruti has been nouning from 6400-6500 rage and then reaches minimum to 7320-7350 range. It has already happened 3 times. On hourly chart, 20 EMA crosses over 50 EMA (pink arrow) and then we see a steep rally ( in all 3 instances). Volumes have been good in all past rallies and current rally. MACD is showing overbought but that was...

UnknownUnicorn4260559 Updated 

Reliance Capital is trading close to log scale trendline support of 90. Trader can wait and see whether counter take support of 90 and then bounce. If it rebounds after touching 90 and gives close above 100 then investor can buy with stop loss below 87 for target of 140-170-200 level.

UnknownUnicorn4260559

USDINR is consolidating in downward moving channel which is clearly seen on chart. Death cross (50 DEMA below 200 DEMA) point was crossed by pair but didn't sustain above it. Market will look for pair to close below 69.10 for start of downward move towards bottom of channel. Trader should hold short till the time pair is trading in channel or death cross doesn't...

UnknownUnicorn4260559 Updated 

India bulls real estate is emulating Wyckoff theory pattern on daily chart. Volume on the buying side have been high throughout the pattern. Scirp has come out of multi month consolidation with huge volume. On the lower side level of 80 needs to be hold on closing basis to maintain momentum as per theory. Supports are at 95-88. It can be a multi bagger.

UnknownUnicorn4260559 Updated 

Indusind Bank has broken out of long term trend line support plus given close below important support of 1430. Volumes have been on higher side in selling. 1333 is the immediate support which needs to be hold on closing basis. If counter closes below 1333 ( keep 1% margin) on daily and weekly basis then it will confirm lower top lower bottom structure. In past...

UnknownUnicorn4260559 Updated 

CNX Auto has broken out of long term trendline support followed by lower top lower bottom structure. However, daily and weekly RSI is showing 1-2-3 type positive divergence which means short trap can come into play in short term which may take it to 8200-8400 on the higher side. 7640 is the support on lower side. Overall, it is poised for 6700-6800 till the time...

UnknownUnicorn4260559 Updated 

ONGC has given breakout from falling trendline with huge volume. Also it is trading above 10 & 20 WEMA which is in positive mode (crossover). It is also trading above 50 WEMA. On upside 184-185 is major resistance zone which is close to falling long term resistance line. RSI is showing that still some upward heat is left in counter. One can buy ONGC in between...

UnknownUnicorn4260559 Updated 

Rpower is showing positive divergence on daily chart. If it is a parallel channel, then stock should move up towards 8.30- 8.70 zone. Trader can buy at 5.60-5.80 with stop loss below 4.20 for target of 8.70. It it gives close above 9, then one can expect rally towards 13. Note : We have buy position in RPower.

UnknownUnicorn4260559 Updated 

Ibull Hsg Fin has created 1-2-3 type positive divergence on daily RSI which was followed by sharp run. It is standing at resistance level of 715 (23.6%) retracement and multiple resistance zone of 710. Buy above 716 with stop loss below 700 for target 756 (38.2%) retracement and 766.

UnknownUnicorn4260559 Updated 

Buy Hero Honda at cmp 2501 stop loss 2450 TGT 1 - 2590 , TGT 2 - 2700

UnknownUnicorn4260559

As expected in our post on 7th May, CNXIT corrected below 15700. It has already broken trend line support on hourly chart. Index is expected to trade weak to sideways till the time it is trading below 16100. Incidentally, 16060 is 38.2% retracement support of entire correction which coincides with resistance line. Hourly close above 16100 will negate the downtrend...

UnknownUnicorn4260559 Updated 

Our view of fall in BankNifty has been correct through it has triggered stop loss of Ascending triangle breakout. We have been reiterating our bearish view on Nifty and BankNifty from past 1 month. Bank Nifty is showing positive divergence on hourly RSI which means price is diverging from the movement in RSI. This can't be construed as a position but yes sell...

UnknownUnicorn4260559 Updated 

SBI has seen a large buying volume when it went inside triangular breakout and scrip against closed above resistance of triangle line. Stock has bounced from 100 DEMA on daily chart and from major support level of 292. As long as 292 holds, scrip is expected to move up towards 325-328 zone. Buying can be done in dip at 308-309 with stop loss below 304 for target 320-325.