ParimalDevnath

ParimalDevnath

I attribute lot of importance to three DMA--50,100 and 200. Why? Here is the logic to elaborate the same. Have look at the arrows. Price slid down 200 DMA and then it made two attempts to reach 200DMA but could not surpass the same. Since 50 crossed 200 on the downside. Now 100 crossed 200 which is quite negative. All rises will be sold. I posted this chart many days ago.

ParimalDevnath

GDP growth of 7.7% for Jan-March quarte propelled Nifty in the last trading session. To know what and how the govt. performing the best thing is Nifty. News papers and channels are all bias. Bulls guarding 10500 with the highest OI. Market may see more upside from the present level till 10500 OI is guarded by bulls.

ParimalDevnath

I covered this stock a few days back. A close study will make it clear that before every time price moved up from 200 DMA, it spent several days at and around this MA.

ParimalDevnath

Price halved due to bonus in 1 to 1 ratio. Traders, investors and speculators will evaluate the financials of this second most valued stock in this new light. This will take time. Till then this counter may be avoided.

ParimalDevnath

Price corrected till 100 DMA 4 times earlier. Now once more price is at 100 DMA. SL is made small.

ParimalDevnath

The picture speaks volumes: how many corrections are done till 50 DMA. The stock is in strong bullish trend and it is also a breakout stock.

ParimalDevnath

The stock is in strong bullish market. It is also a breakout stock. At this point of time price is facing resistance. This zone is decisive for a breakout or a breakdown or more consolidation.

ParimalDevnath

Price is at the doorstep of 200 DMA and it is a decisive MA. Now 200 DMA will decide the future direction or trend of this stock for long term and also medium term.

ParimalDevnath

50 DMA crossing 200 DMA on the upside. This is Gold Cross. It is said that upwards momentum picks up when such crossover happens.

ParimalDevnath

It was a roller coaster trading day. Both rival parties were confused which side to take. VIX was increased by one point. Market was on track only after 2 PM. We may witness similar kind of swing tomorrow as well. Nifty closed exactly at 5 DMA

ParimalDevnath

Weakness prevails due to international crisis. It is possible that Nifty again will visit 100 DMA. Volatility due to expiry is adding up.

ParimalDevnath

Price at support zone and forming a base. 600 is the zone. Earlier also similar base was created. Good long term investment bet.

ParimalDevnath

I covered this stock 6 earlier times. The stock is in strong bull market. Consolidation is running. Once the breakout happens, price will be taken to new life highs.

ParimalDevnath

Yesterday at the fag end of the trading session quick profit booking was seen at the higher level. As per OI table, Bulls are sitting tight at 10500 (highest Put OI) and bears are guarding 10800 (second highest Call OI) for the current series. Trend remains up.

ParimalDevnath

This is what I wrote on 24th May: This is what I wrote on 21st May: 'It is to face tough hurdle at 3610-15'. Today price made a high of 3615. Now if this level of 3610-15 can be saved by bulls, which may not be easy, it will be another breakout taking the price to new highs.

ParimalDevnath

Taking support at 200 DMA price may move up as expected in yesterday's post.

ParimalDevnath

Possible 5 waves down matching with the target of Harmonic Pattern and the target also matches with earlier low around 870 which is also the support line of the consolidation.

ParimalDevnath

This is what I wrote on this stock on 24th May:The pattern may be considered as Rounding Bottom. Price is about to breakout. Target is 250 plus from the breakout level.