Its nice time to go long on Ambuja Cements with target of 260 and stoploss of 238, if it closes above 50 DEMA today. Volumes are going to be a tad higher than 10 day average. Risk Reward ratio isnt bad either.
Adani ports has made a base near resistance with great patience in last few trading sessions. Now,it has taken off from the base with higher than average volume. Breakout is unlikely to be false one. Risk takers can go long now, others can wait for confirmation.
Sun Pharma, like its pharma-peers have rarely disappointed bears when short at temporary pull back. This another pullback seems to have ended at 38.2 % Fibonacci retracement and 20 DEMA.
Stop loss - 547
Target 1 - 500
If it makes new low then just ride the trend.
NSE:KTKBANK has taken support of 20 DEMA + rising trend line + 172 level which has acted as strong support and resistance in recent past. Stock has been very bullish.
Now it is forming the bullish marubuzo candle.
It may be worthwhile to enter now with stop of 173 and first target of 180. If 180 is crossed then ride the trend.
Yes bank seems to be falling from crucial Fibonacci level range of .50 - .618
Formed Bearish Marubuzo, Volumes are nearly twice the daily range. Throughout the day, fall has been consistent, as if bulls have completely surrendered to bears.
It seems that short term pull back/ retracement is over and stock is again in bearish mode.
One can go short at around 1450...
Since late April Reliance is trading in a range which is getting even narrower. Today range became extremely narrow and there is possibility of upside breakout due to following factors:
1. Bullish Marubuzo at impressive volumes. Volumes are already more than 2.5 times of past 10 day average.
2. Stock has just risen from short term resistance forming at rising...
Confluence of following factors makes TCS a compelling sell.
1. Bearish Engulfing pattern near long term resistance level.
2. Volumes are a tad more than 10 day average volume, will be much higher as the trading day ends.
3. RSI at peak was nearing 75, means TCS was quite overbought.
4. Negative media commentary by INFY executive on IT business outlook.