Sky_Tracer

Sky_Tracer

NIFTY is showing positive intent in terms of a Mean Reversion. Notice the low of 11 March held. This signals Bulls in control. Long position can be built up for a Target to 22,900 level. SL - today's low.

Sky_Tracer

HDFC BANK is going to be the Large cap heavyweight saviour of the market in these turbulent times. The price is holding firm around the 1700 levels and is not showing any signs of crumbling. I anticipate the stock to rally towards 1780 price level within this March 2025 expiry. SL would be this week's low. Stay tuned!

Sky_Tracer

Nifty 50 and it's major indices are falling and the correction is expected to continue over the next few weeks. However, there is one sector which looks resilient and that is the Metal Space. While the sentiment may not be super Bullish, as per my analysis, we can expect this space to consolidate over the next couple of months and then give a Bullish move. As...

Sky_Tracer

Guys, do not short Nifty ! A clear base is forming on Nifty and there is a H&S pattern that is setting up on the 15 min chart. This means that there is an accumulation going on. We can anticipate a breakout from this accumulation to happen in the next week or so. P.S. This is not a recommendation. You are advised to do your due diligence and consult a Financial advisor.

Sky_Tracer

As explained in my earlier post, the weak reversal on DR REDDY has failed. The stock is now breaking down from the Weekly Pivot and is expected to test 1120 level within this week. March series could be considered for this.

Sky_Tracer

DR REDDY is showing signs of a weak Reversal. This is just profit booking in process of the short positions. The overall trend still remains Bearish. We can anticipate a price rally towards 1187 price level. However, the sell off is expected to continue in the coming weeks. I anticipate the stock to correct towards 1080 price level in the near short term.

Sky_Tracer

LT is showing signs of Reversal on the Hourly chart from the lows. While this is not a trend change, hence long position needs to be built up only on a short term basis. Target expected within a week or two - 3400. Overall long term trend still remains bearish with scope of further correction.

Sky_Tracer

FMCG sector is weak. In my earlier post I had mentioned that those who are invested in HINDUNILVR must exit all positions as the stock is going to see a major correction towards 1600 levels. BRITANNIA is also expected to correct towards 4500 price levels this year. Those seeking to trade options can enter into a short position for Target towards 4765 price levels.

Sky_Tracer

BANK NIFTY has been forming Higher Lows since Jan last week. Each time the price breaks down from the Weekly Support, there is instant buying. This is indicative of the fact that there are Buyers. A Long Swing position can be taken on Bank Nifty preferably for the March series considering the fact that there are only 5 trading sessions left until Feb series...

Sky_Tracer

RELIANCE is weak. Price rejection from the Weekly Pivot is evident through the Bearish Pin Bar close. Short position can be taken for a Target to 1184 price level.

Sky_Tracer

ASIAN PAINT tried to bottom out and the Buyers tried to take the price up above the Weekly Pivot. However, the sellers have hammered it again and now the stock looks set to test the 2183 price level. Short position can be built on an STBT basis.

Sky_Tracer

BANK NIFTY is showing further weakness and has rejected the Weekly Support-1 level. This means a further correction towards 48,188. However, I do feel that BN will take support around 48,188 levels and we might see a further upmove in the coming weeks.

Sky_Tracer

HINDUNILVR is showing a dangerous price action on the Weekly charts. If my analysis is right, then the Bears have totally taken over control and we can anticipate the stock to have a major correction this year. Those who are holding long positions on this stock for investment may relook into it. I foresee the correction to head towards 1650 price...

Sky_Tracer

INFOSYS and IT scrips are what is dragging Nifty down. A short trade is setting up on INFY. The Monthly Pivot and Weekly Pivot has been rejected and price is unable to sustain. I anticipate a correction towards the 200 DEMA. The Daily RSI is also weak which confirms the sentiment. Target - 1802 SL - 1890

Sky_Tracer

KOTAK BANK continues to look Bullish amidst the sell off in the broad markets. Stock continues to hold the major Pivots and now is en route to test the price levels of 1985. SL would be bearish candle close below 1904.

Sky_Tracer

COFORGE is breaking down from the Weekly Pivot and after a series of Lower Highs being formed since 5th Feb. Short position can be taken for a Target of 8021 price.

Sky_Tracer

INFY is now holding the Weekly Pivot and is showing sign of Bullishness. Notice the Higher Lows being formed. INFY along with RELIANCE will lead the reversal of Nifty to head long. My previous post on Nifty long still continues to hold. INFY Long Target - 1937

Sky_Tracer

BAJFINANCE is correcting from its Highs. Stock is continuously forming Lower Highs and has broken the Weekly Pivots. Short position can be taken for a Target to 8062 price level. Overall Trend still remains intact. This is a mean reversion set up.