it seems nifty pharma is ready to come out from zone.....i used renko chart to understand the trend as it help to understand clearly if any changes happening in the underlying trend...
I have been accumulating pharma stocks (basket approach) from last 1 years based on mathematical model.
Till the time nifty auto index is above the support zone highlighted in red, it is in bull phase....
I had UTI transport fund as a basket approach. UTI transport fund is replica of auto index...
Nifty IT index is at Crucial juncture, either it should bounce back from here or there is further 10% correction on card.... But i believe risk and reward is in favor of long...
Suzlon is showing the strength in monthly chart. I think trend reversal in monthly chart is a good sign that there is something happening which is favorable of the company. it is just a tutorial purpose and should be consider a buy or sell recommendation.
bharti airtel has cracked from its all time high to 419 level...380-385 zone has been very good support area for the stock..it should halt here for 20-25% upmove otherwise stock will reach to 320 level....
Marico has made double top on weekly chart from Aug 2018 to Dec 2018. IT has corrected from 387 (27th Aug) to 282 on (8th October) and again reach 396 (17th Dec 2018) and then corrected to 330 from 390 and then move up.
Now, it has made similar price pattern. Made double top on weekly chart from Jan 20 to June 1 and in between corrected from 344 (20 jan 20) to...
Bajaj Finance is at crucial juncture...this is relative strength chart of Bajaj Finance vis a vis Bank Nifty...any break in the redline open the fast correction in the stock for atleast 15-20%
colgate has been moving in perfect classical pattern...it is taking support around 48 EMA if we see it on candlestick chart......so perfect buying time near that zone if it comes to that level...
Gold all time high was USD 1920 in SEP 2011, momentum is very strong and it seems it may cross previous high in 2020 itself. I have been accumulating gold since last 12-1 months but never imagine such fast move, it is almost 5% of my portfolio thru Gold ETF. I will continue my SIP till the momentum is strong. will press exit button once monthly MACD and RSI will...
On a monthly chart M&M seems to reached to previous congestion zone and it look like strong support on long term chart. The worst draw down seems to 10% from hereon but upside seems to be decent as MACD histogram is reversing. Seems to be good entry point for long term indicator.
Disclaimer: I am not SEBI registered analyst. This is not a buy or sell...
Kotak Bank is showing classical divergence in monthly chart. RSI is showing descending pattern (marked) while stock has reached new high. Earlier Trough of RSI which was formed after touching RSI > 70 line has broken while stock made new high in monthly chart. I think Rs. 150 correction from current level.
Previously stock made bottom while monthly RSI touched...
city union bank is at major support level. if it does not hold 180-186 zone chances of downside /correction is imminent.
Current price is kissing long term trend line. let see how the price pan out.
Reliance industries announced that deal with Aramco is for USD 75 bn but Saudi Aramco said it is only letter of intent. Still long way to go...Some of the past events / news showing that reliance is desperate to reduce debt so trying for stake sale.
GDR has given thumps up to AGM and closed 6% from previous closing price. But stock trend has broken which is...
