navjotsingh12356

navjotsingh12356

This pattern took 4 years in the making, and successfully completed the retest from its top. Currently its at a prefect spot to take positional trades as well as for investment.

navjotsingh12356

CL1! futures broke out of its upward channel in late February and now the upper end of this channel is acting as a good support. If it continues to hold these levels, new highs will be seen pretty soon!

navjotsingh12356

NIFTY 50 on Monday and Tuesday gave a little pullback from the 38.2% fib level indicating that the underlying of Indian Stock market is still bullish. 16900 is immediate support for Nifty 50 and if slipped below, 16400 will act as strong support area. Buy on dips seems like the best strategy for now, breakout will occur if 17600 is sustained on closing basis.

navjotsingh12356

Steel authority of India has been in an uptrend recently with the metal sector making new highs overall. At present SAIL seems like its getting support from 38.2% fib retracement level and an trendline as shown in the chart.

navjotsingh12356

nifty 50 downward channel. Fibonachi support and resistance levels are drawn.

navjotsingh12356

The Indian stock market witnessed a bullish engulfing pattern on its nifty50 index last Friday which confirmed the reversal from a trendline which dates back to 2020. Rally to new all times high is expected.

navjotsingh12356

Stuck in a range right now but the prevailing down trend could continue.

navjotsingh12356

Positive signals on RSI and MACD indicators for Hindustan Unilever Ltd. in addition to strong support area and long term trednline are indicating a high possibility of a significant upmove from the current price level.

navjotsingh12356 Updated 

The Nifty 50 index has twice retested the 50% retracement level on the hourly charts and is at a solid support level of 18000 - 18100. RSI is showing a positive divergence which could be the first indication that the trend could turn back from this point following a short covering rally which may place Nifty back into the all times high trajectory.

navjotsingh12356

It seems like the Indian market is going through a healthy short term correction, the trend however is still extremely bullish. look for any dips to go long in Nifty futures but keep your position size reasonably smaller than before.

navjotsingh12356

Decisive close above resistance area with 5 times the average daily volumes. Positional traders and investors can accumulate this stock at any dips above 230.

navjotsingh12356

Breakout confirmed with heavy volumes. Enter a long trade at current market price for a target of 1650 with an SL of 1450.