10k is a matter of time.
With the inflation finally raising its head, thanks to the US, monetary steroid stimulus has run out of its power.
The downward curve is inevitable
NIFTY perfectly bounced back from 16250 just like we discussed yesterday. NIFTY has to try breaking 16500 now, with good volumes to see Upside towards 16640 levels.
On downside, today's low can become a good Support at 16250 level
An interesting observation here...
The weekly chart for INDY has recent bullish candlestick patterns after bouncing off a long term support level at 41.50. This is the second test in 2022, and the bounce closed above the next (gap) resistance level, above 43. The technical indicators are turning bullish, as RPM tuned up for a crossover.
The daily chart shows...
Three possibilities for Nifty in coming week or weeks
a. At crucial support level, Formed Double Bottom.
b. Rangebound in the range of 15700-16400 since last 10Days, might continue.
c. If this support is compromised then major fall can come, Might end up forming a Bear Flag.
Comment your thoughts and analysis.
Nifty finally breached 7 months old downside channel towards south which indicates more furious sell-off in coming weeks. Since last few weeks, 15900 was acting as a strong support on the indices but on Friday we have closed below the support indicating more weakness. So were would this carnage end for the bulls? The market always of probabilities in answer and so...
Last week came like a brain freeze for traders where we saw tremendous volatility on both side but ultimately bears got the final hold. In my last two posts on #Nifty, we predicted a correct Wave C to unfold and that what exactly happen in last week. We are moving towards a near term target of 16100 on indices. But next week is crucial because we MIGHT test 15900...
Final short target of 50,000 looking doubtful.
- Market looking strong and investors are not fleeing like other markets.
- Possible Regular or Expanded Flat Correction
- Bullish India but still neutral over the coming weeks and hopeful my target is reached.
Best,
Hard Forky
Bank Nifty has been also working in line with Nifty around 200 day SMA but interesting part on this was that it has been completely below the average for last 10 trading sessions. Strong earnings on ICICI Bank and Axis Bank didn't lead up the sector which shows that how strongly 200 day SMA is working as resistance. Now analyzing further move with Elliot wave then...
Nifty has been around in a range since last 10 trading sessions but during that it has respected 200 day average perfectly around 17200 level. It has closed at or below 200 day average for 9 sessions out of last 10 . For a technical breakout , its a guideline that we should sustain for two consecutive days on closing basis above breakout level for a confirmation...
Nifty seems to crash in coming days are we near the inflation from now !! Seems like some big move in the market in coming days be ready !! Pack the bags or Pack your bags !!! 16800 shall be major support
What will be NIFTY Move, Nifty formed Inverted Head and Shoulders (Shoulders Not formed yet) will it form ? Or Break ?
My prediction
If NIFTY goes last Weekly candles low then nifty will fall more. If NIFTY crosses Last week High then NIFTY will go up
Nifty had been trading in a dream rally since the low at 15600 in Feb but now it seems near term high has been pinned at 18114. There are many technical factors supporting the view that we may play short from tomorrow. Firstly, Nifty has resisted exactly at larger degree channel line which is intact since the life at 18604 Secondly, Nifty has breached down...
Company is almost debt-free.
Company is expected to give a good quarter
Company has a good return on equity (ROE) track record: 3 Years ROE 51.80%
Company has been maintaining a healthy dividend payout of 76.95%
ABOUT
Castrol India Ltd is principally engaged in the business of manufacturing & marketing of automotive and industrial lubricants and related...
