COLPAL - The Bat harmonic pattern A breakout above point B has invited targets for point D One can go long with a SL of 50 ema.
GRANULES - Trendline breakout accompanied by golden crossover One can go long with a SL of 318.
NIFTY - Analysis What happened on Friday, was just a dead cat bounce from 200 ema or can also be called a relief rally to the 50 bps hike. What follows ahead - Expecting NIFTY to fill the gap on the upside (17327 to 17475) first, then resume it's downward journey towards 16250. Will post further analysis after 16250.
S&P 500 Index - Analysis Almost every indicator, be it 1. RSI 2. STOCHASTIC RSI 3. William's % R and others are extremely oversold on daily, weekly & monthly time frames. This calls for a short term relief rally in the index, up till 50 ema or 3925 levels & then another leg of downside till 3250 levels. There are high chances of market stabilizations near those...
ZYDUSLIFE - Accumulation accompanied by aggressive momentum buildup at max POC support. One can add with a SL of 320. I see no new lower low formations here.
VOLTAS - Catching a falling knife. Only high risk traders should enter here Huge divergence with RSI on daily time frame. One can go long with a strict SL of 860.
COFORGE - Pennant breakout at a crucial demand zone, accompanied by maximum POC support. One can go long with a SL of last swing low.
ABBOT INDIA - Bat harmonic pattern to be activated on a close above point B. Above point B, one can aim for Point D as a short term trade.
LEMON TREE - Rounding bottom formation A good breakout possible above 90 (weekly close). No entry until then. Target post entry = 30%
BANK NIFTY - Analysis A breakdown below point B, has invited targets up till point D. A typical BAT harmonic pattern. Invalidation point - Point B
NIFTY - Analysis "When the US sneezes, the world catches a cold" Such will be the fate of Indian Indices. We will typically follow the US sell off, however, when the recovery starts, NIFTY will make a fresh ATH, up till 19200 levels. As of now, investors should maintain 2 "Buy on dips" levels - 1. 17193 2. 16793 Traders should follow a "Sell on rise"...
JUBILANT PHARMOVA - High probability reversal of polarity set up accompanied by double bullish divergence One can go long with a SL of last swing low.
VIP CLOTHING - Rounding bottom breakout the targets for such a breakout are usually 30% with a SL of 8%
CDSL - Pull back to retest zone. The stock seems good to make new highs from here. One can go long with a SL of 1260
UPL - Pullback high probability reversal zone One can go long with a SL of today's low.
NIFTY BANK - The index was near fresh ATH breakout, however the macro impact was felt here. Our banks are strongest and have registered a 9% YOY credit growth (Highest ever). Mentioned above are 2 zones for additions of bank nifty longs. Suggestions - 1. BAJFINANCE 2. ICICI BANK 3. KOTAK BANK 4. AXIS BANK 5. BANK BEES Will personally avoid HDFC pack.
NIFTY - Buy on dips The bearish divergence along with troubled macro factors has triggered an aggressive short for the index, however one shall adopt buy on dips strategy here. Levels to add - 1. 17161 2. 16761
IGL - Pole & pennant breakout Beautiful chart structure here makes an immediate target near 465 levels. One can go long with a SL of 418.