So the range has been broken today. International cues have been in support. Now below 15 DMA Nifty may take support at 50 DMA as it did twice in the recent past. We should take a call then. Bulls have shifted their position at 10600 Puts from 10700 Puts. So 10600 is the new support zone as per OI table. Bears have increased their position at 11000 Calls with the...
Seems worse is over in Pharma sector. This was a star till 2016. Manipulated FDA warnings pulled down the lot in Pharma. Bottoms are reached it seems.
Breakout and now 1311-16 is the challenge. A pullback towards 1212-20 will give an opportunity to renter long position. Mood is upbeat.
Nifty is stuck in a range at the upper end of the chart. Yesterday Nifty did not do anything. As per OI Table bulls are holding onto 10700 Puts with highest OI and bears are sticking to 11000 Calls (second highest). So the range is small. It is a fight of tug of war. In other words, it is time correction. It means, there is less price correction but a lot of time...
Take note of Turning Around story in India Pharma Industry. Bottoms are made. Now turning up. PEL was a much sought after stock till a year back. For last one year this good stock has been correcting. Now price is heading towards 200 DMA just like some other Pharma stocks I have been covering. Most of these are showing same pattern. Time to invest.
Big leap and consolidation. This narrow range consolidation patterns are much reliable. Upward breakout is a possibility.
Reliance at resistance posed at 1022-3. If this can be cleared, more upside can be see. Next halt can come at 1039. Else a mild correction may happen maximum target of which will be towards 997. Mood in general is upbeat.
Lift above 200 DMA could not be held. Remaining this MA will change the trend. Now 261 may be watched closely for immediate support. If 261 is respected, price may be able to lift it towards and above 200 DMA.
Last Friday once more Nifty took support at 9 DMA and tried to move up but could no. As per OI table, bulls are holding onto 10700 Puts with highest OI. Bears though have reduced their grip onto 11000 Calls (send highest OI), yet they may try to show some dominance tomorrow, Day chart is overbought. Weekly chart has developed a Negative Divergence but not...
Looking great. Price spent many days at and around 100 DMA. It seems price is heading towards 200 DMA. At 200 DMA we shall again take a look.
Avoid. Breakout possibility can be fraught with lot of risk. This is one more company against which MCA (Ministry of Company Affairs) has initiated enquiry since auditors deserted the company. (Also see my post on CGPower).
Down is the word. Price below 200 DMA, Death Cross etc. Latest development is noteworthy: MCA (Ministry of Company Affairs) has initiated an enquiry into several companies which were deserted by their auditors. There can be serious issues in certain cases. Somebody inside this company knew this and sold heavily and made money.
A pullback after a breakout is a possibility. This stock has given two pullbacks. Thrust in Consumption industry.
I posted this picture several times in the recent past expressing possibility of breakout. Now immediate resistance comes at 1311-15 levels. If the same is conquered by bulls, target can be 2355. But I expect consolidation above 2206 which will work as good support. Then expect breakout again.
Avoid. Long term correction and change in trend heralded by: a) price going below 200 DMA, b) 50 DMA crossing 200 DMA and now c) 100 DMA crossing 200 DMA. We shall look at this stock when price goes above 200 DMA. Till then no investment. Trading may be done: sell on rise.
Fallen from grace in Dec.2015. Once a darling of traders and investors. 3 years of correction seems coming to a close. Now Pharma industry is showing signs of sustained recovery. Price of Auro is heading towards 200 DMA. Price made two supports. Now 50 DMA is crossing 100 DMA which instills confidence. Real test will come at 200 DMA.
Price breaks out of the resistance. This stock can have impact on Nifty since it has highest weightage on Nifty.