pratik.p2

pratik.p2

short term buy

pratik.p2

Target: 259 SL: 287

pratik.p2

Has broken down from the channel

pratik.p2

Downturn trend resumed in the direction of primary trend. RSI falling from the peak.

pratik.p2

Near term supports broken. Nifty likely to resume the primary trend (the downtrend)

pratik.p2

MGL seems to have formed a double top and will likely fall another 60 rs.

pratik.p2

The nifty wedge has broken and we can see potential downside to 8000 levels.

pratik.p2

Bullish case scenario for Nifty

pratik.p2

Immediate resistance and support are around 1000 and 870. Buy around 870 and sell around 1000.

pratik.p2

With triangle formation, hammer candle stick formation and bouncing back form fibonacci retracement level, think nifty will continue the downturn.

pratik.p2

After breaking out from a falling channel, we should see a reversal in stock price. MACD also says the same.

pratik.p2 Updated 

We are seeing the price is getting bounced from the lower end of the cloud. The first happened on May 03 and second occurred on May 11th. Though the cross over of blue line over the red suggests mild bullishness but it can be negated given the occurrence is below the cloud.If the blue line cross the red on the downtrend, it will be a strong short sell signal....