Analysis - June 16, 2020

DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT TO PEOPLE FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE

It was a volatile day on June 15th 2020. In the first session the markets fell and recovered in the second session. As per the June 15th, let us see what happened

Reliance Industries

The much expected breakout and close above 1600 happened today !! ✌👏
The close was around 1610 and if the global cues are good, we can see 1700 soon.

Reliance gave trades on both sides today per the last analysis
Sell : from 1594 to 1565
Buy: from 1565 to 1626

Reliance is a buy on dips for now and if it closes above the 'B' point - the ABCD pattern will be activated.

Intraday Levels for 16 June, 2020

Buy Above:
1626 - Target 1633/1650
1611 - Target 1626
1592 - Target 1611

Sell Below:
1626 - Target 1611/1593
1593 - Target 1580/1561

Bharti Airtel

It was a bearish day for Bharti - Opened at 556, made a high of 562 and closed at 550. We got a SELL trade per the levels suggested in the last analysis

There is no material change in the charts; 558 is an important level in the upper side, 543 is a good support.

Because of the AGR case in SC, it is going to be a volatile week in Bharti

Intraday Levels:

Buy Above: 
550 - Target 558/562
562 - Target 572/576

Sell Below:
558 - Target 550
550 - Target 543/540

LIC Housing Finance

It was a bearish day for LIC as well. It opened at 274 and made a high of 282 and closed at 270
As per the levels given, we got a good SELL trade 

A close above 296, will activate the XABCD on the weekly chart.Until then 296 is the resistance on the higher side. Supports will come around 258/243 levels

Intraday Levels, if sustain 

Buy above :
272 - Target 280/288/296
258 - Target 268/272

Sell Below:
270 - Target 267/260
260 - Target 252/243