BraViSa TempleTree-India Market Calls
- Thread starter d_s_ramesh
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Thank you, Mahin, for the valuable trust you have on me by following this thread.
HINDPETRO had its entry filled yesterday. Today it moved up and is now resting below entry levels. Both weekly and daily charts are strong. We should see the target in the stock, yet holding to stop is prudent.
It was not a gap up sir, opening today was within yesterdays range. Daily chart had a range of 425-445 which had been broken today, while we cannot rule out a false break too.
As the risk reward is good in this trade, please hold on to stop if you have a position here.
HINDPETRO had its entry filled yesterday. Today it moved up and is now resting below entry levels. Both weekly and daily charts are strong. We should see the target in the stock, yet holding to stop is prudent.
It was not a gap up sir, opening today was within yesterdays range. Daily chart had a range of 425-445 which had been broken today, while we cannot rule out a false break too.
As the risk reward is good in this trade, please hold on to stop if you have a position here.
NIFTY has closed at the highest high for 2 years today, while the highest high for the past 2 years is at a close proximity to the days close. What does the charts look like now?
Daily chart clearly shows total dearth of any bull power in the market. Histogram is not able to move past zero, while there is clear strength below zero. Market is expected to turn bearish anytime now.
On the hourly, while histogram is retracing bearish divergence, MACD lines are showing bullish strength. this shows that there is a possibility of a new high. A sideways consolidation before a high is also possible, where the hourly would then go in tandem with the daily.
Both daily and hourly are trending bullish, a trending market on a reversal is bound to give good moves. Lets wait for clear signals to get generated. Our long trade on the hourly nifty has made 136 points gain on the closing values. Stop is at 5408.75, while there is a support at 5423.
In case there is a gap down, we need to reverse to short below 5423, else wait for a smooth transformation into the new bear trend.
On our stock calls.
TATASTEEL DAily was closed with 134.80 points gain exclusive of commissions. Short on the hourly is due for reversal above 544.50 as the stock is non-trending on the hourly, we reverse above resistance.
ICICIBANK: Weekly call had its 3rd fill and the stop has moved up to 807.75. 4th fill is due at 986. On the hourly our long trade at 918.50is doing great runs. Both are strong on the chart.
HINDPETRO: This stock made a snap back into its range after breaching resistance, it has gone non-trending in the daily. We are holding with the 425 stop.
IDEA made its 3rd fill today and showed renewed strength, this is again a weekly trade.
BHARTIARTL is holding to its 2nd fill.
Daily chart clearly shows total dearth of any bull power in the market. Histogram is not able to move past zero, while there is clear strength below zero. Market is expected to turn bearish anytime now.
On the hourly, while histogram is retracing bearish divergence, MACD lines are showing bullish strength. this shows that there is a possibility of a new high. A sideways consolidation before a high is also possible, where the hourly would then go in tandem with the daily.
Both daily and hourly are trending bullish, a trending market on a reversal is bound to give good moves. Lets wait for clear signals to get generated. Our long trade on the hourly nifty has made 136 points gain on the closing values. Stop is at 5408.75, while there is a support at 5423.
In case there is a gap down, we need to reverse to short below 5423, else wait for a smooth transformation into the new bear trend.
On our stock calls.
TATASTEEL DAily was closed with 134.80 points gain exclusive of commissions. Short on the hourly is due for reversal above 544.50 as the stock is non-trending on the hourly, we reverse above resistance.
ICICIBANK: Weekly call had its 3rd fill and the stop has moved up to 807.75. 4th fill is due at 986. On the hourly our long trade at 918.50is doing great runs. Both are strong on the chart.
HINDPETRO: This stock made a snap back into its range after breaching resistance, it has gone non-trending in the daily. We are holding with the 425 stop.
IDEA made its 3rd fill today and showed renewed strength, this is again a weekly trade.
BHARTIARTL is holding to its 2nd fill.
NIFTY gave a new high and has closed in the value zone. The only strength that NIFTY has at present is the MACD on the hourly. Ratings show total weakness and when the market is trending on both daily and hourly, it should be a smooth transition to a new trend.
US markets have closed flat, but their implications on our market is more or less subdued. It can just be considered on a broad view only.
Yet another move and getting weak from there is the right time to sell long positions on hourly nifty. There are possibilities of going flat, let's see what is in store.
Our HINDPETRO long position is holding on to its range, markets turns trend less. Hold to stops, there can be wild moves on either side. If stop gets triggered, we get a stronger reason to go long on an up tick. Most of the long term as well as short term trades on the long side are getting their exits, showing a broader shift in the market.
So far it has not been a straight line change from bullish to bearish. It is just a slow shift and for good, as weakness build up more and more on the benchmark, dips can be there till the next strong support levels. In such a scenario 5350 will hold very strong, a break on this will lead to further bearishness.
US markets have closed flat, but their implications on our market is more or less subdued. It can just be considered on a broad view only.
Yet another move and getting weak from there is the right time to sell long positions on hourly nifty. There are possibilities of going flat, let's see what is in store.
Our HINDPETRO long position is holding on to its range, markets turns trend less. Hold to stops, there can be wild moves on either side. If stop gets triggered, we get a stronger reason to go long on an up tick. Most of the long term as well as short term trades on the long side are getting their exits, showing a broader shift in the market.
So far it has not been a straight line change from bullish to bearish. It is just a slow shift and for good, as weakness build up more and more on the benchmark, dips can be there till the next strong support levels. In such a scenario 5350 will hold very strong, a break on this will lead to further bearishness.
Just as visualized, NIFTY had the highest closing on the hourly were it retraced bearish divergence on MACD. The final holding point of the Index and took a straight journey down. Now with Daily having very strong multiple bearish divergence on all indicators and the same being mirrored on the Hourly. We get our short trigger confirmed.
Short NIFTY below 5433 with a stop of 5464. As both daily and Intra day are trending, it will be a smooth sail into a good bear move. US closing almost flat with small weakness should be advantageous for us to have entries at right levels without any gaps.
Short NIFTY below 5433 with a stop of 5464. As both daily and Intra day are trending, it will be a smooth sail into a good bear move. US closing almost flat with small weakness should be advantageous for us to have entries at right levels without any gaps.
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