Nifty Hourly Nifty Hourly formed a double top at 5522 on hourly charts on Friday trade. Double top confirms the downtrend and a close below 50 SMA@5518 confirms the downtrend. Indicators are giving positive divergence but divergence should always be confirmed with price action. On Downside 5472 and 5436 are next valid support for Nifty. … Read more Nifty Weekly Analysis for Week starting 1 August
Nifty Hourly Nifty Hourly chart broke below the crucial support of 5535 yesterday but short covering in late hours came and Index closed above this level. Break of 5535 makes Technically Nifty weak and today we will see a gap down opening owing to global cues. Looking at hourly charts if we break 5597 in … Read more Nifty July Expiry Views
BHEL BHEL i have covered in my previous analysis and wrote that 1890 is a Level to be watched .If it starts trading below 1890 it will see a severe downfall and which will lead to gap filling. BHEL has a bad results yesterday and today it starts trading below 1890 and the severe fall … Read more BHEL Classic Example of run away Gap Filling
Bank Nifty Bank Niftycrashed today after RBI did the shocker raising the Repo Rate hiked by 50 bps . Market was not prepared for this and corrected 2.3%. Bank Nifty was unable to cross 11451 levels which was the first sign of bearishness. As per daily charts bank nifty is still trading in a range … Read more Nifty and Bank Nifty under Bear Attack
RBI governor did it again the unacceptable and Market does not like surprises. Repo Rate hiked by 50 bps to 8%, effective immediately * Reverse Repo Rate adjusts 50 bps higher to 7% * Marginal Standing Facility now available at 9% * Cash Reserve Ratio kept unchanged at 6% Break of 5583 … Read more Nifty Intra day Update
Bank Nifty Tomorrow is RBI policy and Bank Nifty will be in limelight and volatile. So what can we Except, Market rallied today in anticipation of NO RATE HIKE , but as per RBI policy documents released today they still maintaing HAWKISH stance. I am firm Believer of Charts discounts everything and Looking at … Read more Techical Levels:Bank Nifty,RIL and ICICI Bank
Nifty Hourly It was a roller coaster Ride for the week which was highly volatile and if you were on Right side would have minted money. At the end of the roller coaster week, the benchmark finally ended at 5634, Gaining .86% over the week. As a Trader identify the market you are trading into … Read more Nifty Weekly Technical View For July Expiry
Nifty Hourly It has been excruciating/frustrating 9 trading sessions to trade with such a dull market and Sideways. Neither Bulls are making significant money nor Bears. The most important aspect of trading is understanding What Market are we trading into. Are we in Sideways/Trading or trending market. Such judgement will help u in planning your … Read more Nifty Where it is headed ?
Reliance Industries Ltd RIL charts are showing a classical example of Support becoming Resistance. If the above chart is seen closely 883 was the breakdown point and this is the point stock is facing resistance now @883 Volumes on lower end near its ressitance and Negative divergence are 2 bearish indicators for the stock. Moving … Read more Is RIL heading for Breakout?
Hindustan Unilever HUL is showing a classical example of Giving a Breakout@330 Levels than rallying till 348 and after that making a pullback back to breakout levels of 330. Consolidation after a breakout is good for stock technically. So shall a Buy be done in HUL for Short term ? Buy around 330 … Read more Technical Views:HUL and JP Associate