As I have mentioned in my previous post, Nifty has almost reached the first target I mentioned. I mentioned the first target is 8092, today Nifty reached 8095. According to Dow's theory, line formation indicates movement. If it takes long time in forming line, the movement will be very strong. If you have short Nifty at 8130, use trail stop. Targets are same....
After taking good support at the price 30 ZeeMedia is trending up inside the channel. Volume does not support the uptrend, showing weakness. We can short at the price 40 with stop loss 40.80. Target is 38.5. If the trend line is broken chances are there to fall till 31.5. Happy Trading! in.tradingview.com
Jet airways is landing down slowly and gradually. Unless it forms a double bottom at 338, it will fall further. As of now it is trending in channel. If the price can not sustain above 366 we can go short at the price 363 with stoploss of 367. Targets are 358 and 353. Happy Trading! in.tradingview.com
After facing strong resistance at 190, torrent power has broken the trend line for the second time. Price closed below the trend line showing further weakness. If the price can not go above 183, we can go short at the price 180 with target 177,174 and 170 with stop loss at 183. Happy Trading! in.tradingview.com
TVSMOTOR is moving inside the channel. After taking support at 340 it is travelling inside the channel. We can go for short at the price 378 with stoploss 380. Targets are 370 and 365. Happy Trading!!! in.tradingview.com
Bank Nifty is gaining momentum slowly. When people started to stuff crores of currencies in banks, it decided to move within a channel. However twin tower gives us the clue that it is going to move downside. Bank nifty has resistance at 18750 and support at 18050. When Bank Nifty tests 18050 for second time and closes below it, we can go short. Target is 17100...
Cummins India is moving upwards irrespective of the market sentiments. Buy above 800 when it retests the trend line. Stoploss is 795. Targets are 840, 860 and 880. Happy Trading!!!!https://in.tradingview.com/chart/QtD56IkU/
You may be wondering what is nifty planning to do. Its very simple. Use simple trend lines. Nifty is warming up to make a journey towards 7923. Sell below 8130. Targets are 8092, 8066, 8012, 7954 and 7923. Stoploss 8175. Tighten your seat belt and take a in.tradingview.com with Nifty. Happy Trading!!!