KOTAK BANK has formed a rounding top and broke down with good selling and closed below support . It has formed 5 NR candles today . Can go short below 1475 with stop loss of 1515 and targets to trendline support of 1420 .
IBULHSGFIN fell sharply today and now expected to fall further . It has formed an inside bar on the hourly . Can sell below 728 with stop loss 740 for targets of 707 and 670 .
Gave idea of YESBANK long few days back but it failed to hold a strong support level and has now retraced back and has formed an engulfing pattern . Can go short below 146 with a stop loss of 159 for targets to next weekly support level of 135 and then 120 .
COALINDIA gapped up above a resistance level but closed below with sharp selling . Can go short below 252 with stop loss of 263 and targets to next support level of 244 / 232 .
BITCOIN has formed a rounding top on hourly and broke the neckline with good volume . Now is retracing the the neckline . Can go short at CMP with stop loss of 7,550 and target of support of 7000 .
As discussed last week , when everybody saying out loud to short YES BANK, that's when the time is to introspect. After sharp selling last week , accumulation can be seen this week on good volume and today has formed an engulfing pattern on 2015 support levels . Can buy above 173 and stop loss of 156 for target of 218 in coming 2 -3 months . Follow me on...
TATAMOTORS is moving in a channel and has formed two narrow range bar on hourly . Can go short below 174.8 and stop loss 180 for target of 165.
Target : 2710 Sell Below : 2787 Stop loss : 2840 After panic in pharma sector today , more selling can be seen tomorrow . DRREDDY has broken from a support and has formed an inside doji on hourly. Can sell below 2787 for targets of 2787 in coming days. Can sell on rise as long as doesnt go over 2850 . Follow me on twitter @piyushrawtani for live ideas and other...
Bank Nifty has formed a double top on daily and with two days of sharp selling , high chances of going down further to test the 61.8 % pullback to the support zone . Can go short on rises or at CMP with stop loss of 30,800 . Targets of 28,400.
Shared Bank nifty few days back as it might test support level of 28,400 . TGT about to achieve . Sharp selling can be seen and it formed a head and shoulders pattern and broke the neckline , retested and now falling more . If it falls below 28,400 , next target can be 27,700 which is next support level and measured move of approx height of the H & S pattern .
Last week shared reliance idea which moved as expected , now it has fallen much and after forming a double top has broken the line with good selling , one can go short on pullback to 1300- 1320 levels . Might expect to test the weekly bullish trendline which is at 1200 levels.
Discussed last week as to how jet might be in accumulation stage on a 10 year support level . If the business is shut down ,why is it not going to zero ? High chances of a bounce back if in talks with other airlines , only time will tell . Can go long above 150+ with stop loss of 120 and for targets of 200 .
RELIANCE has formed a text book evening star at a resistance level . Can go short below 1376 with stop loss of 1420 . And target of 1325 .
Fundamentally zero RELINFRA has been going down and has formed a rounding top after and has formed an inside bar on daily. Can go short at 108 for a target of 100 and stop loss of 116. Once it breaks 100 , can go lower and finally in few months to zero .
UJJIVAN has been moving in an upward channel , broke below and reversed quickly and bounced on support level. Can go long at CMP with stop loss of 310 and target of 350 .
BATAINDIA is moving in an upward channel and formed a small double top on hourly and broke down the neckline , expected to touch the bottom of the trendline . Can go short at CMP with stop loss of 1475 and target of 1420 .
TATASTEEL has formed a rounding top and broke out below with good selling . Can go short on pullback or at CMP with stop loss of 535 . Targets for next support level of 510
WIPRO has formed a double top and a bearish engulfing followed by an inside bar on daily. Can go short below the last candle for targets mentioned at neckline of double top and next target at long term support level . Stop loss above the high of double top .