WILL BEARS TAKE CHARGE ON SUN PHARMA AGAIN?

After a decent downtrend from 720 level to almost 490 level, Sunpharma has took some breath but seems like that breath will not last long. There is a bear Flag Pattern made on Daily charts. If its breaks then next support levels are at 520-500. Below that it will start its prior trend and can … Continue reading “WILL BEARS TAKE CHARGE ON SUN PHARMA AGAIN?”

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Tech Mahindra Ready For “Take Off”

After a decent downtrend from 515 level to 380 level, Tech Mahindra has shown some strength. Price has made a double bottom at 380 level, following with a classical positive divergence seen on a line chart. Expecting a move towards upper trendline which will act as a resistance at 410 level. Learning here – Classic … Continue reading “Tech Mahindra Ready For “Take Off””

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ITC Looking for 300 Levels

Price action on Daily chart of ITC showing Bears taking charge for very short term correction. Price has started consolidating between a descending Triangle. So one should look to short for Target 300. Buy will only be above 317 levels as of now ๐Ÿ™‚ Will update for best Buy possibility ๐Ÿ™‚ Daily Chart of ITC … Continue reading “ITC Looking for 300 Levels”

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S&P 500 INDEX “AN OPPORTUNITY TO SHORT”

S&P 500 Index after making a new high has now started showing some weakness. RSI 14 Negative Diversion is clearly seen on Daily Charts. Price action at the top also suggesting that Bears are taking charge. For Short term, I’m expecting that Price should retest the support zone of 2400-2360 levels. One can go short … Continue reading “S&P 500 INDEX “AN OPPORTUNITY TO SHORT””

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BANK NIFTY – MAKE OR BREAK TIME

Bank Nifty has started showing weakness after made a all time high. On Daily Chart there is a Negative Diversion which played really well today. Bank Nifty spot closed atย  23542.75 -o.81%. Immediate support for bank nifty is at 23300 levels. On weekly charts there is a Grave Stone Doji candlestick pattern made at the … Continue reading “BANK NIFTY – MAKE OR BREAK TIME”

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