praveshk2

praveshk2

If it had to bounce this was the perfect level 08.00Rs as per fib golden level 0.618, also it had taken support on same level 3 times , if it breaks this level it will be weak enough to touch approx. 6.00 rs level which is also a bottom of highlighted channel in light yellow, however it is a good sign to bounce from the same level where it took support 3 times,...

praveshk2

Now it's sugar stocks looking weak, time to hedge position with call writing, currently on support of ema20 bt as per rising wedge breakdown getting target around 200 round figure(specific 192.95).where it meets ema 200 and gets ready for next bounce.

praveshk2

Just compare rsi support line n price chart you will find whenever it broke ema 20 there was a rsi trendline support at bottom and it bounced from there, however now things seems changed, rsi already broke down of its support trendline, n stock is at to break ema20, it will test ema50 + its channel bottom +trendline from may2014.

praveshk2

If it breaks 2500 level, can see 2300 coming nextwhere it finds its ema20,which is a very good point to bounce, also abest entry to buy however can start SIP on each falling level as anytime on monthly if it closes above 2800 also breaks red channel shown in chart then Reliance can see 4000 level as per blue channel level target.

praveshk2

forming a rising wedge, if breakdown its level likely to come post Covid recovery level, there is a huge divergence as well , which will resolve if it comes back to 1300 level , which is approx. 50% of wedge's breakdown target. Also seems 5th of 5th Elliot wave pattern.

praveshk2

164.60 is major resistance of exxaro, yesterday it broke out EMA50 and EMA20 , and today took support of EMA 20 facing resistance at 153.40, if brake that can see a quick momentum in coming few days and can reach 164 level easily as its 1st target.

praveshk2

1792 would be an important level for infy to breakout, continuously 3 days it tried t break that level, once its broken and infy takes support of that level , can see a good rally in it. however on down side can seek its 1st support at 1763 and then 1729 if unable to break.

praveshk2

It was moving downwards relatively as per Fib retracement, however today it took reversal from its bottom, but to get power it needs to close above EMA20, may see 1st target upwards around 325, in case it breakdown due to market movement may seek support on trendline from 16th aug 2021

praveshk2

Cartrade broken it bottom level as per Fib retracement and now next bottom as per chart should be around 804.

praveshk2

About to break Dec2017- Jan2018 level, need to close above 12030- 12050 on at least weekly chart, good to go will be if closes above its level 12030 on monthly chart too, can seek its immediate support at 11083 if falls in order to bounce back.

praveshk2

Bank nifty moved downwards since oct last , however now it has reached to its support level of Jan 2008 - 38185, if we check Daily chart today bank nifty took support of the same and made a green candle, seeking upward trend now, however tomorrow is weekly expiry so need to observe tomorrow's data too, next immediate support can be 37708.

praveshk2

17583-17610 have been a support since Nifty50 touched it and bounced back, can see a pattern as nifty is slowly moving upwards within a channel, Friday or next week will be interesting to observe once nifty break 18162 and convert that into support in following weeks.

praveshk2

It was perfectly moving within a channel as per chart now it had a breakout of trendline 10May21, Now perfect entry would be when it retests it level from trendline of May21, and bounce back earlier 29 Oct could be the first entry when candle took support of 1026, second entry could be 11onv day end or 12 nov when broken its level of 1217 on 11 nov and retested the same.

praveshk2

Currently taking support of trendline from Aug 2015, on monthly chart, need to close above 182-189 and above trend line from feb18 for a good buy option.

praveshk2

Taking trendline support from Jul21, facing resistance at 753, once broken 753 can see a good rally in it. as above EMA20 and RSI above 60 , can see a good momentum once 753 is broken.

praveshk2

Currently taking support of level 7352- 7527 also a trendline from apr21 is working as a support, once 7630 is broken can expect 1st target of 7867, following 8050.

praveshk2

Currently taking support of EMA50, but for a rally need to close above EMA20, as seen in chart it taking support of trendline from Nov20, also 891.45 working great as support, can reach easily to 978 once 950 is crossed.

praveshk2 Updated 

Current Resistance of 153, can see a good rally above 155 level, currently far from EMA20/50 ,and RSI downwards from 68, after Q2 results, can seek support of 144 downwards.