financialmarketsalgorithms

Sun Pharma has been technically improving and is challenging crucial resistance after a period of consolidation. A break above the 590/600 mark will be bullish for higher targets.

A five wave downward move may be complete and EUR may be poised to move up. MACD supporting move with positive divergence.

Granules looking bullish with MACD support can target 140/143 zone. SL 122

GMR INFRA has seen higher volumes today with a 10% positive move today. MACD may be turning and ready to give buy signal. Break of resistance @ 20 Rs will target higher levels of 23-25 in the coming weeks.

Bank Nifty is locked in a short term trading range of 25600/25900. Very strong support in the region of 25150/25200. On break of 26000 levels upside targets of 26500 become probable.

Patel logistics has printed huge volume bars in the last few days and looks set for 100 plus targets. MACD and MA supportive.

Equitas targets 148/150 after breaking through resistance on 60 m charts. Sl 135. MACD supporitve

Nifty is in correction mode but has not retraced a large part of the previous swing. Bull market corrections usually correct 38% to 50% so one might watch out for support near the indicated zone. Derivatives data is suggesting very strong support in the region of 10000/10100.

Bank nifty facing short term selling pressure on the back of negative MACD divergence. May turn up after filling the first gap area?

Dr. Lal pathlabs is ready to start a new pattern after completing a downward impulsive pattern. SL below wave 5.

GBPJPY may be ready to break upwards out of a cup and handle formation above 151/151.5 range.

TV 18 may break to new highs after breaking out of triangle pattern. Stop can be at 39.

Recently broke through 2.4% resistance. May test 2.6% if the FED takes a hawkish tone in December. Interesting times ahead for the Bond market. The rising yield has impact on the emerging markets as well.

USD is gaining on the back of higher 10 yr treasury yields and Trump Tax plan. Heavy resistance area 114-115. If it manages to clear overhead resistance we are looking at 119/122 in next 3 months.

EURUSD poised to move to sub 1.16 levels to complete Wave 5. Watch for break out of triangle pattern.stop @ 1.19

Price above key moving averages and MACD turning up. Buy for target 18 to 18.5$. Stop 16.75

Extremely poor results from Axis Bank induce a sell-off taking out a 6 month trendline. Trend now bearish.

Struggling to clear resistance @ 113 zone. MACD in sell mode. stop 113.25. Targets 110.5/109.5