Range for extreme near term intra day to next day.
If 44000 crossed towards closing then upside momentum can be key. Key for balance part of the day 43750.
Next intra day directional move outside the range.
Violated earlier bottom 43900 and the same offered resistance.
Upside pullback can resume above 43900 and closing above it with bullish candle.
RSI has to move above 50 for upside momentum.
Macd has triggered it's average.
Pull back continue above resistance of 43900
Currently in retracement mode as shown in chart.
Can test retracement.
Hourly chart exiting overbought zone on RSI
Macd trigger it's average
Upside can continue above 19500
23.6% and 38.6%
Retracement as shown in chart
Expect near term to short term correction to retracement as shown on the chart.
Critical support at current level even as trend line breakdown has been witnessed.
Negative divergence on RSI
Macd is below it average as shown via macd histogram.
As long as 34k is not crossed on closing use rise to book profit and can be used for distribution.
Expect retracement as...
Support line key for short term. Volume bar and the low of that week, budget week low.
Resistance line key.
Even on attempt if pullback to test and cross resistance line. Sustainability issue will remain. Getting past the supply zone could be difficult to cross. This would mean range bound volatility between support line and resistance line.
The Weekly chart rushes into RSI oversold.
Retracement of the rally from 17.08 to 376.70
is being witnessed now.
38.2% retracement 239 is tested as
RSI hits the oversold on weekly.
RSI hitting oversold indcates investment
opportunity with gestation period.
The oversold position may take the stock
down to test 50% and 61.8% retracement
which are at 196 and...
Support breakdown has been witnessed earlier shown by 2 horizontal line.
The 200 day average is violated.
A pullback may be happening as RSI exit the oversold zone and is trying to move higher.
This help help the rise to test the resistance zone and 200 day average.
But sustainability issue may remain till comprehensive breakout above the 2 horizontal line at...
BSE 400 MID SMALL CAP
Broad market is year to stay.
A breakdown on the trend can halt the current
Eventually aims moving higher
with volatility towards 2.618 and 4.272
levels as shown in chart.
NIFTY FEB- The fall has been retraced to 61.8% whereas Bank Nifty has crossed the recent high and Jan-March 20. Earlier relatively Bank Nifty Under performed to Nifty. It could be now Nifty under performed Bank Nifty.
NIFTY FEB sustain above the open and above 14398 to cross 61.8% level. If that happen then expect rise towards the 52 week peak and historical...
Breakout above the earlier contract peak and also above earlier historical peak formed in Jan-March 2020 quarter. Since the rise was large one should be open for intra-day correction if sustains below the open and below 33276-32313 zone. If sustains above the open and above 33485 then expect Bank Nifty Feb to continue the rise towards 1.618 of the fall from...
A correction of the rise from 7475 to 14772 is in progress.
The 23.6% is at 1300.
The last swing bottom was at 13131.
The 89 day ema is at 13130.
Friday bearish candle after testing the gap suggest that
near term reversal for pullback to start off will be above friday high.
Closing above friday high can mark a reversal
from current falling correction mode.
After 3 days on indecisive candle, friday candle was bearish suggest a near term correction or retracement of the last rising swing from 89.47 to 180.10.
A swing top based on the idea of lower high and lower low with bearish candle.
Expect the trend line to be tested and the 38.2% retracement 144.54.
Resistance will be at 164-169.
Better opening and intial rise...