gtchelvan

gtchelvan

HDFC Bank travelled a long way from the bottom, It dont have any intention of breaking out the 1.38 Fibbo, There seems a strong resistance on the chart on these levels, especially Rs.1710 Range. Once this level is not breaking then, there will be a trace back till 0.38 Fibbo (i.e Rs.1550.

gtchelvan

Here on it will bounce a little bit and will trace back to the three quarters earnings. Sales estimate is not as per expectation and the Earnings is not in normal workings. it has a boost from taxation around 87% this has led the spike in EPS. apart from this not a cracking numbers. our view is after a temporary bounce it will trace back to the previous lows.

gtchelvan

Whenever a sharp down trend forming after a long sideways move, One might think that this is being done purposfully to hit the stop losses. But obviously no. Whenever the sideway move forms after an impulsive move. Its worth to test the upper move is arrested or not. hence, Once again testing peak again, Normally this will take the move much more upwards when...

gtchelvan

Retracement of 50% level is much confirmed that the trend will extend upto 1.236 mark of Fibbo. That will be the Peak of this decade. Given that market not willing to makes its u turn as of now but had a long journey till this time that needs a correction of 50% from the last leg of bottom

gtchelvan

Nifty has taken the straight trend for the longer time fram, defies the correction and sustains the average lines so far, but the law of gravity should be respected. (Retracement), so far DII inflow keeps the nifty higher, Once the DII fund is being started taken out, the price will fall like a Tom from clouds.It had a break out at 18820 that lasts for 5% upward...

gtchelvan

Since the Stock is keep on Trading the below 38% Retracement levels, more over the long downtrend doesn't show any bounce back when warrented. Weekly chart shows that the stock is set for the fresh down trend once the bottom of the support broken.

gtchelvan

Reliance at present trading at 2400 range and if it closes below, Will find the bottom at 2000 level. Since It try to breaks many time around 3300 range, Then it all become fake spikes. in.tradingview.com in.tradingview.com

gtchelvan

With the Strong volume presense over the Rs.2000 Range after that the price escalates a bit and don't have a support otherthan Rs.2400, Once the 2400 is decisively broken then next stop will be 2000 Range only. Since, many time this has been violated and becomes fake up spikes. However Rs.2000 will be a good long term support.

gtchelvan Updated 

Since the market has tries to stabilise at the overbought level. Recent news flows makes the market to give away the gains for some bit. Hence the trace back will happen upto 15% from the current level. World market also will follow the suite.. But its a good chance to build the long term portfolio.

gtchelvan

Not seems like a healthy chart since, downside is not allowed that makes the chart more vulnerable for the next big slide.. Hence if it break out from this stage will not be a meaningful rally. Hence remain due for the larger Correction.

gtchelvan

Due to the shorterm price escallation and wanted to sonsolidate for a longer term. Auto Sector will be a huge under performer in the coming days. Passenger vehicles are already facing chip shortages that is yet to overcome. Macro factor like inflation is are real worrying factor for the auto sector. Once the price started fall from the current stage will bring the...

gtchelvan

Premature rally, will find its way back to retrace the second stage atleast..

gtchelvan

It looks the pattern of head and solder is being formed by taiwan's index