Powergrid chart pattern showing consolidating @ 195 level for the last few trading sessions. RSI showing divergence @ current level.
We can expect the Stock to show some up move above 197.00
If price breaks support below 194.00, can expect the stock to continue its downtrend.
Whoever missed the Idea spike up recently, Idea is at 50% - 62% retracement fibonacci buy zone.
The 60 min chart shows a hidden bullish divergence on RSI with a bullish MACD crossover in this zone. The stock is finding support at this zone.
Aggressive traders can enter long at the current support level.
Conservative traders, enter the trade at the break of ...
Nifty shows an expanding triangle pattern.
Trend traders be away from this market, wait for price to breakout of this range to go long.
This market is a gold mine for aggressive range traders. Do not use trend indicators to analyse this market. Use oscillators to analyse this market.
Good Luck Range traders...
Short Powergrid at the fractal break of 190, target at major support 185. Expecting minor support @188.00 & 187.50
Buy Powergrid at breakout of major resistance @ 195, target at 199.5 & 205. Expecting some minor resistance @197.50
ITC has a hidden bullish divergence but it is trading below the cloud. Wait for the breakout of trendline and resistance at 265 to go long. Targets 268.50, 270.00, 272.50, 275.00.
If ITC bounces off the trendline and breaks the fractal at 262.30, since it is trading below the kumo cloud, short it with targets - 260, 257.50, 255
Wipro just bounced off at the support level 485. We also have a hidden bullish divergence. Go long at the break of trendline, with target at 500.
If Wipro breaks bounces off the trendline and breaks support at 485, wait for retest at resistance and short it with target at 470 level.
Infosys is in a very bullish area after a long time. It bounced off the good support near 1010 level. Buy if it breaks the above trendline.
If infosys breaks the support, let it retest the resistance at 1010 before shorting it with a target near 960 level
Reliance is at a 50% Fib Retracement, with the breakout of a minor trendline on 27th. We have also got a range breakout of RSI confirmation near oversold area.
Go Long on the Fractal Breakout of 1032.70 with a stop loss below the swing low.
If price exceeds the target zone, there is a high probability that it may reach 1080.