IamAStudentOfTheMarket

IamAStudentOfTheMarket

NIFTY Smallcap 100 has resistance in the zone of 6620. A closing above that, will be positive. A daily close above the 200 SMA level which is currently at 6683, will confirm that a bottom has been made and may turn the smallcaps bullish in the medium term. Resistances are currently at 6620/6900 Support is in the zone of 5680-5660.

IamAStudentOfTheMarket

Karnataka Bank - KTKBANK CMP 129.30 Broken the upside resistance of 127.5 and closed above it today. Trading at 52 week high. Short-term Target possibly 139-141. Stop Loss a close below 127.50

IamAStudentOfTheMarket

NIFTY Smallcap 100 has resistance in the zone of 6540-6570. A closing above that, will be positive. A daily close above 6710 will confirm that a bottom has been made and may turn the smallcaps bullish in the medium term. 200 SMA level is at 6707 as of now. Resistances are currently at 6545/6570/6710. Support is in the zone of 5680-5660.

IamAStudentOfTheMarket

Bharat Petroleum Corporation Ltd (CMP 367.35) is showing negative divergence along with a double top pattern on daily chart. Downside targets can be 355/340/335/320 on positional basis. Stop loss can be kept at 380 on closing basis or at 385 on intraday basis. BPCL may turn very weak below 350. Risk is all yours.

IamAStudentOfTheMarket

Negative divergence seen in Bank Nifty Chart - 15 Min and Hourly. If Bank Nifty sustains below 27650, we may see 27560. View negated if RSI breaks the trendline.

IamAStudentOfTheMarket

Negative Divergence seen in Nifty hourly chart. Possibly heading towards 10985 zone, where a gap fill is pending and is also a good support zone.

IamAStudentOfTheMarket

Positive RSI Divergence on SmallCap 100 Index. Some bounce expected. Resistance is at 6555 and 6950. Note that 6555 is also the 200 MA on weekly. Slightly Risky buy on a closing above 6555. Possibly safe to buy on a closing above 6950. Downside can possibly accelerate towards 5400 if 5650 is broken. Huge downside possible below 5400.

IamAStudentOfTheMarket

Nifty is trading below 200 SMA and 200 EMA comfortably. Near-Term Supports are at 10530 and 10330 . Resistance is currently at 10730 (200 EMA) followed by 10985 . Bullish scenario - only on a close above the 200 SMA which is currently at 10840.

IamAStudentOfTheMarket

Wipro - Possibly A Multi Year Breakout