sabyasachi_nath

sabyasachi_nath

Elliot wave impulse (1-2-3-4-5) and correction wave (A-B-C) is complete. Entry at this level is envisaged with a support around 760. First target is 1080 and intermediate target is 2080. Long term target will be 4200 or above.

sabyasachi_nath

Support is around 4850 level. Golden crossover may occur in a short while. Once this occurs, target will be at the minimum of 6000. Time frame: 6 to 9 months.

sabyasachi_nath

1. The scrip has come out of the influence of the Gann descending Fan shadow formed due to the top made on 19th Oct 2021 at 5145 by end of July 2023 and is now free from its bearish influence 2. Golden cross over (200 SMA X 50 SMA) happened in early March '23 at price band of 3200 would have been a vantage entry point. True to its promise it has already made a...

sabyasachi_nath

Just stopped at 4/1 descending resistance line. If now it is crossed and golden cross over takes place, in intermediate term 525 can be the target.

sabyasachi_nath

It has got all the ingredients for good up move. It has made golden cross over at 37, out of the strongest bearish shadow formed due to the previous high and has crossed the strongest ascending resistance line which has turned into a strong support. Hold on with a support at 44.

sabyasachi_nath

On Thursday IRFC crossed the long-term 1X1 line with good volume implying bullishness and on Friday it tried to cross the short-term bullish 1 x 3 line. Now it is on the verge of crossing 1 x 3 line which possibly may occur on Monday. If it is able to remain bullish for a couple of days the next target could be 56 in this month

sabyasachi_nath

Bigbloc is treading above bullish 1/1 line consistently implying overall bullishness. Support is seen around 140 level and if it sustains bullishness we can have a target of about 280 over medium term.

sabyasachi_nath

EIL bounced from the 2/1 resistance line and if it can cross 160-165 range and remains above 2/1 line for a couple of days, it will break out. Downside will be limited to 120-125 level.

sabyasachi_nath

Another golden cross over (happened in June end) scrip with a support around 750 and may go up to 850 by mid October '23

sabyasachi_nath

Intellect Design has seen a golden cross over in mid June 2022 and is considered to be bullish. Presently it is plying around 1/1 support line from its recent bottom. Current support is at 650 and deep support at 607 while the resistance points are at 725 and 845.

sabyasachi_nath

Gabriel India seems to have touched upper ceiling of the channel shown in the chart. Unless it breaks the channel, there are chances that it will go down to say, 210 level where it will find 2/1 angle support. There is a deep support at the bottom of the channel at 165, which not likely to be seen. 150/ 200 sma have touched now and the stock is likely to see some...

sabyasachi_nath

Nifty has a support around 16500 that has been formed due to the support angle drawn from the bottom that had formed in Nifty in 2008. This is a weekly chart and the new bottom should hover around 16500, say 16300-16700.

sabyasachi_nath Updated 

In the last 15 odd days Rico Auto has shown a strong uptrend by staying above a strong descending resistance angle. The next important resistance level comes at 80 level and if the momentum remains bullish we may see that level between the first week and the second week of January '23. That will be +30% from the present level. Progressive support level range is 55 to 49.

sabyasachi_nath Updated 

Coffeeday is likely to move up in short term. There is a strong resistance at 73 when it meets the strongest 8/1 descending resistance line in the first week of November '22. The strongest support for the scrip is formed due to the ascending 1/8 support line at 41.40 by 15th September '22.

sabyasachi_nath

Today Nifty has a support at 17589 and resistance at 17710.

sabyasachi_nath Updated 

Nifty is likely to remain rangebound till 24th of August with an upper limit of 17750. On and beyond 24th August, Nifty has a chance of crossing 17720, when we may again see a break out. If it remains in consolidation, there are many supports in between. However, the strongest of the support for the year will be 14,450, a bottom, which we may see by early November 2022.

sabyasachi_nath

If red descending line crossing at 6850 is sustained EOD, we may consider Bajaj Finance to have broken out.

sabyasachi_nath Updated 

Currently Nifty is approaching the strongest descending 8/1 resistance line formed due to the top that was formed on 4th.April 2022. The opportunity of piercing that line could come on 28th July '22 at 16722.8, where there is a cross over of the said descending line and a strong ascending 2/1 support line formed due to the bottom formed on 17th June 2022.