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NIFTY 50: Powerful uptrend, buy dips, buy breakoutsThe NIFTY 50 index has showed nothing but sheer uncorrelated strength this year. The trend remains strong, and the market has acknowledged the weekly uptrend mode support here. If during the next 2 weeks, price doesn't drop further, we can long it safely. If we break above 8831.55 before that time runs out, bears will be in trouble too. Keep an eye on the uptrend slope, indicated by the speed line under the current prices. This line has to hold if we see a retracement. You can use an ATR based stop loss to trade this trend. 3 times the 11 period ATR value is a good start. Right now, we can buy on a break above Friday's high and stop at Friday's low. There's plenty of time to get further bullish confirmation, don't risk over 1% on any given trade. Good luck, Ivan Labrie.
NSE:NIFTYLong
by IvanLabrie
2
Nifty updated count [Pls read description before foll. arrows]The Nifty uptrend continues. The 1st target of 8770 is achieved. It's just that the structure formed is slightly different than the one shown earlier (previous ideas links attached). The updated one is shown in the chart. However, SLs and targets remain the same. Now, the SL is 8540 (from 8515). Any pullback can be bought at the fib retracement levels of the current up move. IF there is a retest of the 0-b trendline of the corrective structure (as shown by the dashed arrows), then it'll be another great opportunity for adding longs (like it happened on 8 July 2016 shown by the bold arrows). Else , the up move will continue. Do not short anywhere. Targets are 8860, then 9150. Basically, just be alert once Nifty reaches the UTL. Any move below the LTL (which may or may not happen) could result in the start of the correction of this entire up move, but till then trend is up.
NSE:NIFTYLong
by tushargupta1991
1
Adani Enterprises can move further downNSE:ADANIENT CLSA has downgraded its rating on Adani Enterprises BSE -1.43 % to 'sell' from 'underperform' due to continued margin pressures in its mainstay coal trading business and potential write-down at its Carmichael coal venture. "Coal trading Ebitda for 1Q was less than US$1/t (Rs60/t) - down 76% YoY, with segment profit at three-year lows. ADE (Adani Enterprises) expects that the coal import volumes will not collapse as feared, due to cost benefits for customers near coastal areas .. One can expect a Accelerated downward movement towards 68 levels before any support comes in and any weakness further from 68 can results in swift movement towards 60 levels
NSE:ADANIENTShort
by Sg_bangalore
Bullish on MRF (Long term) - Another opportunity to enterMRF has broken out of a high degree downtrend and is consolidating above the UTL (of the entire move down). Any move above the UTL (of the current consolidation) could be a good entry point for holding it till a target to new highs. This is in continuation of the previous post on MRF, in case that was missed (link attached). The fib levels would act as support. So the up move could start from one of them or from the long term downward sloping trendlines of the downtrend.
NSE:MRFLong
by tushargupta1991
TATA Power adds more power to their Kitty!NSE:TATAPOWER Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, Cennergi (Pty) announced commencement of commercial operations for its 95 MW Tsitsikamma Community wind farm project on Thursday. Technically on weekly chart, price is moving up from a significant base formation and consolidation. I expect price to hit 90 levels over next few months. Keep 70 levels as stop-loss and trade cautiously. Volume spike over last two spikes indicate that smart money is investing in the script.
NSE:TATAPOWERLong
by Sg_bangalore
NMDC ...breakout after consolidationNSE:NMDC .NMDC India's largest Iron ore producer is going to benefit from firming of Global prices. With the revision of Chinese GDP growth rate by Moody's, I expect commodity prices to hold its reins over next few months. NMDC has formed firm base around 90-100 levels and It has consolidated over six months. It is on the verge of breakout from cloud and Momentum is visible both on weekly and daily charts. One can expect 130 levels over next few month. Keep your stop loss around 90 and trade cautiously.
NSE:NMDCLong
by Sg_bangalore
Bullish on DHP India (short term and long term)DHP India just seems to be starting a major uptrend. It's possible we're at the wave 2 low and hence a great opportunity to go long. RSI has also taken support at the 40 level. (Confirmation of wave 2 low would be after a close above the UTL.) Ideally, wave 2 shouldn't be broken. A move and close inside the 0-B trendline could be a big spoiler for this count. However, a reversal right from the 0-B trendline would be further bullish.
BSE:DHPINDLong
by tushargupta1991