mklives

Reliance Industries has hit resistance where 200 50 and 20 dma are converging and formed a bearish closing short with todays high as stop loss and trgt 1160 1170

INDIGO has been on its own flight path up with occasional massive or 2 corrections. thought the stock has hit 52 week and all time high, 1750 1760 seems to be major resistance zone as shown. would advice longs to be careful.

NIFTY. is inside a short erm triangle with FM meet after market hours today, nifty can go either way.. wait for break on either side for trade..

HDFC is downtrending in a channel. its breaking trendlines. only suport now is 200 dma and recently formed low

IGL has tested its previous high and dropped current it is an rising wedge and looks like has broken it short at cmp or on rise with SL at 336

buy sbi at cmp for target of 280 SL 268

HDFC pullback from 200 dma seems to be over and closed 20, 100dma and also below cloud support the cloud will act as resistance and might push the stock down..

Nifty on weekly is currently below the 100 weekly dma and also morei mportant below the weekly CLOUD. also it is at Monthly 20 dma. a critical area if the weekly close happens below the cloud, could signal pending weakness, unless it manages to go into the cloud, signalling support taken.

Maruti respcting channelm rejected at weekly 20 dma

BANK NIFTY today closed below its 100 weekly mov avg. previous instances it has rebounded around this zone but it has also broken the trendline from the 2 previous instances. this week and next week are crucial to see if we get a bounce

BATA INDIA.. one of the gems in the struggling market likely to face stiff resistance around 1600 zone. wait for rejection to enter trade..

Asian Paints , a night mare for shorters in august (including me) as it just kept going up. Made a new high on clear divergence in RSI Price will not be able tp sustain at these levels for long. wait for a break of Tenken (blue line). expecting a correction to 20 dma sometime and lower to test Kijun Sen (maroon line). its a positional call. targets 1580 1550 1530

BPCL. current pullback is heading into resistance of 200 dma and 50 dma at 357 and also cloud resistance around 360. look to short around 357-360 for target of 345

SUNPHARMA after a long time, is crossing 200 dma news about the whistle blower went in favour of the company can be a contrarion bet in a weak market above 441 close, can give 10 % returns possibly.

INFOSYS couldnt sustain at life highs and had a sharp crack. likey to test gap support or fill the gap. time will tell

BANK nifty had a big move today on short covering. FIIs sold in the market where as DIIs bought. Kinda dubious data. Bank nifty next resistance is marked by two red lines, which also is the region of the 200 dma. that can be a tough resistance to cross at one go after a strong pullback from friday intraday. look to short around the 200 dma resistance zone

RELIANCE closed in the negative in a strong day for the market. it couldnt cross 100 dma which is also the weekly 20 dma reliance buy is only when it closes above 100 dma.. gap support of the AGM news 1227 1226 is acting as support for now.. if it breaks 1226 it can fill the gap to 1180.

Tata steel has fomred hidden positive divergence. any dip to todays low or around 330 332 can be used to buy with a Sl below todays low. expect 370 as a target.. or to test 20 dma at some point