ipuneet

ipuneet Updated 

Spotted an interesting formation on Reliance Industries. It supported the Nifty yesterday and helped it pull up from lower levels. Traders may go long today, following a stop loss of 1428 and targets of 1450-1465. Please carry due diligence, before taking a position.

ipuneet

Bank Nifty cracked further - Sub 30K levels can be expected.... Go on holding shorts, as long as 30900 is not breached.

ipuneet

As per Ichimoku, Kijun lies at 12023, Nifty has closed very close to that level. If that is breached, 11980 - 11945 - 11900 can be expected. Nifty is on lines of Bank Nifty now.

ipuneet

Nifty breached below the major trendline, closed at third support on the chart. Look for 12005-11980-11945 levels. Consider longs above 12170 only.

ipuneet

Reliance is moving well within a narrowing channel, Try to buy near 1465, with a stop loss of 1460 and targets of 1489-1511.

ipuneet Updated 

Reliance has been giving positive signals on various parameters. Buy for targets exceeding 1470-1495, keep 1430 as stop loss. Options Open Interest positions are looking encouraging, futures' build-up suggest shorts covering. Go long near closing price and keep a stop loss og 1430. 1460-1470-1495 can be expected in near future.

ipuneet

You may refer to the trend lines for direction and marked ranges for trading identified directions.

ipuneet

**Important levels on the downside are : 30700, 30570, 30245, 30020, 29820.**

ipuneet

As you know, Ichimoku is a complete system that provides a reliable signal. A closing above 12135 will be the fifth and final confirmation of medium term uptrend as per this complete system. KEEP TODAY's LOW as your stop loss, if you take a position.

ipuneet

Nifty cracked further, closed below 12000. It is indeed the lowest closing for the year and only IInd closing below 12000. A few attempts to recover were met with heavy selling, a day ahead of a major event. FII have been big sellers for past few days, in cash as well as derivatives markets. Some good news w.r.t. the budget tomorrow may provide some support...

ipuneet

Bank Nifty opened gap up, on the back of Kotak Bank news, some other bank too recovered from the lows. But this rally was not sufficient to shift it in positive territory. I would advise not to take naked trades on budget day and Monday, just keep en eye on how it responds at maor technical levels.

ipuneet

Bank Nifty's today's close is below 100 Days EMA. It even closed below a major trend line that was supporting it, for past 2-3 days. Corona fear has gripped the markets so much that any attempts to pull back are being sold into. Markets are oversold but there are no signs of recovery, yet. Would like to share something w.r.t. budget too, though there are not...

ipuneet

My followers and regular readers, have been reading about 9/34 EMA system for medium term trend estimation. Nifty was on verge of giving a "Negative Signal", that came today. It was 9th July, when this system has given a SELL last time, which was followed by a correction of over 700 points then. It is certainly not necessary that the same will be repeated this...

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The small gains has made no change to the stance of BankNifty. It continues to trade above an important trend line and in SELL mode as per reliable medium term trend indicator, 9&34 EMAs on Index n RSI. Not comfortable with taking storts at this level, despite confirmed week signals. Let the Budget pass . . . closing bove Delta neutral strategies can be used...

ipuneet

As expected, following global markets Nifty took a breather today and closed with some gains. Tomorrow is monthly settlement day, budget is just three sessions away, Corona crisis still looms as large, only certain thing is the "volatility and uncertainty". On 22nd Jan, when I draw the blue trend line connection lows, I've said this line is important and will...

ipuneet

Nifty is on the verge of giving a medium term -VE signal, on a reliable 9/34 EMA on Index and RSI System. Otherwise it continued to trade below the major trendline, I've discussed in my y'day's post. Technically, there is nothing to expect a recovery tomorrow. But, we are just four days away from a major event, and markets are oversold. A little push from...

ipuneet

I am sure you remember this chart, the supportline has provided support to Nifty during earlier fall, last week. Today's closing is a little below this line. Nifty RSI on day chart is below 50, Nifty closed way below 20 DEMA and a tad above 50 DEMA, which is placed at 12088. On 9/34 EMA on index n RSI system, there is still some hope, 9&34 EMAs on Index are some...

ipuneet

If we go by just the trend line, Bank Nifty closed at a more comfortable level. But as you know, it continues to remain weak 9/34 EMA System. Let us see how it behaves with the trendline tomorrow. (the EMAs shown in the chart are 50 & 100.) The RSI value is below 40, B.Nifty is trading below 20 and 50 Daily EMAs and close to 100 Day EMA, which is at 30786, the...