- Banknifty opened flat today. - Moved sideways in the range I discussed in yesterday's post until 2 p.m - Broke the range to the downside. - Now chances are high that tomorrow, it would be moving towards its next support levels around 40300-40200. - Resistance now stands at 41150-41180 , hence if the index retraces some part of its move, then only it...
Nifty closed above a level, which it was not able to take out from the past two sessions. Now if tomorrow, if sustains 18210 levels, then it is probably moving towards 18540 levels.
First Hour Candle - Bullish at intraday support Prices did not see a follow-up. Price move below the support formed weak candle in the second hour but did not see a follow-up on the downside. Since Price did not sustain the support level mentioned above, hence the First-hour candle high would most likely act as a resistance for the rest of the day and it...
We have witnessed a remarkable move in the ITC from 200 levels to 265 levels 😍 in the past few months. Though in the last week, it has fallen about 12 %, that's a huge number 😲, ideally which an up-trending stock should not witness. Though it has good support around 230-232 levels, if held, then chances of moving upwards would still be there on the cards...
Banknifty has been trading sideways for the past 3 trading sessions. At higher levels, it is facing supply pressure and at lower levels, demand is coming in. Now for tomorrow It can move in any direction, and there is a possibility of a trending move tomorrow, hopefully. Support levels - 39428-39462 - opening and sustaining this level, might open a breakout...
HDFC Life recovery from 690 levels, is quite interesting and the stock looks good on most of the timeframes. For tomorrow, if it sustains above 700 levels, it would be mostly moving towards 715 levels and above. SL around 697 levels.
Banknifty opened the gap up, saw tiny follow up, couldn't sustain at higher levels, and closed in red near its low, forming a Bearish Candle Now the price action of today does not look good and did signal caution for the upcoming session. 1. Gap up Opening - Didn't sustain 2. Bearish Engulfing candle at channel resistance. 3. RSI at 70 levels. 4. Full Moon ...
Banknifty opened the gap up, saw some followup up to Butterfly prz levels, faced resistance, closed in the first hour almost where it opened. Now, resisting the same, we could see some correction in the index in today's session and it may continue in the following trading sessions as well. Immediate support @ 39300 Strong support around 38100- 38000 However,...
Since long-term timeframes are good, and the stock is back again at short-term support, it could be a good time and price to add more into the existing long positions. Please refer to the linked post for a detailed analysis of the stock.
Banknifty has seen a whopping gain of about 33% since the start of this year. And we talk about technicals, bank nifty has been trading in an upsloping channel and currently, it is approaching the upper band of the channel, which might act as a resistance in the near future, hence one should get careful now or trade light with strict stop loss as it is...
PI Industries, is another stock that came on my radar today. The stock was resisting 3250 levels, now it managed to come above it and also trading above it from the past 2 trading sessions. Now the same level is acting as support and if prices manage to hold this level, it might be moving towards 3480-3500 in the coming trading session. Trade type: swing [ 5-...
CCL looks good on all the timeframes. Now if it sustains 408 levels in the short term, it might be moving towards 480 levels in the coming weeks. Type of Trade: Positional : 2-3 weeks
5 paisa made high of 444- 465 in July 2020 and retraced some part of its previous rally only to take support around 235 levels. The stock then started rallying again but was not able to break through previous resistance( highs made in July 2020) and traded sideways near the resistance for about 3 months. Finally, it managed to break above in the first week of...
Divislab saw a good move from 5022 levels to 5223 in the past few sessions. Now, if it holds and sustains above 5100 levels, then its probably moving towards 5250 initially, and also towards 5327 in the coming trading sessions.
Banknifty moved higher today, closed in Green, forming a Bullish Candle. Currently, it is trading near the resistance it created in the last few weeks. Now We have a support zone around 38059 - 380126, if it sustains this zone, it might be heading towards 38800 in the coming trading sessions. Intraday support- 38170-38126 Swing support @ 38060-38000 Do Refer...
In today's session, ITC broke the trendline, it had been resisting for the past 20 trading sessions. Now if it sustains 232 levels in the short-term, it probably giving clues of renewing its long-term trend . Immediate resistance 237-238 Further resistance at 244 Support 230
UPL was resisting a downsloping trendline for the past 3 months. Though the breakout is not as convincing as it should be, I would like to wait for it to sustain 725 levels in the short term to move towards 770 and 800 levels in the coming trading session.
Banknifty mostly traded sideways this week. Index has created a range of 38377- 36680 Now if the Banknifty has to go up, it should open above 37673 and also sustain this level, to move towards the upper range