TCS looks poised to breach the upper resistance zone and breakout to reach new All Time High. 3217.2 acts as a strong supply zone and the uptrend also has a good volume support to keep the momentum intact for TCS to scale new highs. Go Long for T1 - 3360, T2 - 3400, T3 - 3450 and T4 - 3500 with trailing stop loss of 10 Rs. Trade wise and safe.
Axis Bank has been trading in a parallel channel formed after breakout from the falling wedge post reaching all time high of above 826 with a support of 100 DEMA. 697 forms the immediate breakdown support and 715 as the breakout resistance for intraday on 20th May 2021. Buy above 715 and sell below 697.
Nifty 50 has formed a descending broadening wedge and a complete Head and Shoulder formation on 15 min chart. Flat to negative (upto 70 points) opening expected. If index slips below neckline, lower level of 14222.25 (support) will be tested and a retracement possible upto 14280 if support is sustained. Chance of a breakout is probable in case the index crosses...
Nifty 50 index tried to break 14550 level but a straddle at 14550 - 14575 pulled the index below 14500 due to selling pressure. Hoever it managed to pullback and close above 14500 on Friday. If it sustains above 14500, then possible upside upto 14700 expected or downside move till 14300 expected intraday. In case of 50 - 60 points gap up, 14600 will play a...
Nifty 50 Index levels to watch out for 30th March, 2021.
Index tried to break 14550 in the later half but a straddle at 14550 - 14575 pulled the index below 550 and it managed to settle above 14500. Possible upside till 14700 and downside till 14300 expected intraday.
Any suggestions or comments for improvement are most welcome.
