Nifty Weekly Update:
1. Crucial Bull Resistance was 21894 & bear support was 21351;
2. However it managed to break Bull resistance and close above indicating more rally upside.
3. It will not be a one way rally & we believe both the level will be retested this week before going up; if not one
On any panic, Buy; if you get near bear resistance add in tons!!!!
#ASIANPAINT Looks for a huge panic of 10-15%; It gives a bullish pattern on 1HR-4HR; however use the raise to sell the rally. We see huge panic in couple of months.
Sell & Hold patiently.
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BankNifty is currently in No trade zone;
1. Breakout on either side will create more significant move
2. Place your buy/sell trigger order below the support/resistance level for profit
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#NIFTY50;
1. Holded last week fall, creating a corrective sequence and bouncing from equal legs.
2. However as far as last week holds, we can see a test of major hurdle areas.
3. Better to stay side ways and wait for breakout on upside, and if it happens then go long
4. On last Friday low if it breaks, still it can do a corrective leg not breaking the major...
1. Nifty has been very bullish recent times.
2.The corrections are very shallow ending up at 61.8---76% retracements of highs. This adds to the high bullishness across traders across zones.
3. FII are starting up to play on the long side
4. Great market trigger from governments adds to the sentiment.
With the above & short term wedge formation in NIFTY, one can...
Nifty looks to be doing a flat and may sell on close below EMA 9 for more downside.
We don’t suggest selling rally and better to stay away from sell off days and keep a very strict stop loss on your long positions.
Below 21327 if sustain,
Nifty can Panic to 20703------20680 levels.
CHOLAINVESTEMENT & FINANCE is currently at a major weekly breakout,
1. The chart pattern suggests on breakout with volume may signify further downside upto 8-10% minimum
2. RSI is slightly getting into buy zone- which implies after breakout confirmation one can sell rally
3. MACD shows that momentum are gaining favouring the bear side.
Conculsion: The stock...
USDINR:
1. The dollar pairs is being consolidated into a proce bound range for couple of days.
2. Now break out has potential upside of 3-4% from current price with more increase in volume
3. With stop of 82.99 one can go long for target of 83.44-----83.87 & then 84.10++ Levels.
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29th Jan 2023 + week;
1. Nifty can retrace the fall from ATH, as it shows bullish breakout in 1 H which leads to 4H breakouts too.
2. This retrace can be between 50-----76.2 fibnocci retracement of the fall from ATH
3. Don't suggest selling the retreat as the falling wedge target crosses ATH as well.
4. And May fall to retest the last week low to make another...
1. Nifty Auto, any rally to fail and can be used for selling
2. once break and close below the TL can slump -20%, Sharp panic is possible
3. One can go short on AUTO stocks on rise and break below will confirm more downside.
4. MARUTHI, HERO, M&M, TVS are the stocks which are looking worst for a huge correction.
Disclaimer: The above ideas are my personal view...
