DhruvDeora

DhruvDeora Updated 

Olectra has finally given a good up move with volume after decent correction and consolidation. The chart suggests this could be a double bottom breakout as well and today's strong closing could add to that point. It has taken out an important resistance of 1280 with RSI comfortably above 60. I expect it to touch levels near its last ATH, which is 1465, however...

DhruvDeora Updated 

Nifty has given a good rally after retesting 18800, and is now approaching overhead resistances. With 50 EMA, 0.618 Level and around 19500, nifty seems to be at a congestion zone where it should consolidate for a couple of days. FED chairman Powell is expected to speak twice this week and should provide with enough triggers for the market to decide the...

DhruvDeora Updated 

Adani Enterprises (ADANIENT) has shown good recovery and has been in long consolidation since its last burst in May 2023 when Supreme Court granted SEBI Time for investigation. It has taken a strong support at 2370 -2400 and today it has made a doji right at its support to suggest a reversal. While it is waiting for the next date in Supreme Court, there is an...

DhruvDeora Updated 

IRFC has shown a good move today after a healthy correction and looks set to resume its rally. After a brief fall, it has consolidated above the 0.618 levels with a hint of bearish sentiment. However, todays closing with good volumes makes it a good setup to go long with a good risk reward ratio. Keeping 1 ATR as SL. I would avoid to keep any target in this...

DhruvDeora Updated 

Hindustan Unilever (HINDUNILVR) has been underperforming against nifty since it took a hit on poor earnings. However, it now presents a low risk opportunity to go long on the stock. The stock has been trading in a broad range of 2440-2700 levels for over a year now and is getting ready to bounce again from the lower level of the Range. The orange circles show the...

DhruvDeora Updated 

Nifty has shown good bounce after a heavy sell off. However, it has now taken resistance at 0.618 levels of 19,840. With results season kicking in, and another lukewarm IT season looming, Nifty seems to take a pause. With rising uncertainty in the Middle East and FOMC's strong hawkish stance (FOMC minutes will be out tonight), the index is likely to stay...

DhruvDeora Updated 

HBL Power offers a good setup in the extreme short term and has managed to hold on to key support levels despite global uncertainty and volatility. With the stock respecting the 0.618 levels and consolidating above it, it setups itself nicely to break its ATH and resume its momentum.

DhruvDeora Updated 

Nifty has been falling continuously after making new ATH above 20,000. As the market is digesting the rate pause and a hawkish FED, it has found support at a rising trend line. Nifty has formed a double doji in the Daily TF and has shown signs an upcoming bounce at the very least. RSI is showing a good divergence in 75 min TF. Further evidence lies in...