Indianmarket
NIFTY MAY EXPIRYNIfty is trading in a range for an long time. A break and sustain above the range with other supporting factors can be considered as bullish trend.Until that trade within the range.
This is not financial advice. In order to make the best financial decision that suits your own needs, you must conduct your own research.
Nifty May Show Correction on the starting of this Week.As we know that Nifty 50 perform well in last days of previous expiry but, now Nifty 50 made a Broadening Bottom and Top in 15 min timeframe. If this is broken in down side then we have good opportunity to short Nifty 50 because as you can see RSI also show the downside divergence . But the overall trend is Long, so trade carefully. And the chart pattern which is made by Nifty 50 is also a 'Continuation Chart Pattern' so trade accordingly.
In the long term Indian Market might touch around 12500Analysing the long term graph with a daily candle we can see that in the Fibonacci retracement the market can show a year low even at 12500 and as the coronavirus cases in India showing a reverse pattern to NIFTY so we can definitely expect some bearishness in the short term in the market but the virus might touch its peak sooner or later but the direction of the market might also be affected by the effect on Indian Economy which is going to be bad for 2 consecutive years. Also, the markets at the 15000 level are overpriced due to the entry of a lot of retail investors into the market this year. But the market is surely overpriced and can correct even till 12500 levels.
Nifty is likely to open up 1% positiveAs per the news all the negative things are getting over the market but it is a bull market so markets are getting bottom out.
Technicals -Nifty is making W pattern with having support of RSI at 60 and ADX bottoming out above 25 .
Technicals are looking postive with SGX Nifty above 200 points now
Trade Setup - Bank nifty (intraday)Hi Traders,
Enter a position after breakout from the red zones in 5m TF. We recommend a position on retest at the zone in 5m TF. Reversals from these zones can be taken based on price action. Please use proper risk management.
Note:-
1. Trades are to be taken based on price action in 5m TF.
Happy trading.....
NATCOPHARM Can Be Good For Holding From HereNSE:NATCOPHARM We can add this script in our portfolio for long run lets discuss about chart view first and then target and sl.
As you can see on chart it was correcting from long time ago and as per price action rules, Stock will start doing consolidation after a huge fall or huge bull run.. The same scenario visible with this scrpt. After looking at current consolidation we can say there can be huge bull run possible in comming days. You can keep in Watch-List If you don't want to participate this you can keep your view on this.
Let's look at level :
Entry : 835
Target : 900++
SL : 775
Thnaks,
-UD Trend
Disclaimer : All Suggestions And Calls Will Be Pure Educational & Self Examination Purpose Only You Can Take Advise Of Your Financial Advisor As Secuirity Market Linked With High Risk.
PNB Channel Breakout and next targetsPNB has finally broken a strong resistance of a channel in which it has been stuck since the Corona impacted equity markets.
With the breakout happening with high volumes and a s series of higher lows, we can see that it shall possibly sustain and reach up to the level of 59 in near future. Next target after 59 we can see is 68.
For those who are not already holding it may take an entry at retest of the channel resistance, which is now a support region.
India - Long TermLong term, emerging market should outperform US due to high growth potential. India ETF looks particularly interesting to me.
Reasons:
1. Price just broke out of a long horizontal rectangle. Although you are not going to see massive price moves, it is a great asset to own.
2. India is one of the only countries focusing on reducing debt vs increasing in the next 12 months.
3. India is absolute monster in IT space which is the future.
Happy Wednesday, its never wrong to pull profits.
BEL Price action BEL seems to come out of box along with making a reverse head and shoulder pattern. Trade with targets of upto 170 , keeping stop loss at level of right shoulder i.e. around 88. The company also seems to improve fundamentally with healthy dividend payout , almost debt free and increased cash flow and assets.