Nifty IT bounced as expected towards 10600 mentioned in the previous NIFTY IT update . Risk::Reward ratio looks favorable for Bears at these levels Take care and safe trading...!!!
Aurobindo Pharma CMP 616 The stock is likely to have made a double bottom. Target 656
Nifty 9336 - 9352 represents 61.8% and 76.4% retracement level of yesterday's fall. Unable to cross we might head back towards 9265-9240 zone. Take care and safe trading...!!!
The stock is facing resistance near 38.2% Fib retracement level which is at 510 level The stock may fall up to 471 levels in coming days... Take care & safe trading...!!!
Points to be noted from the above chart - one may notice that Whenever Bank Nifty has broken its 5 day EMA it has invariably tested its 20 days EMA. - Moreover the chart also reflects that the index has touched its 1.618 Fibonacci extension level which is an important level to watch out for. - Given the chart set up, if Bank Nifty respects the 1.618 extension...
The stock may test 1380-1365 levels in coming days... Take care & safe trading...!!!
Have projected my views on the chart itself... It is the downtrend in VIX which is helping push / maintain Nifty in the upward direction... Keep a close eye on Volatility index as it may be an early indicator to signal a reversal in market. And if VIX starts moving up towards 24 some time later this year (it has tested 24 levels each year in the last 5 years),...
Nifty CMP 9356 Keep a small stop of 15 points... Take care and safe trading...!!!
We are looking at a 8 year Nifty IT chart Lets see what the chart is trying to tell us... - Between 2009 to 2015 the price has risen from 1933 levels to 12908 levels - Since Jan 2009 till March 2015 the index has been making higher top higher bottom - It is only after March 2015 that the index is seen making lower top lower bottom on a regular basis Hence...
The stock may face resistance around 1450 levels in the short term. May fall up to 1360 -1344 zone
Apollo tyres CMP 222 The stock is today giving some signs of reversal from trend line resistance. One may consider selling Apollo Tyres April series Call Option Lot size 3000 Strike Price: 230 CMP :3.5 Margin requirement: Rs 96000/- approx Max profit potential Rs 10500 /- per lot Thats a potential of 10.9% on margin amount Holding period: till 27th...
A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock. It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami. Recognition Criteria 1. The market is characterized by a prevailing downtrend. 2. A red body is observed on the first day. 3. The Doji that is formed on the second day is completely...