ParimalDevnath

ParimalDevnath

Posted this a couple of days ago. Holding onto 200 DMA, may price move up.

ParimalDevnath

Price taking support at 200 DMA. So holding the same, price may go up towards previous high. SL is made very small. It is a simple approach.

ParimalDevnath

Generally we look out for resistance and support for breakout or breakdown at the bottom or top of a daily chart. Here breakout is occurring at the middle of the chart. Reliability and validity of this can be questioned.

ParimalDevnath

Wild price move yesterday. Even though there is a very good news from USFDA for the new product. We wait for market to digest the new developments.

ParimalDevnath

As posted yesterday, Nifty took support at 100 DMA today. So this level is to be watched. Today again bears dominated on the screen. Bulls are lying low as they have reduced their support level at 10200 PE. If 10554 (100 DMA, 100 and 50 DMA are converging) is breached, then bears will have full control till 200 DMA.

ParimalDevnath

As opined yesterday, price is close to 50 DMA for support as it during earlier corrections. As per OI table, to resolve this correction, price may take some time. We need patience. The stock is in strong uptrend.

ParimalDevnath

Go down the drain please! Below 100 DMA, 200 DMA is possible. But there is a positive divergence developing.

ParimalDevnath

Consolidation is an essential part of price move-- blah, blah--. Price in consolidation mode. If price slides near 950 (50 DMA), it will be a good opportunity to go long.

ParimalDevnath

Negative divergence triggered pulling down Nifty to 15 DMA. Below 5 DMA, downside momentum accelerates. Bears are sitting tight at 11000 CE which is the highest OI. Now bulls have created some position at 10600 and also at 10200. So we have to watch 10600 carefully if this level is breached. If breached, 10552 may provide some support which is 100 DMA. Bears are...

ParimalDevnath

Consolidation above 100 DMA. Now price at resistance level. It may return from here or even can breakout. In case of breakout, it may impact major indices of the world.

ParimalDevnath

After a big vertical lift consolidation is normal. Expect a big rise again once the consolidation is done. This may take some time. New highs are coming. AP is a market leader and falls in the consumption segment of industry which is doing quite well.

ParimalDevnath

Nifty may remain rangebound as per the study of OI Table. 11000 is the Highest OI in calls which indicates that bears have build strong position at this CE strike. So they have some upper hand. Bulls have shifted their position down from 10500 10200 Put strikes. There is a small negative divergence developing in Stochastic indicator which is not triggered yet....

ParimalDevnath

Resistance created by Double Top pattern pulled the price down towards 200 DMA. Holding on the 200 DMA, price may see resumption of the main trend. 910 is the strong support zone as per OI table.

ParimalDevnath

Resumption of the main trend (up) on cards! Seems so. Correction is done, may be. First sign is: 50 DMA crossing 100 DMA on the upside and then price rises above 200 DMA. Now 50 DMA about to cross 200 DMA on the upside (Golden Cross). Good investment proposal.

ParimalDevnath

After a big rise, price is in consolidating in a box. OI resistance has been at 1600 and 1645. So correction is happening from resistance level and support lies at 1490 to 1610. We recommend going long at support zone with a small SL.

ParimalDevnath

This is nice example in understanding the importance of 50 and 100 DMAs as accessories of 200 DMA. Firstly, a) Price moves above 200 DMA is the first thing to take note of, b) 50 DMA gives a cross to 200 DMA on the upside which boosts the bullish sentiment, c) 100 DMA gives upside cross to 200 DMA which further accelerates the upside move. Secondly, Journey...

ParimalDevnath

How 200 DMA decides the fate of a stock and its prevailing future trend is more than explicit in this example. 100 and 50 DMAs work in support of 200 DMA. In this case, price tried a number of times to raise head above 200 DMA yet it could not hold the head for more than a few days. This is a significant lesson for successful trading and investment. At the same...

ParimalDevnath

I contended earlier that on many occasions price may pull back towards the breakout level. For last four sessions price took support above 1200 and this could not be broken. Chart study takes time and patience.