Reliance, INDIABULLS HOUSING, YES BANK, STATE BK OF INDIA, HDFC BANK, TATA STEEL LTD
Nifty, BSE SENSEX, S&P 500, Nasdaq Composite, FTSE 100, DAX Index
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
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NIFTY seems to be forming a head and shoulder type of distribution pattern at range top around 12000 levels. Considering the strong positive sentiments dominating the market it may not be wise to try a short trade. On the contrary 12000 expected to act as a strong psychological barrier, over leveraged long positions at top ; any disappointment in the monthly high...
The BANKNIFTY index seems to be finding support by bouncing from the hourly trend-line. It's good to try a long trade with stop being a hourly close below the trend-line.
ICICI Bank is forming a possible bull flag continuation pattern on a 15 min time frame. The stock has given a strong breakout in daily charts forming a good case for the bullish bias. The bull flag if confirmed will lead to an upside target of about 398. Note- Level of 400 can be a tough round number resistance to break.
Explained in charts. Time frame is 15 mins , which is generally less relaible. Expiry day might create some volatility.
There is a breakout of bullish head & Shoulders on hourly basis. Stop should be below the head for a target of about 260.
Explained in charts. A hourly close below Neckline required for pattern to be valid. Stop loss should be above head level of 10780 on a hourly closing basis. Interestingly the short term bottom at 10200 , opens a possibility of bullish Head & Shoulders.
The Stock is in a long term downtrend. The pullback rally ended at 200 (Round Number), which is expected to act as key resistance in near term.
Corporate facing banks have been on a strong uptrend in recent days. The Short is against market consensus, so trade cautious using smaller quantity. Pattern valid only if price breaks below neckline on a hourly clb , with stop placed above 362 on a hourly clb.
A break and close above neckline would confirm the pattern. The target for the same will be 298 and stop will be below 240 on a closing basis.
A break and close above the neckline will result in a Inverted H&S target of 2765 with a stop below 2600.