Mahindra And Mahindra:- Short-Term Stocks Recommendation.

Moneyites May 21, 2021 No Comments

M&M:– The shares of Mahindra and Mahindra rose 2.35% to close at 803.25 in the previous trading session. The stock price bucked the trend and closed near the day high on a positive note.

The price action violated the downward resistance line of the descending triangleformed on the daily scale. The price rose on the heavy volume and continue the bullish momentum thereafter. On an indicator front, RSI at a reading of 56 signals strong positive momentum to continue.

The stock price may head higher to the levels of 870-940 in the short run. While the level of 740 is critical to hold on a closing basis.

Stocks to buy today

Pre Market Update 21st Oct 2020

Moneyites October 21, 2020 No Comments

जानिए मार्केट का हाल,मार्केट के खुलने से 1 घंटे पहले

Bulls May Ride Nifty To 9500-9600 levels In Short-Term.

Moneyites May 27, 2020 No Comments


In a contrarian view on Nifty50, The benchmark index may trend higher to the levels of 9500-9600 levels or even 10000 if it manages to hold above the level of 8800 on a closing basis. The index has crucial resistance at 9270 levels and takes off this level in a convincing style may open for more upside in the coming time. The index found multiple support at the level of 8800 which act as a downside trigger in the coming time.

“Trading is more about managing and mitigating risk not just taking the risk”.

Some reasons to support the above statements are:-

1 The first reason for going to this trade is the favourable Risk to Reward ratio of 1:3 on minimum and 1:5 on the higher side.

2 The opening of the economy may have a positive optimism to support the price action to move head higher in the short run.

3 Even after the announcement of negative growth rate by RBI in a second emergency move, the price is still holding support at 8800.

4 The price violated the neckline of the Head and Shoulder pattern highlighted in green found support at the level of 8800.

5 The price formed a descending triangle, it is a bearish continuation pattern. It is highlighted from the blue dash line found support at the level of 8800.

Nifty 50

Bank Nifty:-

The Banking index who has relatively corrected more than the nifty index is trading with the weakness. In the previous trading session, the index opens gap positive and holds some gains to close in the green despite Nifty50 index close in the red with the nominal losses. Technically, the banking index seems to place bottom at the level of 17000 and may due for a bounce back.

The violation of the resistance line of a bullish wedge pattern may take bank nifty to the level of 18200-18600 in the nearest term.

Bank Nifty

Dow Jones Industrial Average:-

The Global Markets are showing positive optimism on the reopening of the economies. The Dow future opens on a strong positive note on Tuesday and in addition to this, It has a breakout from the inverted Head and Shoulder pattern. It is a bullish continuation pattern signals of continue uptrend and it may rally another 4-6% from the current levels.

Dow Jones Future

Markets:- How to Trade Nifty on Thursday?

Moneyites May 21, 2020 No Comments

Nifty Tips:- In the previous session, The NSE main index Nifty 50 extends gain by +187.45 points or +2.11% to close at 9066.55. The index opens gap positive and keeps holding the early gains in the first halves and later its breaches the trading range to extend rally further in the second halves. In today’s session too, the index broke out the level of 892o and hit both the target of 8975-9050 as mentioned in the report and closed above them with positive biases.

Day Trading:- The Nifty index form an aggressive bullish candle and closed near the day high with positive biases. The bulls are in command and if manage to hold above 8950 on a closing basis we can see a rally to continue in the short run. The intraday trading strategy is to buy on dips on Nifty future and a call option of 9200 strike price for next week can be initiated for the given below targets.

As our levels decode the daily market movements in simple support and resistance levels with high accuracy. So we recommend keeping the below levels at the back of your mind before going for the intraday trading.

Nifty Support and Resistance Level:- The index has immediate resistance at 9110 above this it may retest the level of 9170-9220 to the upside. Whereas below the level of 9030 it is looking weak and may retest the support level of 8950-8900 to the downside.

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Nifty Tips

Also Read:-Markets:- How to Trade Nifty on Wednesday?

Markets:- How to Trade Nifty on Monday?

Moneyites April 20, 2020 No Comments

Nifty Tips:- The NSE main index Nifty50 had shown a strong gap up opening of 330 points in the morning trade but soon corrects down on account of gap filling and marks the day low of 9091.35. The Nifty index then pulls back from the day low, as bulls took the charge and finally added 273.95 points to close at 9266 in red by the day end.

Volatility index– The VIX drops by -7.60% to close at 42.59 in intraday trade.

Coronavirus Update:- The number of novel coronavirus cases increased to 16,116 in India and the death toll reached to 529 by Sunday evening, Whereas over 2.38 Million people infected and 1,65,636 deaths reported worldwide from COVID-19

Technically, The Nifty index is heading higher and if manages to hold above the level of 9400, it may show more upside to the level of 9800-9900 in the coming time. The bulls are in charge as the index is already up around 23% from the low 7511 and if manages to hold above the support level of 8900-8500, the rally to continue.

Nifty Support and Resistance Level:- The index has immediate resistance at 9320 above this it may test the level of 9390-9450 to the upside. Whereas it has nearest support at 9220 below this it may drop to the level of 9115-9040 to the downside.

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Also Read:-Markets:- How to Trade Nifty on Friday?