at
4:30 PM
Posted by
Dhawal Joshi
|
Nifty 5326
On weekly
chart; Last week Nifty has crossed two important resistance level of 5174 and
5300 on closing basis. After almost 15 months; Nifty has broken upper end of
pricing channel pattern on closing basis. Weekly oscillators are also
accompanied with buy signal. Next major resistance placed at 5433 level for
validating intermediate term uptrend. Major support placed at 5200 levels.
Finantech
future 779
Stock was in
continuous uptrend since start of the year and last week stock has entered in
over boutght zone. On Friday stock has formed “Bearish Engulf” a bearish
candlestick pattern on daily chart and it seems uptrend is surrendered; in
continuation to this last candle of the pattern is “Black Opening Marubozu”
which is more bearish sign for the stock. Intra day chart has also formed lower
lows lower highs. Looking at all above technical factor move below 776 will
invite more selling in counter.
Sell below 776
sl 790 tgt 753
Mcleod Russel
200
Stock has
formed “Long White Candle” a bullish candlestick pattern on daily chart.
Intraday chart has also formed higher highs higher lows pattern. Daily momentum
indicators are also genarting buy signal. Weekly RSI has given positive cut to
signal line. Looking at all above technical factor move above 201 will invite
more buying in counter.
Buy above 201
sl 196 tgt 211
at
4:53 AM
Posted by
Dhawal Joshi
|
Nifty (4970) – Black Opening Marubozu
After making Deliberation pattern on Monday, yesterday Nifty has formed “Black Opening Marubozu” a bearish candlestick pattern and dragged Nifty to below 200 Days SMA , which is placed at 5005 levels, more over Nifty has also broken 50 % retracement level of 5035 levels. Daily momentum indicators are showing sign of weakness after yesterday’s big down fall. Now again Strong support shifted down to 4900 levels but traders should reduce long position as Nifty is trading below 200 SMA and immediate resistance placed at 5005 – 5035 levels.
United Phose (175.40) – Dark Cloud Cover
Stock has tested two important resistance of 177 – 184 in last two days but unable to sustain on closing basis and yesterday stock has formed “Dark Cloud Cover” a bearish candlestick pattern on daily chart. Weekly chart also making high wave pattern with longer upper shadow, which technically suggests supply at higher level. Daily momentum indicators are also showing sign of weakness. Looking at all above technical aspects traders with High risk appetite can consider Sell below Rs.173 with tight stop loss of Rs.179 for a Target of Rs.160.
Cipla (324) – Ascending Triangle
Stock has formed “Ascending Triangle” a bullish continuation pattern on daily chart with decent volume breakout. Short term moving averages are indicating upward movement; momentum indicators are also forming higher highs in bullish zone. Looking at all above parameter traders with moderate risk appetite can consider buy above Rs. 325 with tight SL of Rs. 320 on closing basis for a Target of Rs.342.
Disclaimer: Any action you choose to take in the markets is totally your own responsibility. candleseye.Com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
at
4:46 AM
Posted by
Dhawal Joshi
|
Nifty (5086.30)
Nifty has formed “DOJI” an indecisive pattern on daily chart but lower shadow of the DOJI is almost four times of Body which depicts buying seen at lower level. Daily momentum indicators are generating mix signal at this point of time. Next immediate support placed at 5035 levels and immediate resistance placed at 5120 level, either side breakout will provide us continuation of trend. 200 days EMA placed at 5003 level and as long as this level survives on closing basis trend is likely to remain up.
Mundra Port (696.45)
Yesterday stock has formed “Long White Candle” with decent volume breakout on daily chart. 3 days EMA has given positive crossover to 8 days EMA and also stock has given strong close above 20 days EMA. Daily momentum indicators RSI and Stochastic are featuring in bullish zone. Looking at all above technical parameters traders with moderate risk appetite can consider Buy in range of Rs697-694 with tight stop loss of Rs.683 for a Target of Rs.724.
Neyveli lignite (148.40)
After making low of 138 on 27 May 2010, since then stock is making higher highs and higher lows and it seems stock is bottomed out. 3 days EMA has given positive crossover to 8 days EMA and also stock has given strong close above 20 & 50 days EMA. Four and half month old downward slopping trend line breakout placed at 149 levels. Looking at all above technical parameters traders with moderate risk appetite can consider Buy above Rs.149 with tight stop loss of Rs.145 for a Target of Rs.156.
Disclaimer: Any action you choose to take in the markets is totally your own responsibility.candleseye.Com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
