HI All, Wishing all of the Blog readers a Very Happy Independence Day. Nifty Daily Charts are Displayed above:-A Clear Inverse Head and Shoulder is developing in the Daily Charts with neckline placed the at 4700 Levels.So be bullish only above 4700 Levels only till 4650-4680 try to book out profits on longs. Drought can… Read More »
Nifty at last held the crucial support of 4385 on closing basis.This will be treated as a good trend reversal sign as per my understanding.Adding fuel to the fire is dow shooting up 160+ point as i write this post. Nifty now will face resistance around 4501 4544 4562 and 4600. Few Trading Ideas Formed… Read More »
RIL which dragged Nifty Down today formed a Gravestone Doji (not perfectly)which can be trend reversal signal. Stuck in a range of 1971 to 2096 Today closed at lower end of Range.I would advocate that next rise in Nifty will be lead By RIL 2040 CE has seen good accumulation by smart money. by Keeping… Read More »
MLL is in quiet a strong Downtrend.But the good things for Bulls in this counter was the fall accompanied by a very small Volume. Now strong is near a good support between 50-52 Range If the Stock is able to hold this support on a closing basis than stock can negate its downtrend and can… Read More »
Gail is forming a Pennant Kind of pattern with the Bootom line at 309-311 If this range get broken and sustained than we are insight of 303 295. Longs only above 323 for a tgt of 327 330 336
Support are coming at 209 201 and 188.An important point to note is that it closed above its 50 SMA today. quiet oversold on EOD charts and will give a very good bounce if 209 is not broken on closing basis Resistances are at 230 243 251
Bank Of India is showing Symmetrical Triangle formation with support around 319,and resistance coming around 339 Trading Idea can be to buy around 319-321 Range and keep a SL of 317 if it bounces than hold long with a tgt of 324 334 339 and if Sl gets triggered go short with a tgt of… Read More »
Nifty Weekly and Daily Charts are presented above:1. Nifty was unable to cross the Fibonacci 61.8% Resistance of 4793 in the present up move.2. Bearish divergence were highlighted in previous week analysis Click to View3.On EOD charts the present uptrend in extremely short term is broken and rallies till 4585-4600 should be used to short… Read More »
Gravestone Doji formed in RIL Implication:Candelstick denotes a Trend reversal 5 EMA of RIL was 2025 if 2025 got broken today than levels to be watched out are 2027 2001 1988 1977 1966 Upside only above 2096 watch this Chart Welspun Gujrat Sell if 220 is broeken and Sustained tgt 215 210
RIL has shown some phenomenal run in past few trading sessions from the bear bashing on bad results posted to a levels back to almsot 2.1K So whats next Chart we can easily see a double top formation around 2096 Levels and i have highlighted the Negative divergence in RSI also SO for Bull run… Read More »