nerdywasabi

nerdywasabi

NSE:OFSS - Looking good with a pending breakout at 4254 levels from current price. With a SL below todays day low, one can look for long trade for a probable target listed on the chart. Let's see how the story develops. Best wishes! Disclaimer - - My thoughts are shared here. This is both for my own records and for keeping track of what I see on charts. - If...

nerdywasabi

NSE:TATASTEEL on weekly charts has a commanding positional advantage. Since commodities are news and dollar driven, some little knee jerk reactions can emerge during the journey, and perhaps by the end of September or early October, NSE:TATASTEEL can become a brilliant trade to play with. The positional view is also displayed on the chart, but it will need...

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NSE:TORNTPHARM has made a bearish harami on weekly candle. If 1507 is taken out on downside and a close comes below that, I would be looking for 1481, 1461 and 1452 levels on the downside. Depending upon your risk appetite, enter the trade either in cash or in options. Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here...

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NSE:CUMMINSIND making rising wedge on weekly charts and also has formed a evening star candlestick pattern. With a SL of 1666, one can short for T1 of 1552 and T2 of 1518. Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here are my own. This is for my own records as well as what I see on charts. - If you are referring to...

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NSE:HDFCLIFE is looking good for a small upside move with last week's candle coming as bullish engulfing candle. With a stop of Friday's candle low, one can look for 510, 518, 525 levels. We will revisit this trade if the weekly close comes above 528 Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here are my own. This is...

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NSE:INDIGO looking good for an upside. Once 1910 is taken out, expect the stock to do 2038. Weekly close came as bullish harami and hence the positional upside bias! Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here are my own. This is for my own records as well as what I see on charts. - If you are referring to this,...

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NSE:BRITANNIA is looking weak on weekly chart as its making bearish engulfing candle. Also closing below last week's low and showing weekly fractal support breakdown. Looking for 4041 and 3949 on downside. SL is relatively small of 4255. Better to short this in cash and not play in options cos one spike can take away your SL in option trade. Let's see how...

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NSE:TRENT is looking weak on weekly chart as it has made a bearish engulfing candle. Also closing below 20 EMA on weekly. Looking for 1279 ( 50 EMA weekly support ). If a close comes below this, we can 1256 & 1231 on downside. SL is relatively small of 1345 which is Friday's high. Better to short this in cash and not play in options cos one spike can take away...

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NSE:SHREECEM looking ripe for a good R:R trade on upside with last week's candle closing as Bullish Harami candlestick. I would wait for 25550 to be taken out as that is a small resistance and then enter the trade with SL of Friday's candle. One can looking for upside target of 26340 Let's see how the story develops. Best wishes! Disclaimer - - The opinions...

nerdywasabi

NSE:SBILIFE closed last week with bullish engulfing candle. If the price starts to travel and close above 1127, I would look for positional target of 1168 with small resistances in between placed at 1133, 1145. SL can be low of Fridays candle 1088 Is it a co-incidence that both HDFCLife and SBILife made bullish engulfing candles last week? May be some of the...

nerdywasabi

NSE:CHAMBLFERT closed last week with bearish marabozu candle. It's at a pivotal weekly support of 260.8. If the price moves below that and closes below 256 which is monthly support expect the stock to test 237 and 208 levels positionally. Short the stock in cash if you'd like and if you have the risk appetite then take an option trade cos any sideways action...

nerdywasabi

NSE:CNXMETAL index is looking weak on charts with multiple bearish formations in place. Referring to candlesticks, last week's close has come with 3 inside down candles. Though this candlestick pattern is not completely reliable, it suggests price making lower lows and the index is witnessing pressure! On last week's candle, it also formed a bearish marabozu...

nerdywasabi

NSE:NIFTY is looking weak on quarterly charts as its making bearish engulfing candle. I am going to look out for March 31st expiry and a close below these levels ( 17021 in Future and 17102 in spot ) will confirm the bearish engulfing close. If this happens, expect next 3 months also to be of sideways action with more consolidation and open to downside. Let's...

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NSE:ADANIPORTS is making bearish engulfing on weekly and that makes it a perfect short candidate for next week as long as it closes below 690 on todays weekly close. Also Fibonnaci shows retracement on downside and also getting rejected from trend line resistance. One can carry shorts with SL of 710. Expecting 638-640 levels on the downside. Let's see how...

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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...

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NSE:ITC is looking weak on daily and weekly charts. ADX just crossed 25 ( threshold that I consider ) for directional movement. The downside momentum can continue for targets mentioned on the chart as T1, T2 and T3. The conviction comes from simple price action setup ( weekly doji close and the current week candle closed below doji close ) and open interest...

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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...

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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...