Chart of the Day: Can Auto Index rise from the Ashes?
Nifty Auto Index is underperforming against Nifty for last couple of months and barring few stocks, most of the stocks fail to participate in this market rally.
Technically, Nifty Auto Index is breaking out of falling channel formation indicating the bulls might be in action for next leg of rally.
Also it took support at the 200DEMA (Daily Exponential Moving Average) which is placed at 9,792.
The histogram on MACD are above 3months high and positive crossover of an average signals bullish scenario.
At 10,200, the technical structure indicates Auto Index can rise from the ashes but the efforts will go in vain if its breaks 9,700 level.
#KeepItSimple
Nifty Auto Index is underperforming against Nifty for last couple of months and barring few stocks, most of the stocks fail to participate in this market rally.
Technically, Nifty Auto Index is breaking out of falling channel formation indicating the bulls might be in action for next leg of rally.
Also it took support at the 200DEMA (Daily Exponential Moving Average) which is placed at 9,792.
The histogram on MACD are above 3months high and positive crossover of an average signals bullish scenario.
At 10,200, the technical structure indicates Auto Index can rise from the ashes but the efforts will go in vain if its breaks 9,700 level.
#KeepItSimple
Its Unbelievable!
Yes, its unbelievable as the journey from 16,000 to new all-time high of 17,429 for Nifty was in just 23 trading days.
Energy index chart we highlight on 2th August 2021 and follow-up chart on 30th August 2021, index is up by 6+%. Reliance Industries fueled the 100+ points in Nifty rally. Watch chart here https://t.me/FastProfitsReport/181
Bank Nifty underperformance over Nifty prolongs, key level to watch for traders will be 37,069 for bullish momentum.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Yes, its unbelievable as the journey from 16,000 to new all-time high of 17,429 for Nifty was in just 23 trading days.
Energy index chart we highlight on 2th August 2021 and follow-up chart on 30th August 2021, index is up by 6+%. Reliance Industries fueled the 100+ points in Nifty rally. Watch chart here https://t.me/FastProfitsReport/181
Bank Nifty underperformance over Nifty prolongs, key level to watch for traders will be 37,069 for bullish momentum.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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These stocks move up by 2X% or more…
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Bank Nifty hold back the Nifty rally; FMCG and Financial Service take Nifty to hit new-all time high of 17,436.
The hurdle of 17,500 can be crucial for bulls in the truncated week.
RSI trending above 80 is cautious sign for bulls; reversal will confirm only below 17,179.
Brijesh Bhatia
Research Analyst, Fast Profit Report
The hurdle of 17,500 can be crucial for bulls in the truncated week.
RSI trending above 80 is cautious sign for bulls; reversal will confirm only below 17,179.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Chart of the Day: Bank Nifty at conflux of Technical support
Can an underperformance of Bank Nifty over Nifty end today?
Bank Nifty has been laggard in the recent rally since the start of August 2021. In August, Bank Nifty gained 5.32% while Nifty gained 8.69%.
The short-term chart of Bank Nifty is at the confluence of technical support, AN OPPORTUNITY FOR BULLS to capitalize the setup.
1. Breakout of horizontal trendline, retest and resumption in upward momentum. (blue)
2. Gann Fan 2/1 line (green)
3. Fibonacci retracement at 38.20% of 34,817 to 37,140
The technical structure looks promising for bulls and they should parade the Bank Nifty to new all-time.
The structure fails if the key support level of 36,000 is negated.
#KeepItSimple
Can an underperformance of Bank Nifty over Nifty end today?
Bank Nifty has been laggard in the recent rally since the start of August 2021. In August, Bank Nifty gained 5.32% while Nifty gained 8.69%.
The short-term chart of Bank Nifty is at the confluence of technical support, AN OPPORTUNITY FOR BULLS to capitalize the setup.
1. Breakout of horizontal trendline, retest and resumption in upward momentum. (blue)
2. Gann Fan 2/1 line (green)
3. Fibonacci retracement at 38.20% of 34,817 to 37,140
The technical structure looks promising for bulls and they should parade the Bank Nifty to new all-time.
The structure fails if the key support level of 36,000 is negated.
#KeepItSimple
An unusual scenario on D-street as Bank Nifty outperform against Nifty after long time; Bank Nifty gains 0.82% while Nifty ends on flat note losing 0.05% at 17,353.
