Srihari - Stock Analysis

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 Selling for the second consecutive day led the Indian equity markets lower on the last day of the July F&O series on July 30. The NSE Nifty 50 index ended 100.7 points or 0.9% lower at 11,102.  Markets traded volatile and settled with a cut of over half a percent on the F&O expiry day. Initially, the benchmark opened with an uptick, led by supportive global cues however the selling pressure in the latter half trimmed all the gains and pushed the index in the red. Let us see what's in store for July 31, 2020 and how the analysis for the last session ( July 30, 2020 ) played. NO commentary today as I was busy today on account of Varalakshmi Viratham and other household chores. Reliance Industries Spinning top on the daily - 2138 acted as a good resistance. Results declared and looks like the JIO only has boost...

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 Markets traded volatile and settled with a cut of nearly a percent. After the initial uptick, the benchmark inched gradually lower as participants preferred to book some profit ahead of monthly expiry. Besides, the existence of a critical hurdle around 11,350 zone in the Nifty added to the pressure and it closed just above 11200. The outcome of Fed's meeting will also influence tomorrow. Let us see what's in store for July 30, 2020 and how the analysis for the last session ( July 29, 2020 ) played. Reliance Industries It was a profit booking day before the result and monthly expiry day tomorrow. Reliance opened around 2182 and it was a SELL from the get go. It made a low at 2071 and closed the day at 2090 levels. Per the XABCD pattern shown, the downside is open till 2000 levels. We will wait for the result anno...

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 Indian market touched a near five-month high on July 28, tracking strong trends in other Asian markets that were trading higher on hopes of a further US stimulus that could cushion the economic impact of the coronavirus outbreak. Markets in Europe and Asia booked gains as investors wagered the US Federal Reserve would reaffirm its dovish stance this week and a tolerance for higher inflation, a Reuters report said. US Senate Republicans also proposed a $1-trillion coronavirus aid package as the virus pandemic has killed nearly 150,000 people in the country, the report added. Tracking the momentum, the Nifty50 reclaimed 11,300 levels, ending the day 168 points higher. Let us see what's in store for July 29, 2020 and how the analysis for the last session ( July 28, 2020 ) played. Reliance Industries Reliance regained t...

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 Benchmark indices broke their winning streak to end lower on July 27 due to selling seen in the banking and financial names. At close, Nifty was down 62.40 points, or 0.56%, at 11,131.80. Let us see what's in store for July 28, 2020 and how the analysis for the last session ( July 27, 2020 ) played. Reliance Industries Another day - another all time high - almost reached the target of 2200 (high was 2198.4). It was pretty volatile with movement on both sides and finally a RED candle in the last 7 days. Reliance made a low at 2120 levels after making the new high but gradually regained 2190 levels but closed the day at 2156. Is this the start of the profit booking or the much sought after correction ? Will it form a RED candle to completed the 'Evening Star Pattern' tomorrow ?  Intraday levels: Buy above: 212...

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 Indian equity benchmarks logged gains for the sixth consecutive week the Nifty50 rising 2.6 percent for the week that ended on July 24. Better-than-expected corporate earnings, reports of potential vaccine developments and massive stimulus package announcement by the EU underpinned market sentiment. However, rising tensions between the US and China and surging COVID-19 cases in India and the US remain points of worries for the market. On July 24,   Nifty closed 21 points, or 0.19 percent, down at 11,194.15. Let us see what's in store for July 27, 2020 and how the analysis for the last session ( July 24, 2020 ) played. Reliance Industries Reliance is making all-time-highs daily - there is no stopping of the positive news flow and the price keeps ticking UP daily. Reliance crossed the 2100 marks on July 24, 2020 and m...

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 Nifty resumed its upward march on July 23, supported by gains in select heavyweights, including Reliance Industries, ICICI Bank, Kotak Mahindra Bank, ITC and State Bank of India (SBI). Nifty closed 83 points, or 0.74 percent, up at 11,215.45. Let us see what's in store for July 24, 2020 and how the analysis for the last session ( July 23, 2020 ) played. Reliance Industries There is no stopping - Reliance is on auto pilot mode now - it gained 70 points today to close around 2075. There is the news on Amazon buying a stake in the retails buisness (JioMart). So, there is going to be a gap up tomorrow - will we see 2100 on Friday ? Intraday levels: Buy above: 2040 - Target 2050 / 2060 2060 - Target 2080 / 2100 Sell below: 2100 - Target 2080/2060 2060 - Target 2050/2040 Bharti Airtel Nothing changed - Traded in the same ...

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 Nifty shed 18.60 points, or 0.17 percent, to close at 11,143.70 after a volatile session on July 22, 2020. Nifty opened right at the resistance zone of 11200 and fell from the get go and was seeing selling pressure everytime it tried to come to the 11170/80 levels. At the fag end, nifty managed a substantial gains from the day's low to close around 11140 levels. Let us see what's in store for July 23, 2020 and how the analysis for the last session ( July 22, 2020 ) played. Reliance Industries And there it is - 2000 !! ✌🎖🏅- Reliance played to perfection on the BUY levels given. It made a low of 1961 and then gradually scaled the peaks to hit 2000 and even better closed above it at 2005. Last 3-4 sessions it has been trading in a nice channel. Will the bullish momentum continue or will we see a profit booking ag...

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 Nifty rose for the fifth consecutive day on July 21 supported by positive global cues after European Union leaders reached an agreement on a massive stimulus plan to combat the coronavirus pandemic. Reports of successful progression of COVID-19 vaccine trials also boosted sentiment. Positive quarterly earnings provided additional support to the Indian market. The Nifty closed 140 points, or 1.27 percent, higher at 11,162.25. Let us see what's in store for July 22, 2020 and how the analysis for the last session ( July 21, 2020 ) played. Reliance Industries DoJI again - we have seen in the past analysis how DoJi plays an important role in bringing momentum. Reliance opened gap up at 1936 - and it was an one way gradual upmove to 1976 close to the all time highs. Will be hit 2000 this week ? It has been a positive week...

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 Extending gains into the fourth consecutive session, Nifty closed with healthy gains on July 20. The Nifty reclaimed the 11,000-mark as strong results by HDFC Bank, HCL Technologies and Britannia Industries boosted market sentiment. The Nifty Bank index ended 1.62 percent higher at 22,321.85 on July 20 Let us see what's in store for July 21, 2020 and how the analysis for the last session ( July 20, 2020 ) played. Reliance Industries Reliance was witnessing a mute first session and later it showed a nice upward momentum post 2pm and then turned choppy - it closed the day at 1919 levels forming a DoJi on the daily. On the weekly, it is trading on the positive side of the Weekly Doji (above 1910 levels). Tomorrow's trade setup can be taken as per the levels given below (based on the DoJi) Intraday levels: Buy above...