nano6yogesh

nano6yogesh

JSW Steel NSE:JSWSTEEL has been very strong and came out with a good set of numbers. However, it has been struggling around 333 since many days. Now that the result is out, profit booking seems to have started kicking in. I can see a divergence here with a large bearish engulfing candle that it formed today. Good opportunity to go short with a stop loss...

nano6yogesh

Bharti Infratel NSE:INFRATEL stock is doing good for the past few days in a falling market and has shown a sharp reversal from the 308-311 support zone. I can see a double bottom formation here with a positive divergence. Good opportunity to buy this stock for the near term with a target of around 350 and stop loss a few points below 308. Disclaimer: Views...

nano6yogesh

Tata Steel NSE:TATASTEEL is witnessing selling pressure after not so good results where most of the profit came from exceptional gain. I can see that the stock has also reversed after retracing around ~ 38.2% of its previous fall from Jan 31 highs and is on its way to form a Bearish Engulfing candlle today. Good opportunity to short here with stop loss a few...

nano6yogesh

HDFC NSE:HDFC has been slowly rising towards its previous high made on Jan 29. However, the stocks has once again failed to clear the resistance around 1950 levels and is slowly moving down. I can see a Double top formation here with negative divergence. Looking for shorting opportunities in this stock with stop loss above recent highs and first target of...

nano6yogesh

Lupin NSE:LUPIN came up with better than expected numbers (operational performance) yesterday and the stock saw good buying activity today. I can see a double bottom formation here with a positive divergence along with today’s bullish candle. Good opportunity to go long with a stop loss near ~ 720 levels and first target of around 815. Disclaimer: Views...

nano6yogesh

As mentioned yesterday, a reversal in pharma seems around the corner. The stock has formed a good Double bottom with divergence and a large Bullish candle indicating that Buying Momentum is picking up. Good opportunity to go long with a stop loss near ~ 500 levels for a target of ~ 582. (However, keep an eye on the results) Disclaimer: Views expressed here...

nano6yogesh

Pharma stocks have been beaten black and blue since a long time now. This sector has shown almost no upside at all when other sectors have rallied turn by turn taking Nifty near 11000 levels. I can see a Triple Bottom Formation here with increasing buying interest near a strong support area in Nifty Pharma NSE:CNXPHARMA . Many Pharma stocks like Lupin ...

nano6yogesh

IT Index NSE:CNXIT has been moving sideways for past few days. With election results also out, there is hardly any indication that the correction in IT is over. KPIT has been struggling around 265 levels. I can see a Negative Divergence and a couple of bearish candles around the top. Looking for shorting opportunities in this stock with a stop loss near...

nano6yogesh

Nifty and Banknifty have formed a shooting star pattern today after Karnataka Election Results which may indicate trend reversal. I am looking for shorting opportunities in relatively weak private sector banks like ICICI NSE:ICICIBANK and Axis NSE:AXISBANK who came up with bad results but have gone up significantly. Here I see a Bearish candle around 50%...

nano6yogesh Updated 

Today’s closing of Banknifty NSE:BANKNIFTY has been just below the resistance at around 26150 levels. Staying above this level might lead to further uptrend. A break below 26000 may trigger a massive downfall. However, the rally has been going on for more than a month now and Private banks like Kotak and IndusInd have started showing signs of...

nano6yogesh

NSE:DIVISLAB This stock is very volatile and has had a couple of wild runs ... (so one needs to be careful.) The stock has also completely recovered from its February lows and made a higher high. However, I can see a divergence here with an evening star pattern at the top. Good shorting opportunity here with Stop loss of a few points above the recent highs...

nano6yogesh Updated 

As we know, Oil Marketing Companies (OMCs) are being hammered since a long time now due to recent rise in Crude oil price and Rupee depreciation. Today’s strong Bullish candle may signal an end to this downtrend. I can see a Double Bottom formation here on BPCL NSE:BPCL with Positive RSI Divergence and similar structure has been observed on IOC and HPCL ...

nano6yogesh Updated 

Escorts Ltd. NSE:ESCORTS is a growing company in the Auto sector and its stock price has witnessed a spectacular rise in the past year. However, I can see that the price is facing a stiff resistance near 1000 zone. (995 – 1020 levels). Besides, there is also a Double top formation with Negative RSI Divergence on the Daily chart. Taking short position here...

nano6yogesh Updated 

IndusInd bank NSE:INDUSINDBK has been struggling at 1900 levels for past few days and looks like Bulls seem to be exhausted, unable to get it past this crucial resistance. With Nifty Private Bank Index also closing at a crucial level today, a big movement from here seems inevitable. I can see a Negative Divergence on Daily chart with price consolidating near...

nano6yogesh

SRF Ltd. NSE:SRF has formed a clear Double top with Negative Divergence. To me looks like it is slowly moving towards ~ 2000 levels guys. 2300 can be a good resistance on the upside. However one needs to watch out for result on May 17. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your...

nano6yogesh

Jubilant Foodworks NSE:JUBLFOOD has had a massive rally since June last year and came up with a strong set of numbers 2 days ago. However, it is still going down which is a sign that the stock has run up too far and now Investors have started booking profits. With a Negative Divergence and a Bearish Engulfing candle at the top, the stock presents a nice...

nano6yogesh

This stock has been in a major uptrend since December last year. After a long stretch of upmove, time seems to be ripe for Investors to start booking profits in this stock. I can see an indication of profit booking commencing from the Negative Divergence and large Bearish Candle that it formed today. Went short here with a stop loss above 169 for a target...