IamAStudentOfTheMarket

IamAStudentOfTheMarket

Nifty PSU Bank Index gave a trendline breakout on the log chart today. It is possibly heading towards 2650. A closing above 2650 would activate inverted head and shoulder targets of 3345 and 4245 respectively (Where weekly resistance zones exist).

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Ingersoll-Rand gave a flat breakout above 730 but faced resistance near 765 as shown in the sloping trendline from 1124.40 (life high made in 2015). If it sustains above 765 again, possible target zone is 810-830.

IamAStudentOfTheMarket Updated 

Nifty Smallcap 100 Index seems to have broken out based on the above trendline - Possible targets are 7600 and 7730.

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Inverted Head and Shoulder pattern breakout point appears to be 11585. A sustained breakout above it, may target 11985 zone. Resistance is at 11665 which is the 0.786 retracement of the recent fall from 11794. Immediate support is in the 11430-11465 zone.

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Reliance Industries has a possible Pole and Flag pattern. A decisive breakout above 2200 can activate the target of roughly 2600

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Nifty channel is shown above. On the downside, support is around 11360/11375 zone. If Nifty manages to cross 11555, we maybe headed towards 11635 followed by 11785 and 11865 in the next 7-8 days.

IamAStudentOfTheMarket Updated 

As of closing on 21 August, the current support for NIFTY 50 is around the 11360 zone. Below 11360, supports are at: 11310 - Gap Fill Support 11243 - Trendline Support (moves higher as time progresses) If NIFTY 50 manages to hold 11243, and cross 11468, further upside till 11783 is possible in the coming days. Closing above 11783 can open up the possibility of...

IamAStudentOfTheMarket Updated 

Current Support for NIFTY is at 11520/11525 Sustaining below 11520 may open up the downside to 11379 (Gap fill area) or 11360/65 (Strong Support Zone). On the long side, If Nifty sustains above 11635, next possible target can be 11783 (Resistance zone). Possible longs may be initiated either at mentioned supports with appropriate stop losses in place or on...

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If Dow Jones manages to give a weekly close above 29000, it is possibly headed towards 35k-36k levels which may come much sooner than expected. Once it reaches its retracement target - which is near 36k, it could start a multi-year decline towards a multi-year low target of approx 7500. A crash of significant proportions is possible after reaching record highs...

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Mahindra & Mahindra M&M Weekly Chart is showing possible Triple RSI Divergence. RSI bounce from trendline support still pending.

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DCM Shriram Ltd. On a weekly closing above the trend line, could try for 500 levels again. Supports are at 380 and 365. Resistance zone around 500.

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Redington India could head towards 120, if it breaks out above the trendline. On a weekly closing above 120, we may see 155 levels in medium term. Support is in the zone of 87-90.

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KNR Constructions Possibly heading towards 283-290. Support is at 230. Above 290 could give a big breakout.

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Matrimony.com Breakout of trendline may give 750-775. Resistance levels are 750, 775 and 870. Supports are at 590, 535.

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NIFTY Smallcap 100 index has closed above its 200 day moving average for the first time in nearly 11 months. Today's closing is at 6653. 200 Day Simple Moving Average is at 6638. Support are currently at 6630, 6580 and 6515. Resistance levels are 6840, 6900, 6950 and 7000. A daily close above 7000 could really put the bulls in the front seat.

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NIFTY Smallcap 100 index has near-term resistance in the zone of 6615-6645. The index has faced tough resistance for a few trading sessions around these levels. 200 Day Simple Moving Average is at 6642. 200 Day Exponential Moving Average is at 6639. A daily close above 6645 would be positive.

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Nifty Spot closed at 11456 and Nifty futures at 11478 A fall of 460 points was witnessed in Dow on Friday, Dow futures closed at -474 SGX Nifty closed -63 points at 11407, which is a rough indicative of the Nifty futures level. It loosely translates to Nifty spot at 11385-11395. Support for Nifty spot is at 11380 followed by a gap support at 11350. 11350-11380...

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NIFTY Smallcap 100 has near-term resistance in the zone of 6625-6665. 200 Day Simple Moving Average is at 6663. 200 Day Exponential Moving Average is at 6643. A daily close above 6663 would be positive.