Indianstocks
NIFTY: There is no better level to buy than now.Nifty on the 1W time-frame is a straightforward buy. It is not just the attractive (now neutral) technical indicators (RSI = 48.265, MACD = -7.860, ADX = 27.064) but also the fact that the 1W candlesticks along with the 1W RSI being on a HL trendline, repeat a pattern which since 2011 starts an incredible rally.
The HL suggest that the index won't fall more from the current levels and should rise a minimum of +35% from November's High. We are heavily bullish on Nifty (long term TP = 26,000).
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Bandhan bank made a good price action Bandhan bank share made a significant price action by re-testing important support of two years, which is now a resistance. But now is not a good time for shorting (future) as it has now fallen 15% already in just three sessions. Wait for a pause - a small and volatile green candle. When the low of that candle breaks, that's the time to short for a target of 155 (low of 3 years).
Prediction : First, a pause at this level, then more selling pressure tile 10-12% more drop from here.
Action plan: The risk is high as the candles are big. Trade intraday if your shorting setup is formed. Buy in intraday with half position size and very small targets. Shorting the future is only recommended for an aggressive trader with a small stop-loss.
Bearish flag pidiliteBearish flag below the 200 dma. Pidilite is consolidating at 2300 which is a strong support. And break below can take it to 2000 which is the next support.
Execution - take in the money calls at 2400 as they are cheap on iv basis. 2400 puts at 100. Stop loss at 2360 which would be 50 bucks. Target of 2100 or above the next logical support shown on the chart.
WiproMost of the price action views for a stock are reliable and here on the chart of Wipro; formation of Triple Bottom Pattern clearly depicting a new signal and will provide a good opportunity after its reversal from price of 377. Whereas new orders will arise at 400 witha target of 60points and the booton of the pattern will be a stoploss for the trade.
Thank you.
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Indian Liquor StocksThis is custom index of Indian Liquor listed stocks with equal weight. It seems that the whole index is going up and new Russian Market demand is driving the same. Actual increase in profit will come after quarter end but as market is discounting machine price will move up ahead of actual results in expectations.