nano6yogesh

nano6yogesh

TCS NSE:TCS again got rejected at the long term trendline resistance which has been holding strong since Oct 1,2018. I can see that it formed a long Bearish candle and an Evening Star pattern on Feb 28. Good opportunity to shot for targets of 1940 and 1920 with stop loss a few points above the downward sloping trendline. Disclaimer: Views expressed here are...

nano6yogesh

Friday's selloff in Kotak Mahindra Bank due to ING's stake sale has taken it back to its supporting trendline. Seems that it has already broken the trendline slightly, but will look for confirmation to sell it for targets of 1210 and 1170. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your...

nano6yogesh

Maruti NSE:MARUTI has again been rejected at the long therm downward sloping trendline. Also, Friday's large Bearish candle erased all of Thursday's gains and looks like there is a formation of an Evening Star like pattern. The stock may reach earlier support levels of 6700 and 6500. Good to short here with stop just above the trendline. Disclaimer: Views...

nano6yogesh

As mentioned in the chart, looking at the level at which Banknifty currently is, there is at long term trendline resistance,a rising wedge which seems to have come to an end and a possible Head and Shoulders pattern in the making. Would look for shorting opportunities here with a stop few points above 27900 for a target around 26400 and 25600...

nano6yogesh

Wipro has failed yet again around 335 levels forming Double top in the week of 17 September 2018 and 17 December 2018 . I can also see a large Bearish Engulfing candle for this week. Looks like the stock is headed back to 305 levels. Good opportunity to short with stop loss around 335. Disclaimer: Views expressed here are my own, and should not be interpreted...

nano6yogesh

Infosys NSE:INFY has been in a downtrend since October making lower swing highs. I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle. Shorted here with stop loss a few points above the trendline resistance for a first target of 625. A deeper correction can take it to 610. Disclaimer: Views expressed here...

nano6yogesh

Kotak Mahindra Bank NSE:KOTAKBANK got rejected at the long term upward trendline after a good pullback. I think it is heading back to 1118 levels. Break of 1118 can even take it to 1050. Good opportunity to short with stop loss a few points above the trendline. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...

nano6yogesh

Maruti has been in a strong Bearish trend since July 23, 2018. The stock tried to hold 6900 levels for almost 3 weeks before breaking down further. I can see a breakdown of an Inverted Flag pattern here. Good opportunity to short for targets of 6600 and 6200 with a stop loss just above 6900. Disclaimer: Views expressed here are my own, and should not be...

nano6yogesh

L&T has broken major trendline support of the upmove since Feb 2016. So long as it stays below 1260 levels, we are likely to see levels of 1184 and 1117 if 1184 is broken. Good opportunity to short here with a stop loss of 1260. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial...

nano6yogesh

Banknifty had been consolidating in the range of 25650 - 24950 for 7 trading days and finally broke down convincingly yesterday after RBI policy. I can see a breakout of an Inverted Flag pattern that Banknifty -1.51% was forming. Good opportunity to go short for a target around 23650. Disclaimer: Views expressed here are my own, and should not be...

nano6yogesh

Mindtree NSE:MINDTREE has been weak since past 3 weeks among the IT pack. It broke the crucial support at 1100 last week. Also, there is a Bearish divergence on weekly chart. Good opportunity to short here with stop loss a few points above 1100 for a target around 930 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an...

nano6yogesh

Banknifty has been very weak since past 2 months and Friday’s fall suggests the weakness might extend further. I can see RSI divergence on weekly chart and also breaking of the long term trendline. We might have a pullback but so long as 26400 levels are not broken, it can retest or break Friday’s lows in coming weeks. Good shorting opportunity for a first...

nano6yogesh

Lupin is the latest stock in the Pharma sector to have given a breakout at higher level. The stock has broken the downward trendline of past 3 years !! Good opportunity to go long for a first target of 1040 with a stop loss around 920 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your...

nano6yogesh

After a steep fall of 3 months, looks like Ashok Leyland NSE:ASHOKLEY has resumed its upward journey from August. I can see that the stock has reversed from its long term trendline forming a Bullish Engulfing candle. Also, it has reversed after retracing 61.8% of its previous upmove. Good stock to accumulate with a stop loss below 110 levels. Disclaimer:...

nano6yogesh

After a month long consolidation from 27 July, looks like HDFC bank NSE:HDFCBANK may have bottomed out. The stock has underperformed for the past month even as some other banks like Axis and ICICI have made new highs. I can see that it has taken long term trendline support around 2060 zones and also formed a Double bottom on the daily chart. The stock also...

nano6yogesh

After a very swift rally from 257 to 345 levels, looks like profit booking is due in ICICI bank NSE:ICICIBANK . I can see that the stock has failed to clear major trendline resistance and also got rejected at 78.6% of its previous downmove. Good opportunity to short here with a stop loss just above the trendline and a target around 311 levels. Disclaimer:...

nano6yogesh

Yes Bank NSE:YESBANK had been trying to breach the 370-385 zone for almost a year !! The stock has given a trendline resistance breakout as well as Ascending triangle breakout on Weekly charts. Good stock to accumulate with a stop loss of 370. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult...

nano6yogesh

IndusInd bank made a lifetime high around 2040 on August 3, 2018. However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path. I can see that the stock got rejected at its long term trendline resistance and is slowly moving down. Good opportunity to go short with a stop loss of...