Niftybank has crossed all its resistance and has become very bullish. 23000-23400-23600 soon it seems. The option chain also saw unwinding of call at 23000 by 3% and increase in 23500 call by 25%. The puts have also seen increase at 22500 levels by 75% and at 23000 by 16.4%. The point of max pane is 23000. the RSI is also in a good zone.Lets see how everything turns up.
gail has been running in a chanel since long and is facing a strong resistance at 106-107. keep an eye it can go upto Rs 107 and reverse or if it breaks this trendlyne we can see 112-114 soon. keep itin your watchlist.
Cyient after a good result and a tech uprise week formed a shooting star candle and it seems to show downfall to 260-270 if the following pattern is respected. lets see how it moves in the coming days. the RSI is also in a overbought zone on daily chart.
BASDAQ is at a critical point. Its facing strong resistance at 11000-11050. If that is crossed it will show a good break out. If it doesnot work in that way we might se Basdaq falling back to 7000 in the form of arc. And this will guide all the markets worldwide. Lets see how it works.
After a good consolidation Morherson sumi is going to break. Keep an eye. The bearish candles are weak lets see how it ppens on monday. If goes below 95 with good volume will give a good breakdown. If it goes up 103-104 is the resistence and 110-120 can be the possible breakdown targets.
Bank nift is trying to form an head and shoulder. Right shoulder to be formed yet. It is also forming a rising wedge along with RSI in overbought zone. I am feeling strong to short in BNF in coming week. 23000-23100 for the levls to form right shouder on monday-tuesday. Then again 22800-22900. And then a 1000 points breakdown might be possible. Keep an eye.
SBI finally gave the required breakout and crossed 200 but couldnot maintain for long. The stock on weekly chart has formed a very good inward head and shoulder with RSI at good levels which is a clear indication to go long. Check the overall market sentiments and go long if price move upwards.
Bhel has show really good price action in few days. The support is at ₹40-40.5. If this price is broken the share will go down to ₹31-34. In case it takes support at ₹40-41 the target prove will be ₹45-47. A small stock that can give good return on both side as per the market situation. Volume will play a big role.
SBI is trading in critcal zone. It is facing strong resistance and high RSI at 196-197.5. Keep an eye. I am hopping that SBI will come down to 188-189 and again try to touch 197 but if it falls below 188 then the price will come down to 185-186 depending upon Bank nifty since SBI is a high beta share. If prices go below 185 the mn a break down can be seen. The...
HUL has been trading in a range for a few days. The Price action today was very good but the volume was less. Keep an eye on HUL. If HUL tommorow touches 2223 with a good volume and reasonable RSI (60-65) then 2300 is feasible but seems a bit unlikely as 2200 has been a strong resistance for HUL.If it does not give a breakout 2140-2160 levels are the target. So...
Bank nifty is moving in a channel after the breakdown. Now as per current scenario it is in a mix level depending upon the sentiments of people. Bank nifty might show a breaout as it crossed the median line of bollinger band which make it bullish. The RSI is also at a good level showing no sign of weakness. But if BNF continues to move in channel then it should...
Bank nifty is moving in a range after correction. 22350-22400 strong resistance and 18000-18500 is the expected level by august end if bank nifty moves in the current range. We might see a 23000 level in july but it wont sustain in my opinion. Lets see how it turn around.
Trade at your own risk.