DLF Limited DLF is trading a small range from past 3-4 Trading sessions forming lower highs and respecting its both upper and downward trendline. Break of the Range will give momentum on upside or downside. DLF is trading around its 5 EMA LOW and break/close of the same will give a impulsive down move. RSI… Read More »
Bank Nifty Bank Nifty is also forming a Flag and Pole Pattern and target Looks very scary. Financials forms 28% of our Index and bank Nifty is very near to its Feb Low of 10017.If bank Nifty breaks this level than we have next support around 9100 Levels only as shown in chart. Always use… Read More »
WIPRO Ltd Wipro has been a range bound Stock from almost a year. Weekly Chart of Wipro is shown range bound Moves in the Range of Rs 372-500. Stock is forming a higher bottom on each fall and a Higher High before a fall which is a bullish case. Presently stock is facing a trendline… Read More »
Nifty Hourly Chart Nifty Hourly chart on Friday was a classical example of Support becoming Resistance in a downtrend. As seen from the above Hourly charts we can observe that 5510-5515 was a support for Nifty during the fall where Nifty consolidated before the fall and now the same support has become resistance during the… Read More »
Nifty Hourly Chart Nifty gave a Breakdown at much publicized 5471 levels and from past 2 days trading in a small range. Yesterday was an Inside day,Inside day basically means when an Stocks is unable to break High and Low of Previous day. Nifty was unable to break and was trading in a… Read More »
Nifty has been correcting from past few trading sessions and technically looking week. I have analysis ed the chart of 3 Heavyweight (RIL,TELCO and Hindalco)which can give us clue about Nifty moves in coming Days. Reliance Industries RIL has done nothing from past 2 years.The above is Weekly chart of RIL for 2 years.RIL has… Read More »
Nifty Daily Chart As said in previous Post Nifty is looking weak technically as unable to retrace 38.2% of its fall and Break of 5471 will make it correct furthur. Charts discount everything and SBI results proved a Reason for Breakdown How Long can this fall continue? IF we draw the trendline from Low of… Read More »
State Bank of India What an Earning shocker for Indian’s Largest bank and collapse in Stock. State Bank of India’s fourth quarter net profit tumbled 98.8% YoY to INR 208.8 Mn on higher provisioning against non-performing assets and gratuity. SBI broke its important short term support at 2500 and stock quickly gave a 100… Read More »
Tata Steel Tata Steel is at a crucial juncture @574,Level which has given support to Tata Steel 4 times on daily chart as can be seen in below chart. Stock is trading below its 5 EMA Low@583 which should be watched closely if Tata Steel again bounce back from 574 levels. Indicators are showing oversold… Read More »
Godrej Industries Godrej Industries is approaching its trendline resistance as shown in below daily charts. Trading range is getting smaller and in a tight range.Range breakout should happen on either breakdown or breakout. Buy above 198.5 Tgt 201,206 and 212 SL 196 Sell below 186.1 Tgt 181.4,176.7 Sl 188 BHEL Laxam Rekha for… Read More »