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nextgen

IDEA Cellular has been trading in down trend and trading in a bearish channel, although channel is wide enough, it seems to be approaching the channel resistance somewhere between 83-84 and it may reverse from there towards the channel support, but need to be cautious at 83 as trend may change from this level by breakout upside. there is limited upside but falling...

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IDFC Bank after breaking up trend has been trading in bearish channel respecting support and resistance, it has touched the channel resistance and now heading towards the support of channel support and 50% fibo level which is around 64.00, traders may enter short slightly higher rate for better entry price.

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Nifty after retracing fibo 50% level recovered and showing signs of upside movement, it seem to heading the fibo 23% level around 8460-70 in near term. traders may go long in nifty and keep stop loss just below the trend line, if nifty breaks trend line exit with small stop loss.

nextgen

USDINR took a steep jump since bank notes ban and trading higher high, it is now trading on strong resistance and seem to go downward from this level, risky traders may enter short at CMP 68.50 and others may wait to break the inside bar or breakout downside.

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JPYINR the pair has been trading in down trend and approaching bearish channel resistance, it seem to go further upside up the resistance which is around 0.61770, traders may enter long in this pair at cmp with a target mentioned.

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Hindalco has been trading in uptrend and trading in short term channel respecting support and resistance it seems to be approaching the channel support around 160-163. traders may enter short this stock at open with a target of 160.

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Coal India has been trading in down trend, there have been some false break but it entered into bearish channel and trading respecting support and resistance. it seems to touch channel resistance up to 316 and may reverse touching resistance and approach to support somewhere between 298-300.

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Kotak Mahidnra Bank after breaking the up trend turned bearish but it closed on the edge of falling wedge resistance. it seems, it may breakout upward direction as it has also retraced 38% of fibo level so two combined analysis signs the potential upside movement. traders may enter long only after the breakout upside of it may further retest the support 738 before...

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As ITC has been trading in down trend and trading in lower low fashion, it closed at 23% fibo level, It seems it may see upside movement up to 50% fibo level and from this level we may see further down trend up the long term support somewhere between 212-210. trader may enter long if tomorrow open in green with target of 240-243.

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Exide Industries has been trading in bearish channel in my previous analysis I advised to go long up the channel resistance which it has almost touched, now it is trading at the edge of channel resistance and may reverse from here, traders may enter short somewhere between 178-179 with a target of around 162-160 which is strong support also 50% fibo level. it is...

nextgen Updated 

Sun Pharma has been trading in down trend and trading in bearish channel respecting support and resistance although it fell sharply by making false break and again entered into the channel. It closed today on the edge of channel resistance but unable to make breakout, traders may wait to see the breakout and enter accordingly, if breakout occurs go long and if not...

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Nifty has been trading under pressure and unable to make breakout upside, as in my yesterday analysis nifty not showing enough strength for upside movement and it may continue downtrend with a target of 7917 in near term, traders may wait for breakout, if breakout doesn't occurs it will trade further down or if breakout occurs upside then new trend may set.

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Hindustan Unilever has been trading in down trend and trading in bearish channel respecting support and resistance. it closed last week touching channel resistance and it seems to reverse towards channel support up to 792.00, traders may go short in Hindustan Unilever and enter at CMP with small stop loss if breakout occurs upside but chances are thin to go upward.

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Indusind Bank after breaking uptrend journey fell sharply and slid further downward. it has already touched the support and retraced almost 50% of fibo level. As bank nifty closed in green last week and shown signs of upside movement, Indusind bank is also trading at edge of falling wedge resistance and any time breakout upside may occurred and it will target 1145...

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Bank Nifty has been trading in down trend and trading in bearish channel respecting support and resistance, It closed last week with positive sign. It seems bank nifty may trade in upside movement up to the bearish channel resistance somewhere between 19100-19120 in near term. traders may enter long in bank nifty on retest of the support or near the support (buy...

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Nifty has been trading in down trend and has been under pressure for since bank notes ban. Nifty last week closed in green showing signs of some strength upside. Now where nifty will head?, it seems nifty has little a upside space, as there is bearish channel resistance which is nifty approaching also fibo 38% level which might not seem to break. Nifty may have...

nextgen Updated 

Nifty has been trading exactly on the falling wedge resistance since starting of the week, and today according to my previous analysis it has not been able to make breakout and further slid towards the target. Nifty tomorrow seems to finish weekend with red. It is advisable as Nifty has been trading on edge of resistance and any time breakout may occur so wait...

nextgen Updated 

Bank Nifty has been trading in bearish channel since start of the week, as in my previous analysis bank nifty target hit today and bank nifty closed just inside the trend line support making small false break. It seems it retested the support today but didn't make breakout which signs a long entry, Bank nifty may go upward direction from tomorrow and also start...