ashwinjain1

ashwinjain1 Updated 

- Since early November, Banknifty futures have been steadily rising even as volumes keep dropping on a daily basis. - RSI has been in overbought zone since end of November. - Price has made a higher high but MACD has diverged making a lower high. All these point to a steep correction in the coming weeks, imo.

ashwinjain1

Nifty has tested the bottom trend line (support zone) multiple times and has bounced back strongly. It is highly likely to continue its up move and hit 17,800-18,000 in the next 40-60 days.

ashwinjain1 Updated 

NSE:BankNifty seems to be poised to break out of an upward-sloping right-angled triangle today (April 30th, 2020). An attempt was made on April 29th but was rejected in the second half of the session. Need to confirm if the breakout today sustains on a closing basis. If so, this could be a good opportunity to go long.

ashwinjain1 Updated 

Reliance Industries (NSE:RELIANCE) seems to be breaking out of a bullish cup & handle pattern. Can be bought on retest of the neckline at 1230 levels for an initial target of 1325.