ParimalDevnath

ParimalDevnath

Double Top pattern. One may keep a small SL and go short. 660 can be the short term target.

ParimalDevnath

This is the third time that Nifty is not able to move above 100 DMA. Now holding below 100 DMA (we keep SL at this) Nifty may again come down towards 200 DMA.

ParimalDevnath

Consolidation. 100 DMA is the upper limit. So Nifty may see the previous high and face resistance. Market action may remain muted till the market players return from holidays. OI Table: 10500 is the highest Put OI whereas resistance is moved towards 11200 Call.

ParimalDevnath

A Contracting Triangle pattern in the making. CT is a difficult pattern to trade. Price may jump on to either of the sides. At present TCS has a short term negative bias.

ParimalDevnath

SBIN has to face resistance at 311 and 322 where bears are sitting tight. It has strong support at 291. So price should consolidate in a band to make further up move. There is a Negative Divergence on Stochastic Oscillator. Bias is bullish.

ParimalDevnath

The Ascending Triangle has luckily played out quite well and price has broken out of the Pitchfork resistance. Now it is time to look seriously at the OI table of RIL. Today bulls have written heavily at 1180 Put strike (697000 shares added) and 1220 Put strike (602000 shares added). So it is possible that price will comfortably be above 1220 level. Bears have...

ParimalDevnath

BajajFin has give good profit and there is a bullish candle. A Negative Divergence is in the offing. Maybe some pause will come by. BajajFinSv is yet to give a meaningful breakout of the bull Regular Flag. SL please. All the best.

ParimalDevnath

Bulls have added huge writing of calls at 11300 and 11400 strikes today. Bears have remained subdued. But bears are firm on holding onto 11500 Calls. Price is rising along side the Pitchfork resistance. If bulls dominate in this manner, there is a possibility of breakout above this resistance and thus 11500 resistance of bears may be pierced through. On weekly...

ParimalDevnath

The expected breakout has happened. Keep an SL of 3-4 points or as per your capacity (standard norm for SL is 1.5 to 2-3 percent of the total capital deployed) and also apply trailing SL. Since the target is big, it may take some time. Even if we can make half of the target, it is a successful trade. All the best!

ParimalDevnath

Have a look at the long term chart of Nifty. In last seven and half years of time, Nifty gave 3 big breakouts followed by reasonable correction in the second breakout. First breakout did not lead to any correction at all. Let us see what happens duding the present breakout. Breakout is a significant parameter in chart study. It says that traders and investors are...

ParimalDevnath

In the previous post on this stock I mentioned that we should wait till a chart pattern is formed. At present RIL chart is forming an Ascending Triangle pattern which has bullish undertone. Price is at breakout point. A breakout will take price to new height. Measurement of the pattern is 27 point. SL is a must since we don't know what may happen next moment in...

ParimalDevnath Updated 

Straight Flagpole and now a Bullish Flag is in the making. Price reached 200 DMA which is decisive. A breakout is in the office and price above 200 DMA at 282 will boost the bullish sentiment. SL please.

ParimalDevnath

The duo is making bullish Flag pattern and may breakout if market condition is favorable. Use SL.

ParimalDevnath

Nifty did not do anything today worth the salt. Moved in a small range. Cause may be resistance and Negative Divergence on Stochastic. We may expect this kind of move for a few more days. Long term bias is bullish due to breakout on all three timeframes. But short term movement can be choppy. OI Table: Bears have raised their position significantly at 11500 Calls...

ParimalDevnath

Nifty is supposed to halt at the resistance of Pitchfork. Will consolidate around here. Bulls are holding onto 11000 Puts and bears have increased position at 11500 Calls. So Nifty will take time to flirt in the range of 11400 to 11450-70. Since it is a breakout on all three timeframes, dips will be bought out till the breakout level is held which is at 15 DMA..

ParimalDevnath

Broke out the Fla and a swift gain. If you have not booked out, may hold for some more gain. SL please. Trading is a high risk high gain job. Have trust in patterns.

ParimalDevnath

Flag. About to breakout. SL is must. Trade at your own risk.

ParimalDevnath

Flag formation. Flagpole is a straight line. May breakout. Buy only on breakout. Have SL. Risk is yours.