Reliance Industries Reliance industries is forming a parallelogram pattern with formation of Higher Top and Higher bottom formation on daily chart in short term time frame. Reliance was the savior for Nifty for past 2 days when banks were bleeding heavily due to crude rising above 90$ which was negative for Banks but positive for… Read More »
Bank Nifty Bank Nifty forming a ascending triangle formation with upper trendline acting as resistance with 50 DMA acting as resistance and lower trendline acting as support Bank Nifty is a buy only above todays high and Sell below lower trendline level Buy above 12429 Tgt 12582 and 12734 Sell Below 12000 Tgt 11898 ,11746… Read More »
HDFC BANK HDFC Bank is having trading range between 2260 to 2400 where it gets resisted by upper trend line and on downside gets support at lower trendline.Daily chart of HDFC bank is displayed below with upper and lower trend lines. RSI is showing a clear negative divergence MACD is showing positive crossover. Stock has… Read More »
Nifty after 3 weeks of downfall which was overshadowed by scams and technical correction. I anticipated a bounce back in coming week in last week Nifty Technical Analysis [Click on Link to Read about it] . As anticipated nifty gave a good bounce back close to 4% on weekly basis,on the news Indian economy growing… Read More »
Jain Irrigation Forming Triple top @245 crossing over it with volumes can take the stock to new highs levels Buy above 245 Tgt 248,255 and 266 Ranbaxy Labs Ranbaxy Labs is unable to cross 50 SMA @583.Today also tried to cross it but selling pressure from higher levels made the stock to close below crucial… Read More »
Three Black Crows As the name suggests, the three black crows candlestick formation consists of three large, consecutive, declining candles. The formation precludes lower prices, especially after a strong advance higher. The three candles should all close near the lows of the bar and ideally each bar should open within the prior sessions real body.… Read More »
Hindalco Industries Stock is moving into channel but closed below 5 Day Low EMA and Dollar index crossing 80+ can hurt the stock on upside and downside will continue. Short Hindalco below 201.40 Tgt 200.6 ,197.5 ,194.2 ,191.2 Sl 203.9 US Dollar Index Charts US dollar crossed 50 DMA @78 and moving towards 82 levels… Read More »
SBIN Daily Chart SBI is forming an ascending triangle formation with support around rs 2780 levels and resistance around 5 EMA 2905 levels. Stock has fallen from a high of 3400 to a low of 2700 in a matter of few trading sessions and a bounce till 3000 can be excepted for the stock. RSI,MACD… Read More »
*About Bull Market Corrections** We look back to 17 years of market (BSESensex) history to assimilate data on bull market corrections. There have been four bull markets over the past 17 years (including the current one), and within those bull markets there have been 32 corrections of 5% or more (including the current one). The… Read More »
Another Scam Brewing in Indian Stock Market Central Bureau of Investigation (CBI) had questioned the top officials of the two entities in connection with an alleged multi-crore fake home loans scandal. Shares of LIC Housing Finance and Central Bank of India plunged in late afternoon trade on Wednesday after media reports suggested that the Central… Read More »