KushGhodasara

KushGhodasara

Indicators of the stock are suggesting a good momentum ahead as it has given internal positive crossover. Also Its has been taking strong support at short term moving averages which can act as stop loss. Stock could touch new life high in coming months.

KushGhodasara

Stock has is consolidating in the range of 1000-1020 since last 3 sessions. Momentum indicators are placed well for upside breakout while short term moving averages act as a stop loss

KushGhodasara

Rationale: Stock has been taking rest at short term moving averages but MACD and RSI's internal crossover is suggesting some buy.

KushGhodasara

Banking stocks had been outperformers in 2023 but has been laggard until now in 2024! Things are about to turn around in coming week if we sustain above 48400 which is a "Neckline of an ascending triangle" formed on weekly charts of Bank Nifty. Indicators like RSI has already shown signs of a new rally by internal crossover last week. Target which will be...

KushGhodasara

Nifty has been in side ways directions since quite some time but now the parallel channel seems to take it to 22800+ next week. Indicators are sweetly placed with bullish crossover and short term moving averages at 22252 could act as stop loss to all longs!!

KushGhodasara

Nifty is opening with a weakness but technical index has strong support around 16370 where we have a recent gap unfilled! Even the short term moving averages are situated around 16400 with option writing also around the same level. While on the other side, if we stretch a Fibonacci of the recent fall from 18100 to 15700 then we could at least test 16921 which is...

KushGhodasara

Nifty finally breached 7 months old downside channel towards south which indicates more furious sell-off in coming weeks. Since last few weeks, 15900 was acting as a strong support on the indices but on Friday we have closed below the support indicating more weakness. So were would this carnage end for the bulls? The market always of probabilities in answer and so...

KushGhodasara

Last week came like a brain freeze for traders where we saw tremendous volatility on both side but ultimately bears got the final hold. In my last two posts on #Nifty, we predicted a correct Wave C to unfold and that what exactly happen in last week. We are moving towards a near term target of 16100 on indices. But next week is crucial because we MIGHT test 15900...

KushGhodasara

Bank Nifty has been also working in line with Nifty around 200 day SMA but interesting part on this was that it has been completely below the average for last 10 trading sessions. Strong earnings on ICICI Bank and Axis Bank didn't lead up the sector which shows that how strongly 200 day SMA is working as resistance. Now analyzing further move with Elliot wave then...

KushGhodasara

Nifty has been around in a range since last 10 trading sessions but during that it has respected 200 day average perfectly around 17200 level. It has closed at or below 200 day average for 9 sessions out of last 10 . For a technical breakout , its a guideline that we should sustain for two consecutive days on closing basis above breakout level for a confirmation...

KushGhodasara

Bank Nifty has been a outperformer in recent rally in last 6 months but now it seems it gonna break down from the channel too. Channel though is a downward sloping but if it breaks on downside then momentum and volatility will be fast and furious. One strong factor supporting my downside view is that Index has closed below 200 Day Average (Yellow line) for 6th...

KushGhodasara Updated 

Nifty had been trading in a dream rally since the low at 15600 in Feb but now it seems near term high has been pinned at 18114. There are many technical factors supporting the view that we may play short from tomorrow. Firstly, Nifty has resisted exactly at larger degree channel line which is intact since the life at 18604 Secondly, Nifty has breached down...

KushGhodasara

In recent years, $ITC.NSE has been talk of the town but on insta memes for its underperfomance. But recent rally seems to have some surprise for traders as it has crossed and closed at 267.80 which is 3 years high. Technically, momentum is strong with volumes and also it is running up towards the channel resistance of 282 above which a new DREAM rally would be...

KushGhodasara

I think we have got an "Inverted Head and Shoulder" pattern breakouot on Nifty hourly chart at 16720. Target is activated at 17800 while Stop loss at right shoulder low is around 16480. Play with your on risk with strict SL.

KushGhodasara

Nifty has been quite volatile last week with opening lower on Monday and then recovering almost 1000 points from the low by Friday end! During the this process of 1000 points difference between the Low and High, it has Engulfed previous weeks candle making a "Bullish Engulfing" pattern on weekly time frame with heavy volumes on Futures. But interestingly,...

KushGhodasara

#Nifty still into broadening formation but within this formation we are finding strong resistance at 15907 while support at 15612 which should be watched out today!

KushGhodasara

Positional Call: Buy BANKNIFTY fut near 35228 tgts 35990/37300 SL: 34455 Bank Nifty future seems to be trading in strong upside channel. Recently it has pinched a low exactly at support and interestingly low coincides with 3 candles recently at same levels. With yesterdays close it gave birth to morning star pattern which is confirmed today with a new high...

KushGhodasara

Banking stocks are in momentum and RBL Bank Fut looks strong at 218.45 and could give breakout at channel. Stop loss on the downside can be at 23 DSMA. Positional Call: Buy RBLBANK fut near 218 tgt 231 sl 211