retirewithrohit

retirewithrohit

Ujjivan Small Finance Bank has crossed its resistance trendline. Considering the fundamentals, the bank may struggle in mid term but a uptrend following the breakout is very likely in the near future. Monthly Stochastic RSI also suggests that the stock is oversold right now, which indicates a reversal in a few months.

retirewithrohit

ICICI bank has had a really good year, outperforming its rivals with 31.1% Returns in last 1 year while its main competitor HDFC sits at 13.9%. ICICI Bank is already trading slightly above its 3 Year Median PE. All this points that a breakout from ICICI's current parallel channel is very less likely, and the bank is going to continue to stay in this channel...

retirewithrohit

Nifty 50 index has formed an inverse head and shoulder pattern. Its not a perfect pattern, but it meets most of the criteria to be considered an inverse head and shoulder, the second shoulder is a little shorter. But the Stochastic RSI indicator suggests, that the Nifty is in oversold zone on the daily charts, this could mean a downfall in the short term....