Reliance has been correcting continuously after the rumours of health issues of Mukesh Ambani. The undercurrent however was rationalisation and consolidation after a solid upmove. The news flow stopped and whatever was due was bad news regarding Future Retail deal. Perfect time to enforce correction. Anyways reliance has had its share of limelight and next...
Nifty could hold on to the gains of today but couldn't seem to breach and hold previous Highs of 12960. This could very well mean distribution at higher level for an impending fast correction. Especially when we are already seeing bank nifty getting weak. Reliance and IT were main contributories to this movement but both the counters look to retreat and take...
Bank nifty is likely to take support at 28600 at 21 days EMA or if that's breached then 28300 at dowarda wedge of previous Highs.
Apollo Hospitals has approached it's multi year trend line negating covid turbulence from April to July. Historically, for Apollo Hospitals RSI has been a critical indicator suggesting whether to expect the trend line to be a Support or resistance. After the quarterly result blues are over, RSI indicates that stock is ready to approach and cross the multi year...
Nifty has shrugg off covid blues and is back in its long term channel she has been following since Sept-18. 10-12% move in either direction is due now. I would incline to bearish movement because: 1 No news (positive/negative) expected 2. FTSE Rebalancing and effective pouring of FII money already factored into future data since Nov series beginning 3. RSI...
Bajaj Auto has been following a clear trend line with topside resistance. A parallel trend line with bottom matching makes it a 339 point channel. Ignoring the covid impact from April to July the stock has been properly following the channel and gives a great call / put buying opportunity with minimal time decay to premium as it arises just a week before expiry...