yash_utmani

yash_utmani

A double bottom is seen in Nifty Small Cap Index and the Index has decisively broke above the neckline. The target for Index is close to 19350 based on double bottom projection

yash_utmani

Nasdaq has broken out from the downward slopping trendline that defined it's recent correction. Recently the RSI indicator also broke above it's trendline It's highly likely that the worst is over for the index and we are headed back to new all time highs

yash_utmani

Nifty has formed a second head and shoulder pattern and closed below the neckline today The target for this pattern is 21500, assuming it doesn't recover to 24550

yash_utmani

AAVE token made two lows in April and July of this year On RSI this resulted in a divergence, as the prices made a new low but RSI failed to make a new low This was followed by a failed attempt to break the neckline to the upside. Finally in August we saw the token successfully break the neckline inspite of weakness across the crypto space This breakout has...

yash_utmani

The key to reversal of a trend is price structure and progressive confirmation Bitcoin created triple bottoms in november 2022 followed that up with an uptrend, then created another bottoming price action in march The trendline created using these bottoms got further confirmed in june as it broke above 31k after 1 year Along the way it managed to break...

yash_utmani

The stock seems to be flashing 3 sell signals: -> A topping pattern -> Break below 200 DMA -> Break of trendline from 2020 lows Typical target based on this pattern would be around 12350, which also seems to be very close to the important wave 4 price extreme around 12130

yash_utmani

Key levels for Initiating shorts: 11956 is the key level for Nifty. If broken can be used to initiate short with a stop above day high. Next key level is 11873. Break of this level should lead to a sharp fall below 11829. On the upside 12040 holds the key. Although longer term charts suggest Nifty may remain choppy with bullish bias above this level.

yash_utmani

Federal Bank has been a deep correction since Oct' 17. This correction may have ended as a double combination correction. The possibility that the double combination correction may evolve as a triple combination correction has been eliminated as the prices have crossed the crucial 105 level which was the high of the X-wave of the double combination correction. The...

yash_utmani Updated 

Sun Pharma may have completed what looks like wave C of an irregular flat correction on March 22nd. The high of 479.70 made on March 22nd is very close to the 1.272 extended level of 480.10 which is typical for an irregular flat correction. The wave c looks like a diagonal triangle. If so we should see swift selling in this counter that may reach the Jan lows of...

yash_utmani

Firstsource attempting reversal from key fibonacci cluster around 49.50. Buy around 51.50-51.75 for targets 55.35/56.90 /61.45 stop 49.0

yash_utmani Updated 

Sun Pharma in a downtrend. Looks good Sell for intraday. Sell Sun Pharma around 460.50 stop 464 Target Open.

yash_utmani Updated 

Sell YESBANK @ 266.25 Stop 269.80 Target Open

yash_utmani Updated 

Reliance seems to be bouncing off after unsuccessfully trying to go above the 13 period EWMA. The selling might continue for 1 or 2 sessions. Sell Reliance below 1327 stop 1338 target open

yash_utmani Updated 

Oil India failed to sustain after opening higher. Likely to be under pressure through the day. Sell Oil India @ 178.2. Target 174-174.50. Stop 180.30

yash_utmani Updated 

Sell DRREDDY @ 2748-2750 for intraday bounce off 13-period VWMA. Stop Loss 2765. Target Open.

yash_utmani Updated 

Sell BPCL @352-352.50 stop 355 target: hold till close of session today

yash_utmani Updated 

Sell ICICI Bank @ 390-390.50 stop 391.75 target: hold till close

yash_utmani

Edelweiss 2 counts presented (alternate count in black). This points to a move higher towards 220-225. Currently tracing a probable triangle. Stop Loss: 182.90. Disc: Invested.