We got a closing by Nifty today above 23200 levels at 23205 which has confirmed the chances of Revival. Two minor and 2 major hurdles remain in front of it right now before we can confirm that bear run is over. The minor resistance in front of Nifty now are 23270 and 23424. These are not strong resistances however any resistance can not be taken lightly when FII...
Good recovery by Nifty today closing above the mid channel line but there is long way to go before Bulls are back in business. We do not know if today's bounce was a dead cat Technical bounce after the rout yesterday. The resistances that Nifty now faces are at 23176, 23424, 23657 (Father line resistance), 23850 (Mother line resistance), 24518 and finally...
Nifty post today's closing just above 23K has officially closed below Mid Channel within the downward channel. This is not a great news for bulls. The only silver lining in the cloud is that the closing is above 23K at 23024. Bollinger band is suggesting a support near it's lower band width that is 22936. Other supports for Nifty will be at 22785, 22465,...
Jyoti CNC Automation Ltd. engages in the provision of manufacturing solutions for computerized machine cutting tools. It operates under the Within India and Outside India geographical segments. Jyoti CNC Automation Ltd. CMP is 1273.05. The Positive aspects of the company are Company with Low Debt, Company able to generate Net Cash - Improving Net Cash Flow for...
Persistent Systems Ltd. is a technology services company. It engages in delivering digital business acceleration, enterprise modernization, and next generation product engineering services. The firm operates through the following segments: Banking, Financial Services & Insurance, Healthcare & Life Sciences, and Technology Companies & Emerging Verticals....
Nifty today did well to close just above Mother line of hourly chart. The closing we got was at 23344 and 50 EMA or the Mother line is at 23330. This bring the hope of recover towards 23.5K and further towards 24K+ levels in the medium to short duration. The resistances for Nifty right now remain at 23390, 23460, 23589 and 23703. Closing above 23703 will be very...
Reliance Industries Ltd. engages in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, FMCG, and telecommunications, Digital Entertainment and Media. Reliance is one of the biggest Indian companies and vivid sectoral presence. Reliance Industries Ltd. CMP is 1302.35. The Positive aspects of the company are Company...
Ambika Cotton Mills Ltd. engages in the provision of manufacturing and selling of cotton yarn catering to the needs of manufacturers of premium branded shirts and t-shirts. Ambika Cotton Mills Ltd. CMP is 1581.05. The Positive aspects of the company are Attractive Valuation (P.E. = 14), Company with Zero Promoter Pledge, Company with Low Debt and FII / FPI or...
Nifty tried hard to close above Mother line of 50 Weeks EMA and Pitchfork median line this week but was unsuccessful. Closing above 23433 is imperial for Nifty to gain a bullish momentum. Pitchfork is used to determine the long term trend of Nifty. In this particular chart the Pitchfork starts from 2021 and extends till 2026 end. The upper side has lot of...
Good Leap by Nifty today in anticipation of RIL/INFY results and closed 98 points up at 23311. Real test is the level of between 23377 (Mother Line) and 23398 (Important Resistance). This includes today's high and Mother line resistance and another important resistance. After closing above this zone the next resistances will be at 23469, 23598, 23736 and finally...
As of now the 2 day's positive closing has given hopes of 23K levels being a good support zone. However there are 4 major hurdles in the path of Nifty before it can move ahead with full force. Reliance result tomorrow can be of some help to Nifty if at all it is positive. On the other hand if Reliance result is negative it can be a major hurdle looking at the...
Dollar Vs Rupee: Dollar is at 87. Major breakout from the zone but one interesting point to note is the RSI. Relative Strength Index is above 90. Near 91 in fact. These are unsustainably overbought levels. We will see a proper deep correction there sooner than later. Once the Dollar starts to correct, Nifty will not remain bearish. Anyone who understand RSI...
As it was expected Nifty plummeted further in search of bottom. Nifty closed at 23085 which is near a fragile support of 23057. It does not look likely that The reasons for the fall are various as explained in the previous posts. Some of reasons being constant selling of FIIs under the guise risk free return available in US debt market in addition to other value...
Procter & Gamble Health Limited is one of India’s largest VMS Companies manufacturing and marketing over-the-counter products, vitamins, minerals, and supplements products for a healthy lifestyle and improved quality of life. Procter & Gamble Health Ltd. CMP is 5258.5. The Positive aspects of the company are Company with No Debt, Company with Zero Promoter...
Delta Corp. Ltd. (India) engages in the business of gaming and entertainment. The firm owns and manages casinos in India. It operates through the following segments: Gaming, Online Skill Gaming, and Hospitality. Delta Corp. Ltd. (India) CMP is 118.93. The Positive aspects of the company are Moderate Valuation (P.E. = 20.5), Company with No Debt, Company with...
Nifty looking very weak after closing below Mid-channel support and 50 weeks EMA Mother line support. Mother line support or the 50 Week EMA was at 23442 and the closing we got is at 23431. If Nifty does not recover quickly and claims the Mid-Channel and 50 Weeks EMA, we might be in for more fall with supports at 23273, 22800 (Major Support Zone). If we get a...
Pretty bad closing by Nifty today which has further downside in Nifty hanging by the thread. As you can see we are near the bottom of the pennant structure. If the downside is broken by any chance possibility of further downside can not be ruled out. However if the support of today's low is maintained possibility of upside will open up. Silver lining in the cloud...
Parallel Channel of Nifty suggest that we are in delicate zone with shadow of the candle being positive. Nifty has thrice taken support on the channel bottom as you can see in the chart. A strong support zone for Nifty is seeing strong buying emerging near the channel bottom. This strong support zone is between 23509 and 23263. The Three important resistances...
