ICICI BANK ICICI bank broke out of its falling wedge pattern which is a bullish pattern. Stock has been taking support around 994 levels and giving decent bounces.Stock is approaching another major resistance of 200 DMA @1084. 200 DMA is defining lines between Bulls and Bears Move above 1084 will make the stock to enter… Read More »
HDFC HDFC has been taking support from its short term rising trendline(drawn in Red) around 635 Levels.Blue Line drawn shows a classic example of support becoming resistance. MACD has generated a Buy and RSI showing postive divergence. Buy above 663 Tgt 669,680 and 690 Sell below 635 Tgt 626,617 and 610 Bharti Airtel… Read More »
Nifty Hourly Chart Nifty Did a U-Turn again and took everyone by surprise on its move on Last thursday. This move shows highly unpredicatble nature of market. Market always follow the path of Least Resistance On Hourly chart market has broken the downward trending trendline as Shown in chart. Next level of Resistance comes @5510… Read More »
As mentioned in Earlier Article, trading is not about the big winners but the small consistent winners that add up over time to become very impressive annualized returns. For example, if you use a strategy that produces a 10% monthly net return, that translates into an annual return of 120%!.Means Doubling your money in… Read More »
India VIX VIX is the fear factor it and it signifies the the market volatility and prone of falling. VIX has inverse correlation with Nifty.ie. If VIX rises Nifty falls and vice versa. Live VIX CHART(Click on Link to see Live VIX chart) As seen from above chart VIX is trying to cross 200 DMA@21.… Read More »
Bank Nifty Bank Nifty is trading at a very crucial junction and on verge of breakdown from Flag and Pole pattern. Bank Nifty is trading end of lower end of and break of 10338 will lead to big downfall in Bank Nifty. Market was consolidating yesterday and adjusting the oversold short term pattern. Stochastic is… Read More »
DLF Limited DLF is trading a small range from past 3-4 Trading sessions forming lower highs and respecting its both upper and downward trendline. Break of the Range will give momentum on upside or downside. DLF is trading around its 5 EMA LOW and break/close of the same will give a impulsive down move. RSI… Read More »
Bank Nifty Bank Nifty is also forming a Flag and Pole Pattern and target Looks very scary. Financials forms 28% of our Index and bank Nifty is very near to its Feb Low of 10017.If bank Nifty breaks this level than we have next support around 9100 Levels only as shown in chart. Always use… Read More »
WIPRO Ltd Wipro has been a range bound Stock from almost a year. Weekly Chart of Wipro is shown range bound Moves in the Range of Rs 372-500. Stock is forming a higher bottom on each fall and a Higher High before a fall which is a bullish case. Presently stock is facing a trendline… Read More »
Nifty Hourly Chart Nifty Hourly chart on Friday was a classical example of Support becoming Resistance in a downtrend. As seen from the above Hourly charts we can observe that 5510-5515 was a support for Nifty during the fall where Nifty consolidated before the fall and now the same support has become resistance during the… Read More »