mklives

mklives Updated 

JUBILANT FOODS.. unable to climb higher even when nifty flat or grinding up.. forming wicks losing momentum time to sell. SL 1630 target 1540 1480. this is a positonal call. december series. any upmove can be used to short or short at cmp and add again at higher price. previous call given at 1620 . still hold though i closed it

mklives

SBI s still holding fort. as long as it holds above 323 on closing basis, it can test 344 345 which 61.8% retracement of the previous while fall. i would prefer to sell at 344 345 rather than buying at this juncture since it has already rallied.

mklives Updated 

Jubilant Foods is forming negative divergence on dialy charts. sell at cmp for target of 1580 1560 or for a test of 20 dma. SL 1640

mklives Updated 

ICICI BANK is facing resistance at long term and short term trend lines. short term it is up steeply. look for break of wedge or levels of 520s to short.. very strong stock so unlikely to fall easily target 480

mklives Updated 

BATA INDIA looks like it has completed its 5 waves.. any up move to 1720 to 1740 if at all it rebounds is a sellw ith SL 1760 targets 1650 1530 note: am a novice EW guy. just for study purpose charts are drawn with EW

mklives

Bajaj Finserv has reached important trendline resitance in its long term chart. any big move up the trendline might give an accelrated up move which might be the last leg.. else like its previous nstnces it might grind along the upper trend line..

mklives Updated 

RBL BANK is forming divergence.. some thing to watch for.. Bandhan bank had a collapse too but recovered down the line..

mklives Updated 

ICICI Prudential has formed a gravestone weekly doji, next week movment is critical. looks like the move is stretched and can expect a decent correct to 500 480 levels

mklives

AU SMALL FINANCE has given a huge breakout above the previous resistances in long term.. buy on dips to 760 780 and add more on further fall to 740 . can test 900. looks like it can do more considering the long consolidation it has gone through

mklives

Is the wave count correct? i am not good with EW infact very poor. please correct me where i went wrong :)

mklives Updated 

Asian Paints after a sideways phase has begun to weaken and closed below daily Kijun also tested 20 dma and couldnt sustain short with SL 1790 target 1720/1710

mklives Updated 

NIFTY Weekly is in divergence. RSI currently is at important levels of the falling trendlines of lower highs of rsi also nifty facing resistance at 11980 levels. expect a test of 20 dma atleast soon..

mklives

AxisBank closed on the rising trendline and 100 dma.. break below will lead to further correction

mklives

ICICI BANK..rising in a wedge.. Break below Wedge is a good shorting opportunity...

mklives Updated 

ASIAN PAINTS.. after holding up finally succumbed to selling . not able to cross above the the high it had formed its has formed a clear negative divergence,,u can call it triple or even quadruple divergence. Short with SL of 1794 for targets of 1725 1700 and possibly fill the gap at 1680.

mklives Updated 

BERGER PAINTS after a mammoth move, is finally showing weakness. formed a bearish harami.. like Asian paints this is also showing clear negative divergence... quadruple divergence on daily charts futures is at a discount to cash price, so trade accordingly for the shorts short with the SL 520, targets 475 to start. might get a deeper correction to 450 440 down...

mklives Updated 

NIFTY is testing the zone from where it had started its downtrend. 11962 11982 is a tough zone to cross. although market is in a bullish mode, this zone wont be taken out and surpassed at first go expecting some profit booking to 11700. short with SL 12100 target 11700.

mklives Updated 

JSW steel after forming a good base around 200 210 zone is ready for a big move.. fridays candle is bullish and expect to break above 100 dma. next stop 200 dma at 260 SL 227