According to price action, NSE:PIDILITIND is showing signs of exhaustion and weakness. Reasons why I think this is a short candidate -
1) Both the Daily and Weekly candles appear to be weak.
2) Future OI has been unwinding long for the last 5 days, and there was short build up in this stock today as well.
3) DTF has formed a bearish marubozu candle.
4) For the...
NSE:INDUSINDBK is a short candidate on 1 hour timeframe. Couple of pointers to note -
Strong bearish candlestick has been formed on this timeframe.
It can give movement up to the breakdown target of 1140. Intermittent targets are reflecting on the chart
One can short this stock by placing a stop loss above 1218
Looks like a good R:R trade
Let's see how...
NSE:IGL is forming descending triangle and it would be worth a long shot for Dec series. Targets are marked on the chart
SL for longs can be - 205.
Would be best to play in cash or play with long synthetic split option strategy ( Sell put at strike A ( close to SL level ) and buy call for strike b ( potential target level or ATM call option )
Let's see which...
NSE:CNXAUTO - Overview on all timeframes - MTF, WTF, DTF
DTF its trading within ascending triangle. Expect price to consolidate
WTF its taking long term support and might make double bottom as long s 12675 is held on weekly closing basis. Also showing signs of flag pattern formation but that will be only confirmed if 12675 is held. If thats broken, bullish...
1) TVC:DJI is taking support of 20 EMA on a 3M timeframe. Still Dec 2022 has 10 more trading sessions and I would eagerly wait to see where the monthly candle closes
2) RSI sort of made a double bottom and has started rising approaching the SMA. If it crosses the trend lines marked, expect a sharp bounce or sort of...
TVC:DXY is approaching a key daily structure support
Levels of 103.4 to 103.8, is the zone to focus on
Depending on the reaction of the market to FOMC meeting, one can anticipate 2 potential scenarios to emerge -
1) If price breaks the resistance of a falling wedge pattern on DTF, a bullish move can be expected
2) If price breaks the support of a falling...
NSE:INDIAVIX - Weekly Chart
For the time being, it appears that 12 is a good support level and 16 is a good resistance level.
Please keep in mind that #IndiaVix is a simple concept that describes how quickly and unpredictably the Nifty 50 index is expected to change over the next 30 days.
Consider volatility to be negligible/dead below 15.
Above 23, consider...
NSE:NIFTY is forming or has formed H&S bottom on weekly chart. Price is looking good to stay long in this market and on the upside. Intermittent whips may come on the downside for intraday moves till 18128 but only if the following levels are breached - 18583, 18385 & 18297.
Positionally the trend is up itself.
If the green weekly trend line is breached at...
NSE:UPL showing resistance breakdown and also moving within triangle pattern. Short term reversal targets are listed on the chart.
SL for shorts will be 785
Let's see which way the story unfolds. Happy Trading!
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring...
NSE:MINDTREE has given breakout of cup and handle pattern along with gaining 200 EMA on DTF. I would wait for a retest candle before initiating long trade. SL would be 3274 for possible targets marked on the chart
Let's see which way the story unfolds. Happy Trading!
- The view expressed here are my personal views. I am publishing this for my...
NSE:STLTECH looks good for a swing trade. Price has moved out of triangle and will expand on the upside. Targets marked on the chart.
I have entered this with SL of 150 for positional move. Let's see which way the story unfolds. Happy Trading!
- The view expressed here are my personal views. I am publishing this for my own records and what I see...
NSE:NIFTY is still a sell on rise candidate on DTF & WTF basis. Overall view still bearish as the index is still trading below 20/50/100 EMA
Any upside will be just a pullback retracement rally,. Potential bearish pole and flag patten in the making and such pattens do attract 38.2%, 50% and 61.8% levels which are depicted using Fibo levels. A 72.8%...
NSE:COFORGE has managed to close above all EMAs 20/50/100/200 along with a spurt in volume . After making double bottom in Sept 2022, it seems the trend is changing with an up-move seen in IT index. Considering the momentum in NSE:CNXIT , this could move towards 4800, 5100 and 5900 levels. Also something interesting is that relative strength is almost at 0 as...
Straight Double Top Bearish Pattern on Capital Goods Index - Note this is on weekly timeframe
SL for shorts mentioned
All targets on the chart
Expect downside correction of 10 to 20 % over next 5 to 8 weeks
The index consists of 25 stocks - 8 FnO Stocks & 17 Cash Stocks. Constituents are -
ABB India Ltd
AIA Engineering Ltd
Bharat Electronics Ltd
Even though the chart is self explanatory, I have tried to compare NSE:NIFTY with NSE:INDIAVIX
Blue line is NSE:INDIAVIX
Brown line is NSE:NIFTY
Dashed red line is trendline support and NF breaking above that
Light yellow line is support line for NSE:INDIAVIX
2 possibilities exist -
1) India Vix continues to trade below or near the support line, and...
#CNXENERGY still a weak sector on DTF basis price action. It seems like a possible H&S Pattern in the making with neckline as the middle of parallel channel. Also since the price is below the MA's and in a down channel my overall view remainsBearish for this sector. Shorts recommended
Energy, Oil & Gas, Power Stocks clearly Avoid Long
Some stocks for the sector...
Possible swing trade opportunity
CMP - 436
Stop Loss 1 - 420
Stop Loss 2 - 405
Strict Stop Loss 3 - 375
Target 1 – 470 ( Next 5 to 7 days )
Target 2 – 524 ( 2 to 3 weeks )
Target 3 - 550 ( 3 to 5 weeks )
Reasons for my conviction -
1) No left side immediate resistance except a small gap which may get filled with the momentum in the stock
#RKFORGE CMP 618
Stop Loss below 560
Multiple resistances broken in the range of 610 to 615
Breaking out of 4 month long rectangle consolidation/formation
Nice volume spurt
May fire for an upside of 22% considering the rectangle mouth length
- The view expressed here are my personal views. I am publishing this for my own...