mklives

mklives Updated 

ICICI BANK...has been a stock of steel and in a strong uptrend. and has reach 2.618 extension likely to correct to correct to the 20 daily moving avg to start with..

mklives Updated 

Reliance Industries has formed a clean bearish engulfing candle today. any upside possible will be close above todays candle only Daily Kijun test is possible which is around 1520, since 20 dma is near by we might see some support. todays move shows bearish setup on daily charts

mklives

ICICI BANK is over extended on daily charts and has formed what looks like a gravestone doji but not sure about it thought looks like its time for a correction. sell below todays low for 520 target. SL todays high

mklives Updated 

Reliance is tying hard to hold onto the rising trendline but slowly weakening and breaking it on daily charts also last few days, daily tenkan san is being a good resitance for the price and is unable to cross it. looks like a test of 20 dma or deeper to daily kijun is possible

mklives

HDFC BANK is forming negative weekly divergence.. lets see if it can form a new high from here..

mklives Updated 

Bajaj Finance. weekly negative divergence...

mklives Updated 

SBI got rejected at rejected at 352 which is also 78.6% retracement of the fall from its life highs also broken rising trendline it can give a rebound or continue correction. 344 would be a good place to short with SL 352 can test 330 325

mklives Updated 

SBI formed a bullish engulfing on wednesday exciting people to buy..and today forms dark cloud cover.. yesterday was a corrective rebound up, bulls trapped expecting it to test 20 dma and below in the coming days for DEC series. .. 328 323 levels

mklives Updated 

Reliance last few days after the gap up. is slowing down after a big rally. last 9 candles on daily chart after the gap up, buy volumes are decreasing with sell bars increasing. looks like it is weakening. as long as it is above daily tenken san (light blue line), it might inch up but struggle . would be a good short if it again tests todays high with target 1530 1500

mklives Updated 

JUBILANT FOODS. is in negative divergence. and has closed below 20 dma today. can first test daily kijun at 1573 . if it bounces from there. use any rise to 1640 to go short again

mklives

ICICI BANK.. has been on a rampage and is one of the strongest stocks in the index it has been going up in a wedge. the wedge has been contracting and the price is still moving inside it today the tested tenkan san and formed a hammer. nov 5th is rbi meet and can be the time whether it gives a breakodwn of the wedge or go up for one last move up before a...

mklives

How trendlines help in finding support resistance. just a study for referance

mklives

NIfty is going up in a channel. can test 12300 12400 pretty soon

mklives

HDFCBANK has formed bearish engufling on daily charts.it has failed to cross 1285 1287 four times in the last one month 1287 is also the high fromed during the corporate tax cut rally. rsi looks like negative divergence with risi dropping but price testing 1287 and failing

mklives

NIFTY is in long term divergence. already triple divergence done, now will it form quadruple divergence? time will tell.

mklives

Bajaj Finserv is a classical example of why divergence can be tricky. monthly RSI has been forming lower highs but PRICE has been making higher highs.. divergence works better on daily charts, especially triple or quadruple divergence just something in noticed. please correct me if i am wrong.

mklives

SBI is chugging along the trendline and is heading to important resistance area of 346 347 it is also 78.6% retracement of its fall from its highs as long as the trennline holds it can continue to move up..

mklives

BANK NIFTY on a steep slope. longs be cautious..