Hi guys , HAPPY MAHASHIVRATRI
First of all let me tell you that most of you guys are long in nifty just because of the cup and handle pattern formed in nifty but its not a valid pattern you can confirm it on internet www.investopedia.com
Now let me come to my analysis
Its the monthly charts of nifty where you can see a strong...
As it can be seen that the stock has formed a bearish crab and then coming downward to achieve its target so traders can go short for the very first target of 462 - 460 ( 90% probability) and if it breaks below 460 on closing basis then our next target will be 425. And maintain a closing basis stop loss at 500.
As it can be seen that a exhaustion gap is formed in bank nifty with rising volumes which is a confirmation of exhaustion gap and also the confirmation of coming downfall. So now banknifty will first fill its gap by coming at 20200 and once if it breaks below these levels you can expect a major downfall. The main reason why I am expecting downfall is firstly...
As it can be seen on daily charts that after a sharp fall the stock has again taken support on the trendline with good volumes so traders can go long for the targets of 700- 720 with a stoploss of 660 on closing basis.
As it can be seen that sun pharma has formed a bullish bat on daily charts and a resistance tredline is also there at the level of around 680. So go long in it for the targets of 660 - 680 and maintain a closing basis stoploss of 620.
As it can be clearly seen on the charts that the stock has given the breakout of inverse head and shoulder
and even taking support on the trendline. So its a buy for the targets of 560 and maintain a stoploss at 500 on closing basis. if it crosses 560 then further upside can be seen but for the current scenario go for 560 only .
As it can be clearly seen on the charts that this stock is showing divergence. Prices are making lower lows and indicators like MACD, RSI is making higher high which is a clear sign of divergence. Even the stock has given the breakout from BASIS ( middle line of bollinger band ) . So definitely its a buy on current levels for the targets of 925 with a stoploss of 800.
As it can be seen that arvind has formed a descending triangle on daily and hourly charts and also given the breakout on the upper side with high volumes, So its a buy for the targets of 365-370 and maintain a closing basis stoploss at 335.
As it can be seen that previously also nifty formed a small head and shoulder and given a fake rally then afterwards it came down and same move is expected in this big head and shoulder. So traders can go long in it for the for the targets of 8150 - 8200 but be cautions and maintain a strict stoploss of 7900. Overall it will come down after testing the targets...
Long buildup can be see in icici bank on daily charts. as you can see the bullish pattern formations on the charts so its a BUY with a target of 280 and a strict stoploss should be maintained at 245 on closing basis. because its seen that most of times it just gives shadow at the bottom levels .