Andhra Bank shows start of a long term uptrend after reversal confirmation. Awaiting the results on 6th August, taking a bullish position with mentioned marks could be positive.
Asian Paints, Weekly Chart. ABCD Pattern completed, PRZ @ 1150/1200 Area. Strong Support @ 888 & 725
Nifty Index Day Chart: If it is not a big event day like GST Bill, It is a short zone here with good R:R ratio. Unfortulantely we can't take risk here now.
Polaris may bounce from 166 Levels. Watch for price action/ Divergence in Indicators @ 166 Levels. If Holds 1 can go long with target of 198. (All fibo Levels)
Jain Irrigation is trading between the levels of 68-76. Any breakout outside these levels will start a new trend, hence position building would be preferred after that event. As of now, since the price is in a trading range, buying at lower band (around 68) and selling at higher (around 76) would be appropriate.
BankNifty is staring at a double top breakdown and is trading below significant long term moving averages on hourly charts. Option 1 is to initiate a short here with stops above 19000 levels or to wait for a breakdown of 18500. Downside targets can be 18150 levels
NSE:CANTABIL may be destined for a short term downtrend. Lower RSI levels would act as a fuel if more red candles are formed in couple of days.
NSE:HDFCBANK The impulse that started in early February is nearing completion. We are already seeing signs of RSI divergence on daily charts. More importantly, it is also completing 5 wave cycle, as seen on this weekly chart. Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.
Compared to the previous year, 2016 has been a pretty good year for stock traders and investors as well. The year began on the backdrop of a huge correction of the Nifty in 2015 (-1600 points from the high) after a fantastic uptrend in 2014 (+ 2000 points YOY). The 1st two months of 2016 saw the markets reach new lows and a majority of stocks went on to touch...
NSE:HDIL Buy on Dips between 75-90. Expect a minimum 200+ by early next year. Hope the wave count is self explanatory
As per our previous post NIFTY reached our resistance level of 8650 level. From this point we can expect consolidated upside for next 45 days. For august Month Downside we can expect 8400 and upside also limited 8750.
Hcl Tech Seems Bottomed out. 3 White (Japan) Soldiers in candle pattern (Marked Rectangle). One can buy at channel breakout above 780+ if Volume supports. RSI now at 54.
Stock forming new low, supported by low RSI and BB lower band.
Patel Engg may fall further from current levels. RSI and BB confirm the ongoing downtrend.
Hi All, Its just couple of trendlines drawn over the highs & lows..nothing fancy here. SBIN is ranging for past few days so we are expecting breakout(expansion) soon, so whichever the direction breakout happens enter with proper stops. Being expiry day today it may give false breakout so be stingy about your stops.The same setup is forming in SBIN hourly...
After today's strong breakout at 420 levels and managing to close above that levels provide us a strong bullish signal on its price action. I believe now the price action will move towards the next resistance levels in next few weeks. It is a good time to enter with the reward risk ratio of 1:3 Target 1: 452 Target 2: 470 SL 1: 400
NSE:BANKNIFTY Bank nifty is facing strong resistance at the midline of long term channel. Also, most private banks are close to completing their long term tops. Read here:https://www.tradingview.com/chart/HDFCBANK/IozqHcfE-HDFC-Bank-Approaching-Long-term-top/ We might see some retracement towards 18900 levels early next week, which should be a good level for...