it will need time to get charged back. The scrip may go down for a while and correct till 38500, after that it may go back northwards. Long term bullishness may stay intact.
A Quick Overview of Global Major Economies
Japan, US, UK, Australia, Germany are officially in Recession
USA has not declared Recession officially as it is just covering up the underlying problem
Chinese Economy is in serious turmoil
Now where does India Stand?
Which Sectors within India are dependent on these Foreign Economies?
Which Sectors are in...
cnx energy current hot topic in market. but we seen some profit booking 1st.
dont blindly enter at this stage. wait for correction and then decide.
min 5 to 10% correction possible.
The Market has the habit of Shrugging-off Weak Hands every once in a while by creating a "Panic Sell-Off" Scenario. The most popular arguments that we get to see are
1) Long Term Investors - Be Patient - ignore noise - avoid looking at markets daily
2) Traders - Every stock has to have a SL. Else short Term bets will turn long investments unnecessarily
While...
Negative divergence seen on #cnxenergy on Daily timeframe, we would be looking at a crack of minimum 1800-2000 points here. Traders can look for week energy stocks and short them. Traders should stop out once the index trades and sustains above 33800!
Remember the Great Sudden Multi-Sector Fall of Dec 20, 2023 where Almost all Sectors of NSE/BSE fell together ???
Refer our 8 Part Series - Decoding the Mystery of the Dec 20 Fall for more explanation of why we faced Major Selling Pressure Across Sectors
Is there a possibility of something Similar on the New Year Week ??? - Before we say Yes / No - let's first...
5. Nifty Energy -2.68% fall
3Months / Monthly - After a steep rise initially - the sector has reduced the angle of growth - forming an upward parallel Channel with an Embedded Flag Pattern - BO is also done 6 months back
Weekly - Precise Rejection from the Long Term Trendline Resistance. See how beautifully it touches the top of the Green candle and cuts thru...
The Nifty Energy index seems to have started off in wave v of 3.
28250 would be the target if the fifth wave does not extend, In case the fifth wave does extend even 29000-29200 could be the possible target zone for the index.
Note*- this post is for educational purpose only
Comparatively, including the IT sector it has been a sort of spoil sport, but currently after crossing the blue zone, this sector can give promising range bound trades.
Why range bound is the question, because it gives me Entry SL and target, nothing else.
Do your own research, and analysis, worth watching now for study purposes.
Energy sector is most impacted in the current covid correction, There is a significant fall in the sectoral stocks and the index is breaking down from a triangle type pattern, keep energy stocks in radar.
this fall could take a bit more time, then drawn on chart, but from chart we could clearly see that nifty energy is overvalued.
in all time frame, the rsi currently is at 60, the average, or the mostly rsi being in the chart is around 50. although, it has been falling, and yet following a triangle pattern. there could be a downside, fall.
the dark black line is...
As per analysis FII are taking there money out from It stocks and Putting in energy stocks
Nifty Energy index is in triangle pattern after breakout we may see all time high being broken
Be ready now you can see tata power, adani power,Reliance , all other energy stocks moving well
It's my analysis do your own before investing
