About meBachelor of commerce by education, student by profession, financial analyst by passion, invester by interest. The charts i post here are for my practice and educational purpose.
Trendline breakout with a big bullish candle in GSPL along with good volumes and strong RSI that indicates stock's potential target of 380 in immediate short-term. Option buyers can track GSPL 330 CE of jan expiry at cmp 11.50 for 40+ levels. Stop at 7.
Trading rationale:
Focus on Chemical and Fertilizer stocks till budget,
UPL is best buy in agro chemical space,
Breakout from expanding channel on weekly time frame,
Bullish crossover on MACD & RSI is above 60 suggesting strong trend of the stock,
Option buyers can track 790 CE which is trading at 23.45 with a sl of 16 for targets of 32/40
Swing traders can...
Nifty broke the long term trendline on weekly chart in Nov, It has closed below the trendline 4 weeks in a row, Made a bearish engulfing in Monthly chart. These are all important and correct observations. But not yet enough to make the Conclusion. There is more to the game. At the height of COVID-19, in March 2020, the index (Nifty50) had gone from 11,500 to...
Nifty finds repeated support at 17200. Although, overall trend of da nifty is negative, a big short-covering towards 17500 cannot be ruled out. Major hurdle still exsists at 17500. And hence tom u may get a gap up again and follow thru this time. Market is short, sentiment is rotten. Even if people want out, they need higher prices.
View: Nifty is looking...
The last time Fed tapered was December 2013 and the stock market had a quick correction then went on to make new highs. I don’t see why this time should be any different. (2013 chart below)
the Fed raises rates, the stock market tanks, hurting the economy. If the Fed doesn’t raise rates, inflation spikes, hurting the economy. So both the scenarios are possible....
