sabyasachi_nath

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.

sabyasachi_nath

Could be a good entry point at CMP and it is expected to hold 702, where there is a support.

sabyasachi_nath

It may hold 223 in this down move, 205 is a strong support. Near term target 275, likely to give great returns in the long term

sabyasachi_nath

Closing above 1428 will confirm break out from channel and establishment of support at the 1400 support line.

sabyasachi_nath

On the back of the positive sentiment prevailing for the counter, Tejas will have a target of 550 in a few weeks. If 552 is also crossed on a closing basis and the counter remains bullish, it will be in unchartered territory.

sabyasachi_nath

Could be the descending triangle break-out point. On Balance Volume also seems to confirm the same.

sabyasachi_nath

Wedge broken, 1/1 descending resistance line has been broken out. Closing above 515 and remaining bullish, we may see a level of 650 in intermediate term. Support at 495.

sabyasachi_nath

If HEG closes above 1425 today, next week's resistance will be 1450. Clearing 1450 and sustaining the level will pave way for a breakout. We will see what happens by the March end.

sabyasachi_nath

ITC is showing consistent bullishness. If it can cross 275 by the 3rd week of May, break out may take it to its ATH level in the medium term.

sabyasachi_nath

There is a possibility of Nifty visiting 15400 by 14th March, else 15500 by March-end.

sabyasachi_nath

Nifty closing at 16245.35 puts a lot of pressure on its recovery to 16500, a support level. A down move to 15500 or near about can not be ruled out now unless a quick recovery to 16500 is attained.

sabyasachi_nath Updated 

If 16475 is recouped today, then the downfall is likely to be arrested. Else, we are heading for 15500 by the March-end.