raj_rishav

raj_rishav Updated 

SBIN closed just below the support at 188 after testing it for greater parts of the trading session today. BANK NIFTY also closed higher than previous weeks but could not break the resistance, which is why the stock's upward movement was arrested. The overall view is bullish with Elliot Triangle wave pattern for a bullish market as shown on chart. Holding...

raj_rishav Updated 

Buy above 1015 for 1025, 35, 50 Sell below 990 for 975 and 960. In case of gap-up openings above 1010 levels, do not initiate long trades without verifying the up-trend and breakout. Similarly in case of gap down below 1000, do not initiate short trades.

raj_rishav Updated 

Go long above 1015 for 1035, 1050 & beyond with SL at 990

raj_rishav Updated 

The stock came back up and closed at the 0.618 level last week after briefly testing below. Momentum is bullish. Buy above 50 for targets of 52, 53, 54 with SL at 48.5

raj_rishav Updated 

The stock made bearish engulfing pattern from the 0.786 levels and seems bearish to retrace to the stronger 0.618 level of 265. Choose an entry position based on your risk appetite. Strategy 1: 'High-er' Risk & High RRR In-case of normal or gap-up opening, Short for 270, 267, & 265 with SL at 278. (Can wait for any small uptrend with the risk of losing out on...

raj_rishav Updated 

SBI is in a doji zone right now. The Price Action levels have been marked on chart. The stock is bullish above 188 for targets of 194, 197 and beyond. The stock is bearish below 184 for falling to the levels of 178 if not beyond. The 184 - 188 region is open for scalping. There is a hidden bearish divergence as can be seen on the graph. A lot will also depend on...

raj_rishav Updated 

Federal bank has taken support from the trend line shown and is sitting almost on it now. The stock is showing a hint of bearish divergence which has been confirmed with the 2 downward movements on Thursday and Friday. It could very well have served the function of consolidation for large volume buying happening during the uptrend. 52 is a key level to watch for...

raj_rishav Updated 

ONGC has set up a value area last week between the 0.786 and 0.618 Fib Retracement levels with a value price of 84. The stock made a doji inside the lower part of the value area on Friday which was in line with overall NIFTY movement. Positional Ideas: Go Long above 84 for 86 Short below 80.5 for 78, 77, 76 Scalp between 81 and 84 levels Don't take positional...

raj_rishav Updated 

LT is back in the price action value area as I had discussed in one of the earlier posts. It has also taken support from the trend line as indicated in another post and the sentiment remains bullish for it to cross 1000. The ban on Chinese firms in different infrastructure sectors should definitely help the move up. The stock closed the week at its value price of...

raj_rishav Updated 

Ideal Long Candidate! Buy near 1000 for Targets of 1025 with SL at 990.

raj_rishav Updated 

Short below 558, for 550, 540 with SL at 568

raj_rishav Updated 

Short below 81 for targets of 79 with SL at 82 Long above 82 for 84 with SL at 81 Follow ORB on 15 min candle to establish trend.

raj_rishav Updated 

LT was already on its trend line support ready to breakout. The latest announcement would definitely catalyse it. Buy Buy Buy Key levels marked on chart.

raj_rishav Updated 

ITC, as predicted in the last 2 posts on ITC (linked below) is trading in a value area. Today, it made a huge bullish marubuzo traversing the range of value area and closed just below the resistance of 203. However it did so with lot less volume when compared with its past breakout; which is primarily why I don't see it sustaining the bullish behaviour. The...

raj_rishav Updated 

NTPC breached a major support of 93 and is currently lurking around at the level. If it closes below 93. Short for 91 and 90 tomorrow. In case of Gap down opening around 91 levels, Long from the targets mentioned above for 93 and beyond

raj_rishav Updated 

Buy on Rebound if 5 minute candle closes above 926 for 930, and 940 with SL at 920

raj_rishav Updated 

The stock closed breaking a very critical support level of 990 and closed at 983. It has been on a clear bearish trend over last few days making a bearish marubuzo candle today. However, it has rebounded off this level in the past as well. Postional Ideas for tomorrow: Below: 978 - Short for targets of 970, 960 and 950 with SL at 988; can trail SL after T1 Above...

raj_rishav Updated 

SBIN saw some expected corrections after the last breakout (as predicted in the divergence idea); rather large corrections primarily due to June option expiration. It is currently moving inside the value area and took support near the long term support level of 184.5. However, the overall price movement remains bullish. Its always easy to fit in Elliot waves and...