After hitting ATH OF 32.7K it is facing resistance at the level, hitted the level thrice in due course trying to cross this band,.
This time RSI has given breakout, looking forward for index to give strong breakout.
Expecting this to happen after this week shakeout.
Hikal Weekly Chart:
Hikal looks good to me in the range of 260-280 with SL of 225.
this has favorable R/R on both mid & Long time frame.
initial target of 425 followed by 750.
Buying 150 nos in 3 parts.
Nifty Update: How to position?
My strategy for upcoming sessions.
Three Possible event to play out in coming sessions.
Bounce from approx 18.1k to 18k level, this level is
- 23.6% Fib retracement from the lows of June' 22 to fresh ATH.
- 50EMA of NIFTY, will act as supports
- High of Sept' 22 Top, will act as support.
Any bounce from...
Nifty Update: (Signs of Wave-3 commencement Target 19.8K-20K)
Last Month closing Bullish flag breakout on Monthly TF
Current month except a few trading days Nifty closed above 18.1K
Wave-1 completion: Triangle break down of September tops of 18.09K from the lows of 15.1k made in June
Wave-2 completion: Retracement of Wave -1 till 16.7k
Closing above high of...
Recently in good trend.
- It has reclaimed the tops of Jan 18 after seeing big dip in Covid times in Nov 21 and has given strong breakout above these highs. Breakout level 12k-12.2k.
- Retest done close to breakout level ~12.2k with rejection for going further down.
- With Stop level of 12k has good Risk to Reward for long opportunity
- Well poised...
Nifty IT Views:
Almost 30% correction from TOP of 39k.
IT sector has long term benefits due to digitization drive taken across globe.
Views: Long Position.
Currently taking multiple support at around 26K, this is previous year consolidation area
Current consolidation range between 26k to 30k.
+ve divergence in RSI.
To estimate down side,...
JKLAKSHMI JK Lakshmi Cement Ltd - Excellence results over the quarter
Let's see how chart will it performe. Need to cross 488 level to fly.
Q4FY22 Net Profit Of 184 cr
Q3FY22 Net Profit Of 64 cr
Q4FY22 EPS of 15.61
Q3FY22 EPS of 5.45
QOQ Net Profit Growth Of 187%
Available at a current pe of 10
A seen on weekly chart deepak has made a top at 3020 followed by a low of 2005, the next swing high was at 2690 making it a lower high.
So a till now a HH-HL-LH has been formed, also after making LH the prices has broke the trend line, now it will be interesting to watch how this will unfold whether new Lower low can be seen or it will broadly move in the range...
+ ve divergence is seen in RSI, does this indicate completion of correction?
A seen, leftover supply is still pending in zone of 740 to 790.
Price action is suggesting the same and it is facing resistance to cross 740 level.
around 710 could be favorable point for entry with stoploss of recent low made.