revanthchalamalasetty

revanthchalamalasetty

Nifty seems to just do breakout and retest from the downtrend since the previous 18600 top. We did a 78.2% retracement of the recent rally(trend channel). Risk-Reward is in favor of longs here! However, the we need a close above 17600 for confirmation.

revanthchalamalasetty

nifty broke the channel support and came back up. sell at the top end of the channel with previous high as stoploss

revanthchalamalasetty Updated 

after the fantastic budget rally, nifty took support at the trend as shown in the chart on Friday. levels to watch for if friday low breaks 14730 = fib 38.2% retracement of the post-budget rally, good pivot support if 14730 breaks 14513 = 50% retracement, pivot support, breakaway gap support if 14513 breaks, 14296 = 61.8% retracement, gap filling, very good...

revanthchalamalasetty Updated 

has the nifty topped out? No one seems to worry about a crash nowadays? Technicals: RSI divergence can be seen on the weekly chart. Also nifty facing channel resistance. Psychology: At this moment no one is expecting a crash. Leave crash aside, no one is even expecting a correction. Consolidation in the 14950 - 15250 zone and a rally is what people are...

revanthchalamalasetty Updated 

Both USDINR and DXY have been trending downwards since March and finally USDINR has made a base at 72.7. It has already started showing strength in and is forming an upward channel. It is likely to test the upper end of the channel by end of this expiry. Target of 74.5 by end of this month. Stop loss daily close below 72.25. It can still go higher if the...

revanthchalamalasetty Updated 

Bharti seems to be finally breaking out of the 500-520 range. The next resistance zone is 545-570. 570 will be very interesting to watch since if Bharti starts to fall from there, it might create a long term head and shoulders pattern and fall back below 400 easily. With the payments bank news around the corner, it can go both ways. I'm staying long, for now,...

revanthchalamalasetty Updated 

Enter after previous swing high of 37.2 breaks with stop loss around 36.5 and immediate target of 42

revanthchalamalasetty Updated 

Gold after a top in 2011, fell sharply and bottomed out in 2016. It traded in a range from 2013-2019 and broke out in the second half of 2019 started a trending move upwards. Though it fell sharply during the covid crash, it started moving up immediately showing strength but got a little overstretched and retraced 50% from the March low to the high. Now the price...

revanthchalamalasetty Updated 

A short term pullback or a breakout is possible. The longer-term bullish trend is still intact.

revanthchalamalasetty Updated 

Formed a triangle on its way down. will have to wait for a few more days to confirm.

revanthchalamalasetty

Sun pharma at the resistance zone. Even if it breaks out, the next big resistance is at 640-650 zone. The stock gave a good move in November and December and is consolidating and trying to break the long-term trend. The idea is to do a ratio spread by buying 1 lot 640CE and selling 2 lots 650CE. The trade can be managed by selling puts if the stock breaks out....

revanthchalamalasetty

Reliance trying to break the trend line on upside. However, if it fails to break, we can go short. Go long above 2020. Go short below 1960

revanthchalamalasetty Updated 

12400 still looks entirely possible by end of December. A pullback is definitely on the cards.