Nifty Hourly Chart Nifty Did a U-Turn again and took everyone by surprise on its move on Last thursday. This move shows highly unpredicatble nature of market. Market always follow the path of Least Resistance On Hourly chart market has broken the downward trending trendline as Shown in chart. Next level of Resistance comes @5510… 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 »
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 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 »
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 »
Nifty Hourly Nifty Hourly Charts are respecting the trend lines both on Upper end@5600 and on lower end @5440. Break on either side only will give range breakout. from this tight 200 point range. Hourly was oversold and hence Nifty showed the much expected bounce but unable to cross the upper trendline @5600. Market always… Read More »
WIPRO Wipro is looking weak on Daily charts as it near its lower end of trendline.Wipro is unable to cross short term moving average of 50 SMA making it a sell on rise candidate. Volume are lower end and a break of trendline low can lead ti a breakdown till rs 400 is possible on… Read More »
Nifty Hourly Nifty Houlry chart has been trading in a range of 5503-5492 for this week.A sideways move after 9 days of correction we saw. As I have pointed in Weekly Analysis that 5595(Weekly Pivot) is am Important level which should be crossed for market to move till 5630 levels.Nifty is unable to cross this… Read More »
Jubilant Food Jubilant Food has been on a dream run from the day it listed and today it made a life time high@807 and moving into uncharted territory.Stock has been respecting its trend lines resisting at top end and taking support at lower end. As per the above daily chart a pullback should be… Read More »
Nifty Hourly Chart On Hourly chart Nifty took support at the down trending trendline as shown in chart. 5450 levels proved to be a good support and a bounce back materialized from that levels ending the loss making streak of Nifty from past 9 sessions. Nifty closed the week with a loss of 3.4% shaving… Read More »