ParimalDevnath

ParimalDevnath

Price is consolidating in a narrow range for last 5 months. Three possibilities arise: I) Consolidate for more time, ii) A breakout from the range taking the price to new highs, and iii) Breakdown taking the price to lower levels.

ParimalDevnath

Bearish Shark Pattern has already triggered and the probable upside target is visible wherefrom price may reverse. This is the reason why it is called 'Bearish Shark'. In my future posts I shall try to give more emphasis on this interesting pattern. This one is just for educational purpose.

ParimalDevnath

Price could not manage to hold above 200 DMA which it did 12 times earlier. There is a fundamental reason which not technical analysis can spot. All of a sudden the head of the bank was interrogated by anticorruption agencies if this bank has played a role in regard to PNB scam. Traders were quite cautious. How to deal with such unexpected surprises? Stop loss....

ParimalDevnath

When a well-defined support line is broken down, price moves on a faster pace. This is technical side of the story. There is fundamental reason involved. US president Trump has picked into Indian steel and steel products. In such an unprecedented strike which nobody would have imagined, a trader can save capital only by adhering to appropriate stop loss entered...

ParimalDevnath

Yesterday Nifty has got respite with support coming at 200 DMA. Does this mean that bulls are out to prowl again? May be. But we have to stay alert for some more days. If Nifty crosses and stays above 10300, then we can be sure of bullish overtone. It will be bearish below 10000 and extremely bearish below 9700.

ParimalDevnath

A bottom was created in January 2016 and since then a strong bull run has continued unabated. In June 2016 50 and 100 DMA gave a upward cross to 200 DMA which boosted the spirit of bulls. Now 350 is the strong resistance zone. So price again seeking support at 200 DMA. History repeats itself. Just as all earlier times, this time too one can expect price to head...

ParimalDevnath

Double Bottom pattern has been created and price appear to be in a reversal mood. A big gap formed on capital infusion in PSU Banks has been filled. There is possibility of sustained upside and will face resistances at 270 and 280 provided bulls can manage to hold the low made today.

ParimalDevnath

As stated yesterday, price moving within a narrow range (rectangle, note that most of the chart patterns are geometrical forms, be it Harmonic, EWave or consolidation) and today price is reverting from the support zone.

ParimalDevnath

The stock is in strong bull market and presently taking support at a well-defined support line respected for several occasions. There are three bottoms made successively. Price is also near significant MA i.e. 200 DMA which big traders and investors follow for direction. Holding to this support zone, there is a high possibility of trend assertion.

ParimalDevnath

Price has come down to long-held support line. It seems that five waves down is also done and there is a positive divergence showing up. Either down slide of price will pause and/or price will reverse the course.

ParimalDevnath

This market leader is in strong uptrend since it has given a breakout from prolonged (three years) consolidation in February 2017. Now for last about five months price is moving in a narrow range. Presently price is reaching the lower line (support) of this band. We hope that price will respect the support line. Else it will be a breakdown.

ParimalDevnath

Yesterday I expected that price would hold at the resistance zone. I am proved wrong by a bearish spurt today. Now it is possible that price will take support at the bottom of the consolidation pattern.

ParimalDevnath

Price is holding at (today bulls managed to keep the nose above the support line) the crucial and deciding line for a sustained move either of the sides. So if price holds below this line on day's closing basis, bears will cheer up.

ParimalDevnath

As explained in yesterday's post, today Nifty has come down to taste 200 DMA on expected line after a steady bull run since Jan.2017. This bull run is now being challenged mainly due to rampant corruption in Indian banking sector. Not just PSU Banks, even corporate banks are also involved. This does not auger well for the economy. It seem the present down-move is...

ParimalDevnath

As explained in yesterday's post, today Nifty has come down to taste 200 DMA on expected line after a steady bull run since Jan.2017. This bull run is now being challenged mainly due to rampant corruption in Indian banking sector. Not just PSU Banks, even corporate banks are also involved. This does not auger well for the economy. It seem the present down-move is...

ParimalDevnath

Price at crucial level. This level decided several times earlier for deft movements in both directions. Same can be repeated now as well.

ParimalDevnath

Today price has gone below 200 DMA. Now how to deal with the trade. There is a loss, so one can book the loss or hold with the hope that price may go above 200 DMA again and stay above.

ParimalDevnath

Price at a critical point, i.e. long term support line built over more than 6 months and price has managed to hold its nose above this line. Moreover, price is also close to 200 DMA which is seriously tracked by professional traders. It is clear from the chart that this stock is in strong bull market. So this is a testing time for bulls.