nifty energylooking into the energy stocks. development of wave b is underway. The bounceback is expected in energy stocks. All the best.
CNXENERGY trade ideas
NIFTY ENERGY NIFTY ENERGY - Failed retest by bulls
Energy is usually the last one to fall. Also, if you observe the global cues, energy crashed in the last in 2008 crises.
SHORT!!
Nifty Energy downAs i have already mentioned in my previous analysis. I clearly stated that Nifty energy will be down for upcoming few weeks. Because the market was getting help with energy sector and backing it up for last few weeks. Now that support breaks, so we can say that it will be further down.
Nifty Energy IndexNifty energy index has given a nice up flag breakout last week on a weekly chart. Now we can expect this index to go up to 6500 on weekly basis. Please keep an eye on Reliance, Tata Power, Jsw energy, Suzlon etc. If you see a breakout on energy stocks, take a position for medium term.
Target- 6500
#CNXENERGY - No longs for short termAppears Energy index is going to take a pause hence for very short term view is sideways to bearish. Bearish -Ve divergence is clearly spotted and that will come in play soon. Hence good to wait before initiating Buy trades from energy index. Keep eyes !!!
CNXENERGY (OIL & ENERGY - NSE) Analysis For December 08, 2021NIFTYENERGY INDEX failed to break the top 23235 and it has formed TRIPPLE TOP pattern. Be watchful for the level of 23160, below that it may change direction to down trend. Important supports are 23090, 23045, 23000. Important resistences are 23320 & 23370. Current trend view is neutral to down trend below 23320.
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Reverse head and shouldersBuy energy stocks on the strong breakout of reverse head and shoulders of nifty energy
Energy index vs Nifty 50 Energy index vs Nifty 50 indicates energy stocks are likely to perform in days to come
Major Support level / Invest Idea #3NIFTY ENERGY: 10% upside potential.
When it reaches 15600-700
Look for Swing buy in top 5 companies:
RELIANCE
IOC
BPCL
HINDPETRO
ONGC
DISCLAIMER: TRADE AT YOUR OWN RISK. KINDLY TAKE DECISIONS INDEPENDENTLY AND DO NOT CONSIDER THIS ANALYSIS A RECOMMENDATION.
Thanks,
Cheers to short term Investments!
Best luck - 'Siddharth Sehgal'
#srs #srsenrique #NIFTYENERGY #niftyenergy #stocktraderchannel #siddharthsrs #nifty #reliance
