karan_bagri

karan_bagri

Nifty has broken all the support levels indicating weakness. Now support for Nifty can come at 16700-16750 range as seen today, while on the upside 17250 can be a minor resistance level and 17400 as major

karan_bagri

Banknifty as we said underperforming Nifty has proven our words. As per trend it is trading below a descending trendline and also broke it's 38200 support level, if price isn't able to cross 38200 then we can see 37700 soon which will be a support level and next to that support is at 37000. On the upper side resistance is at 38200 and 38600.

karan_bagri

Nifty broke 18000 yesterday and continued trading below it indicating further weakness in price, it also broke a rising channel pattern giving bearish bias now. Until it trades below 18k we can see 17800 level soon which can be a "support" and after that next support is at 17600. Looking at the upside we still see 18000 as a barrier.

karan_bagri Updated 

Banknifty holding 38600 support level, currently banknifty is underperforming Nifty 50. As Nifty has already broken its 18k level banknifty is still hovering below 39000. To see strength in banknifty it has to clear 39400 and 39900 levels. Rest Support & Resistance levels are shown in the chart.

karan_bagri

Nifty has managed to close above 18000 level for consecutive 2 days showing bullish bias. Untill price stays above 18000 range we are not opening fresh short positions, new long trades can be created at this point with SL below 18000. If index manages to stay above 18000 then we can see 18300 that will be a resistance for Nifty, while support is at 18000 and 17800.

karan_bagri

Banknifty is trading below 2 support levels 39400 & 38600 next support is at 38200 level if this breaks then price can go to 37700. While on the upside resistance is at 39400 and 39900. We will only see bullish momentum in Banknifty if crosses above 39900-40200 zone.

karan_bagri

Nifty saw pressure at 18k range which shows that buying pressure has gone weak now and any move below minor support of 17800 can take index to 17600. Resistance is 18,000-18,050 range.

karan_bagri

Nifty closed above 18,000 resistance area indicating more upside move on upcoming days. Now resistance for Nifty stands at 18300, while there's an immediate support at 18000 and next support is at 17850.

karan_bagri

Stock made a base at 880 price. Today's momentum is showing good bullish sentiment suggesting further upside potential. Support is at 880 & stock can see resistance at 980. Setup will be invalidated if crosses below 870.

karan_bagri

After a long rally and a series of higher highs & higher lows we are seeing Head & Shoulder pattern at the top of chart in CRUDE suggesting some correction in prices. MACD has also shown divergence, untill the price stays below neckline of the pattern we can see more decline in prices of Crude till 5900 to 5700. Break of the neckline and right shoulder will...

karan_bagri

Unusual pullback after a long term downtrend in stock indicating weakness in present trend. Momentum of counter trend pullback is stronger than usual with MACD making fresh high since the last 9 months period. Price is also trading in a Channel right now and bounce from lower levels is visible here. A long trade can be made here with strict "stoploss" of 678 or...

karan_bagri

Banknifty is facing near 39900 area, however it crossed 40k but wasn't able to hold that price and closed arond 39900. Now Banknifty is trading at make or break zone breakout above 39900 with momentum will lead price to 40500, while reversal from 39900 can take index back to 39400.

karan_bagri

As we stated in last day's analysis on Nifty that it may see some pressure near 18k zone that clearly what we saw today. Now moving ahead price will face some resistance on 18k area again while support on the downside is 17600. However if Nifty manages to clear 18000 then it can can go to 18200 - 18320.

karan_bagri

After making a hammer at support level of 1580 price has seen momentum in next sessions. Hdfc Bank is heading towards resistance area of 1630 if that gets cleared then it can go to 1670-1700. Support is at 1580 as of now if that gets broken then we can see 1533

karan_bagri

Banknifty took support at 38800 level and cleared resistance of 39400. Price is heading towards 39900 resistance if this level gets cleared then index can go till 40500. While on the downside support is at 39400 now.

karan_bagri

Nifty reversed from 17600 support level and heading towards 18000 zone now which could be a resistance area. Support still stands at 17600. Once nifty clears 18k level then it is open for 18300.

karan_bagri

UPL has been trading in falling channel and is currently near the upper band of channel, price rejection is visible at these levels. The price action behaviour of this channel indicates that we can see some fall in UPL and price could go to 700 & 680. View neglected if price breaks the upper band and sustains. Stoploss for this setup is 768 or conservative traders...

karan_bagri

Banknifty broke all three support level today and took a minor bounce from 39400, however banknifty passed some time near 40200 area but was unable to hold it. If banknifty breaks 39400 then next support levels are 38600 & 38200. Resistance now stands at 39900 - 40200 & 40500