nano6yogesh

nano6yogesh

With Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel NSE:JSWSTEEL as it formed an extremely Bearish candle on Friday. I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence. Looks like the stock is heading towards 307 levels. Good opportunity to go short with a small stop...

nano6yogesh

After the corrective move around end of April, the final leg of correction seems to have commenced in Nifty IT NSE:CNXIT . IT stocks including large caps like TCS and Infosys witnessed heavy selling pressure today. Looks to me that the selloff will continue and is the start of a corrective move in IT index before a fresh uptrend begins. I can see that IT index...

nano6yogesh

I can see that Nifty NSE:NIFTY has formed a nice Double top around 10900 levels with RSI divergence. If it fails to cross this hurdle it may come back to 10420-10490 levels. If it breaks 10900 and sustains above it on closing basis the trade is invalidated. Good opportunity yo short here with a small stop loss. Disclaimer: Views expressed here are my own,...

nano6yogesh

Maruti Suzuki NSE:MARUTI witnessed stiff resistance around 9100 levels today and closed even below 9000. I can see that the stock was pushed down after retracing 76.4% of the previous downmove and has also formed an Evening Star pattern. Good opportunity to short here with a small stop loss for a target in the 8500-8600 zone. Disclaimer: Views expressed here...

nano6yogesh

Media sector in general is looking weak and Zee Entertainment Ltd. NSE:ZEEL formed a large Bearish candle today. I can see that the price got rejected after retracing 50% of the previous downmove, and has also formed an Evening Star pattern. Good opportunity to short here for a target around 534 levels. Disclaimer: Views expressed here are my own, and should...

nano6yogesh

After forming a Double bottom around 727 levels, Lupin NSE:LUPIN appears to have crossed the crucial resistance around 848 levels with a large Bullish candle. With Pharma Index going strong, further upside in this stock can be expected. Good opportunity to go long here with a small stop loss for a target around 950 levels. Disclaimer: Views expressed here are...

nano6yogesh

After the massive fall from 1108 levels, HCL Technologies NSE:HCLTECH managed to pull back to 934 levels but faced a stiff resistance in the 934-944 zone. I can see that the price faced strong rejection at 38.2% retracement of the previous downmove forming a large bearish engulfing candle. Good opportunity to short here for a target around 880...

nano6yogesh

After being locked in a range of 1140-1260 for more than a month, Tata Elxsi NSE:TATAELXSI has finally broken on the upside yesterday. I can see that it formed a large bullish candle with good volume yesterday. Good opportunity to buy here with stop loss a few points below 1260 for another cycle of upmove. Disclaimer: Views expressed here are my own, and...

nano6yogesh

Looks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days. However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today. Tomorrow’s candle would be...

nano6yogesh

This trade is for intraday basis on June 12. I can see that Cipla NSE:CIPLA is struggling at the resistance zone around 562 levels with a negative divergence on 15 min chart. Will look for selling opportunities below 562 if available near current levels for a first target around 546 levels. Disclaimer: Views expressed here are my own, and should not be...

nano6yogesh

This trade is for intraday basis on June 12. I can see that M&M NSE:M_M stock price has got nicely rejected after retracing 38.2% of the previous downmove, forming a Bearish Engulfing candle. Will look for selling opportunities below 912 if available near current levels for a first target in the 897-900 zone. Disclaimer: Views expressed here are my own, and...

nano6yogesh

Escorts NSE:ESCORTS has been struggling at the resistance zone around 922 levels. With a large Bearish candle on 15 min chart, the stock appears to be ready for breakdown. Good opportunity to short here with stop loss above 922 for a first target of about 900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...

nano6yogesh

This trade is for intraday basis. Dr Reddy NSE:DRREDDY appears to have topped out on 15 min chart around 2070 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it stays below 2070 for a first target around 2035 and next target around 2000 levels. Disclaimer: Views expressed here are my own, and should...

nano6yogesh

This is strictly on intraday basis. Aurobindo Pharma NSE:AUROPHARMA appears to have topped out on 15 min chart around 577 levels. The stock is struggling around 575 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it stays below 575 for a first target around 559 levels. Disclaimer: Views expressed...

nano6yogesh

This is strictly on intraday basis. Wockhardt NSE:WOCKPHARMA appears to have topped out on 15 min chart around 705 levels. I can see a negative divergence here with price coming down slowly. Good opportunity to short if it breaks below 686 for a target around 665 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an...

nano6yogesh

Tech Mahindra has been struggling to cross the resistance around 722 for past few days. With IT index looking weak, there is a high probability that the stock may crash soon. I can see a Double Top formation around 722 levels with a negative divergence. Good opportunity to short here with stop loss a few points above 722 for a first target around 640...

nano6yogesh

Banknifty appears considerably weak after the large Bearish Engulfing candle that it formed yesterday as it encountered heavy selling pressure around 27000 levels. With all the private sector banks witnessing a selloff on Monday, Yes Bank NSE:YESBANK looks like a nice candidate for shorting. I can see that the price got rejected at the resistance zone near 350...

nano6yogesh

After a considerable recovery from the lows of 1780, Bears seem to have taken fresh shorts again in HDFC Ltd. NSE:HDFC on Monday, as the stock failed to cross the crucial resistance at 1865 and was pushed down to 1833. I can see that the price got rejected after retracing 50% of the previous downmove and formed a large Bearish Englufing candle. Good...