dhavnilmodi1998

dhavnilmodi1998

One of the multi-bagger from last year has been under constant selling pressure from FII and DII. Both institutional investors have sold around 6% stake in the Sept quarter. IEX FUNDAMENTAL ANALYSIS: 1. IEX is trading at a P/E of 64 which is almost 3 times compared to the industry PE of around 23 which indicates the share is a bit expensive. 2. IEX is a...

dhavnilmodi1998

Metal stocks are on a run as the CNX METAL index ended the week adding 4%. The same can be seen in JindalStel, it ended the week with around 3% gains. But the chart pattern indicates possibly something different. On the daily chart, it is possibly forming a bearish "Rising Wedge Pattern". Points to Note: 1. JindalStel is facing strong resistance around 421...

dhavnilmodi1998

Voltas concluded today's session with 2.27% gains but it failed to break the strong resistance (it has retraced about 4-5 times for there) around 1275.3 levels Points to note: 1. Voltas has strong resistance at 1275.3 levels. Strong support is present near 1158 levels. 2. Daily RSI is showing positive divergence against price indicating a further bullish...

dhavnilmodi1998

BHEL has given a breakout above its 200MA. A possible short term uptrend is possible if it breaks the downward trend line. POINTS TO NOTE: 1. A strong BULLISH engulfing candle has given a breakout above 200MA. This strong breakout may result in a bullish uptrend but still, we have to wait for confirmation. 2. BHEL is possibly forming a "double-bottom" pattern....

dhavnilmodi1998

After opening the gap up with a decent gain up, Nifty erased all its gains after facing resistance near 17900 levels. Despite volatility, Nifty managed to conclude Friday's session with decent gains. Nifty has formed an indecisive Doji candle which indicated directional less among Bulls and Bears. POINTS TO NOTE: 1. On Friday, Nifty took support near 17000...

dhavnilmodi1998

Tata Motors is one of my favourites NIFTY 50 stocks. Presently there are two possibilities for TATA MOTORS and both the possibilities are described below. Possibility 1 (Bullish Possibility): TATA MOTORS is possibly forming a "double bottom" pattern (which is a bullish pattern). The 498.6 level is acting as strong resistance and TATA MOTORS is not able to break...

dhavnilmodi1998

NIFTY has been on a bullish train for a while and today was no different. NIFTY gained around 1% today settled around 17,800 levels. There are so many things that I want to point out after today's impressive rally. Points to note 1. The most important point for NIFTY was to give a close above the 17,763 level. The level where it gave the breakdown of the "Head...

dhavnilmodi1998

BAJAJ FINSREV is making a bullish "Flag and Pole Pattern" Points To Note: 1. Bajaj Finsrev is sitting at a very crucial point. The breakout and closing above the downward channel will attract a bullish momentum. Afterwards, the 17,300 levels will act as strong resistance as 50MA also coincides there. Failing to close above which will attract more downward...

dhavnilmodi1998

A few sessions back GODREJ CP has given a breakout after forming a bullish "FLAG ANF POLE" pattern. Points to Note: 1. Daily RSI is showing bullish divergence against the price. 2. Daily MACD has given a positive crossover and has just cut the 'Zero Line' signalling a bullish trend. 3. GODREJ CP has been consolidating for the last 6-7 sessions in the 25-30...

dhavnilmodi1998

POWERGRID is forming an "Ascending Triangle" pattern on daily charts. After giving an uptrend it has been consolidating and has already retested the upward trend line 2 times. It is facing heavy resistance around 215 levels and has strong support near 201. My Views: 1. Probable "Ascending Triangle" is forming which is a bullish pattern. 2. Strong Resistance at...

dhavnilmodi1998

I am very bullish on WIPRO. Looking at the chart Wipro is possibly forming a "CUP AND HANDLE" which is one of a very bullish pattern. Points to note: 1. Possible "CUP AND HANDLE FORMATION" is forming (which is highly likely). 2. The 720 level acted as a resistance and the candle retested it (in the past 3-4 times it retested too). I expect Wipro to...

dhavnilmodi1998

Today Nifty was in a consolidation mood. Nifty briefly consolidated within 108 (approx) points range throughout the day. The point where Nifty stands right now is very crucial. From 13th Dec to 17th Dec Nifty briefly consolidated within this range and gave a downward breakout. This breakout dragged the index all the way to its recent low near 16400. Nifty did...

dhavnilmodi1998

Let's get it straight. There are only 2 possibilities for NIFTY 50 from here. Both the possibilities are explained below: Possibility 1 The chances of this possibility are high because there is nothing wrong with the fundamentals of the companies in NIFTY50 and the INDIAN economy. I believe the markets are deliberately brought down for big investors to...

dhavnilmodi1998

According to my opinion, Tata Power looks bearish if it brokes the 44-EMA line. It is also at its crucial support. For now, it is forming a descending triangle formation if the next candle breaches the 44-EMA line or the present 215 level and gives a close below it on the daily chart, an initial target of around 200 is placed (which might act as a strong support)....

dhavnilmodi1998

Nifty has been consolidating from the last two trading sessions between 17200 and 17370 levels. Since Nifty has corrected around 400 points from last week, according to me a quick pullback is expected anytime soon. The overall trend is still bearish and with Nifty trading below 44-EMA on the daily chart. Nifty has to close above this level for the further upward...

dhavnilmodi1998

Every time DMART has went into the consolidation, it breakouts with high volumes. Similarly I expect some consolidation for some sessions and it will again eventually breakout with high volumes. I expect a target of around 5100 in coming sessions keeping SL @ 4920. This is only for educational purpose act wisely

dhavnilmodi1998

After opening gap down and falling to daily low @ 17914, Nifty respected the upward trend line (Passing from that level) drawn from 29th Oct. It took support 2 times from that trend line. Nifty also respected the 50-EMA on 15 minutes chart going for an upward move after consolidating. Since FII are continuously selling since the start of the month, Nifty finds...

dhavnilmodi1998

As I said yesterday, Nifty is weaker below its 20-SMA (on the daily chart). Nifty failed to breach the 20-SMA line on the daily chart and settled below it. The further uptrend is not confirmed until the Nifty closes above 20-SMA. (on the daily chart). It came all the way down to 17980 level from the day top of 18113. Yesterday, I did mention unless Nifty stays...