The hourly chart of National Alum does indicate a change in trend from bearish. The buying started @ 174 after which it breached the resistance @ 178 as well. I am going long with a support at 178 for target of around 190. #Educational purpose only
There was a strong bullish breakout in the Daily chart of SBIN on the 25th April. This resistance now becomes a support at 793 which was respected yesterday. The candle made today isn't very strong but the trend is clearly bullish. My idea would be to buy with SL below 793 and targets of 830 and 850. Educational purpose only
There are 2 points to be noticed in the daily chart of REC Ltd 1. There was a breakout from the downtrend on 26th April 2. The resistance was broken on 2nd May but then we saw a selling pressure in the stock but the candle made today is a decent bullish candle and this could be a breakout as well. Can buy for targets of 570 & 590. Educational purpose only
Another breakdown in the daily chart of HDFC Bank. It has respected support at 1480 but we may see a dip if the same is broken. There is a sort of a double top pattern made before the breakdown which makes me bearish. Can sell for targets below 1420. Educational purpose only
The trend in the daily chart of Coal India is bullish. The candle today has closed above the resistance. We may see 500 levels soon. Educational purpose only
There was a trend breakdown in the daily chart of PNB. There was a reversal attempt today which failed. Can go short for target of 114/115 Educational purpose only #PNB #bear #trade
There is a breakdown in the daily chart of IEX Can go short for targets of 140 & 130. Educational purpose only #IEX #bearish #trade
40000 is the resistance level that we need to watch. The chart is weak and has broken the supporting trendline before and after which the trend has started to stoop low. I was say, wait and watch. There is a support at 39000 which may not be easy to break but the chart doesn't give me much of a confidence.
06-12 Hourly chart of MPHASIS1! LTP: 2104.50 Book rule says that the trend is positive if the candles are trading above 200 EMA and the strategy should be buy on dips. There is a bullish crossover between 100 EMA and 200 EMA. I've gone long strictly for intraday only. Manual support zone is between 2020 and 2032 whereas the support according to 200 EMA is at 2036.90.
05-12 Daily chart of HINDCOPPER1! LTP: 122.45 Trend (manual and 200 EMA) are bullish. The candles are attempting a breakout from the symmetrical triangle pattern. Targets according to Fibonacci is 128 and 140.
05-12 Daily chart of NIFTY1! LTP: 18817.75 Seems like a breakout from the old bullish symmetrical triangle pattern. Resistance made at 18998.85 (manual). Supports are at 18004.70 (manual) 17302.15 (200 EMA). The gap between candles and 200 EMA is uncomfortable but the trend is bullish. Strategy should be buy on dips.
05-12 DAILY CHART OF DEEPAKNTR1! LTP: 2232.75 the trend (manual and 200 ema) is bullish. the candles have respected the resisting trendline (manual) supports are at 2134.25 (manual) and 2094.65 (200 ema) RSI is bullish and strong as well. i just bought deepakntr1! for trading (intraday or BTST)
05-12 Daily chart of RAMCOCEM1! LTP: 695.20 RSI looks strong and bullish Support at 675.10 (manual) Resistances at 744.65 (200 EMA) and 777.75 (manual) Looks like a buy opportunity for swing traders and sell on rise for positional traders.
02-12 Daily chart of BRITANNIA1! LTP: 4417.75 There is a clear bearish divergence in RSI. The candles are now resisting the highs. The gap between 200 EMA and the candles is not healthy. Aggressive traders can go short and safe traders can wait for 4200 levels to buy on dips.
01-12 Daily chart of HINDALCO1! LTP: 465.60 The pattern looks like the bullish ascending triangle. The supports are at 426.90 (200 EMA) and 424.65 (manual). Candles holding strong above 200 EMA is a bullish signal. I have gone long for short term trade
01-12 Daily chart of HDFCBANK1! LTP: 1638.25 The candles are respecting the resistance (manual) between 1643 and 1645. This zone looks strong and it won't be easy to break and sustain above this. The supports are at 1515 (manual) and 1470.45 (200 EMA) RSI is bearish and shows a bearish divergence as well. This means that the stock is not losing strength. The...
01-12 Daily chart of ITC1! LTP: 342.55 The RSI looks weak. The setup is bearish and it is under the 50 mark which indicates weakness The candles did breach the resistance (manual) at 349.15 but couldn't hold and have been respecting the resistance. Support (200 EMA) is at 300 and the gap between the candles and 200 EMA is not comfortable. I have gone short for intraday.
30-11 Hourly chart of BANKNIFTY1! LTP: 43387.20 RSI shows weakness and bearish divergence. Overall trends (manual and 200 EMA) are bullish but the weakness may indicate profit booking which might bring down the rates. Following the thumb rule, follow the trend, I will wait for the candles to come down to 42500 or so and wait for a bullish reversal before going...