Bank Nifty had reversed from the confluence of technical support and likely to head towards the all-time high of 37,708. Watch chart here https://t.me/FastProfitsReport/186
The positive divergence is visible on ratio chart of Bank Nifty by Nifty indicating Bank Nifty is likely to outperform against Nifty in September.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Bank Nifty had reversed from the confluence of technical support and likely to head towards the all-time high of 37,708. Watch chart here https://t.me/FastProfitsReport/186
The positive divergence is visible on ratio chart of Bank Nifty by Nifty indicating Bank Nifty is likely to outperform against Nifty in September.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Chart of the Day: Equal Weighted Cement Index After metals, it is Cement which is resuming its bullish journey. We created an Equal Weighted Cement Index (EWCI) from the stocks with market cap of minimum Rs.20,000cr. Index broke it previous high in December…
Chart of the Week: Equal Weighted Cement Index
Did you know - Cement index rallied by 81% between September 2020 to April 2021.
After rallying for nearly 7 months, Cement index went in to consolidation for ~5months now.
Last week, it broke out of the rectangle consolidation at 47,600 and hit the new all-time high of 49,217.
Technically, cement sector looks very bullish and it should be on traders watchlist for next 3-5 weeks.
#KeepItSimple
Did you know - Cement index rallied by 81% between September 2020 to April 2021.
After rallying for nearly 7 months, Cement index went in to consolidation for ~5months now.
Last week, it broke out of the rectangle consolidation at 47,600 and hit the new all-time high of 49,217.
Technically, cement sector looks very bullish and it should be on traders watchlist for next 3-5 weeks.
#KeepItSimple
Largecap indices take a pause, Midcap and Smallcap indices hits new all-time high of 29,473 and 10,754 respectively.
Nifty took support at the lower band of descending triangle at 17,255. The breakout above 17,400 will confirm the resumption in bullish momentum.
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Research Analyst, Fast Profit Report
Nifty took support at the lower band of descending triangle at 17,255. The breakout above 17,400 will confirm the resumption in bullish momentum.
Are you going to join me tomorrow at the special event, Alpha Wave Profits? See you tomorrow at 5pm. Register for event here. https://t.me/FastProfitsReport/191
Brijesh Bhatia
Research Analyst, Fast Profit Report
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The bulls are back on D-street as Nifty hits new all-time high of 17,438; Midcap and Smallcap too shine at all-time high.
Nifty breaks out of descending triangle formation at 17,370. The retest at 17,350-17,370 will be an opportunity for bulls tomorrow.
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Research Analyst, Fast Profit Report
Nifty breaks out of descending triangle formation at 17,370. The retest at 17,350-17,370 will be an opportunity for bulls tomorrow.
Midcaps and Smallcap can be the flavor for the rest of the September 2021.
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Brijesh Bhatia
Research Analyst, Fast Profit Report
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Chart of the Day: Can Auto Index rise from the Ashes? Nifty Auto Index is underperforming against Nifty for last couple of months and barring few stocks, most of the stocks fail to participate in this market rally. Technically, Nifty Auto Index is breaking…
Nifty Auto Index - The second gear
Nifty Auto Index after taking support at 200DEMA and breaking out of multiple channel, the bulls are accelerating the speed and heading northwards.
#KeepItSimple
Nifty Auto Index after taking support at 200DEMA and breaking out of multiple channel, the bulls are accelerating the speed and heading northwards.
#KeepItSimple
The broad based buying on D-street hits new all-time high for Nifty, Midcaps and Smallcaps.
Post triangle breakout on Nifty, the bulls aggressive buying takes index above 17,500 levels. Are we heading for 18,000?
As per derivative structure, an unwinding in 17500CE (30th Sept 2021 contract) may trigger momentum to 18,000 levels.
Bank Nifty is struggling to outperform against Nifty; probably the short covering rally can be expected sooner or later.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Post triangle breakout on Nifty, the bulls aggressive buying takes index above 17,500 levels. Are we heading for 18,000?
As per derivative structure, an unwinding in 17500CE (30th Sept 2021 contract) may trigger momentum to 18,000 levels.
Bank Nifty is struggling to outperform against Nifty; probably the short covering rally can be expected sooner or later.
Brijesh Bhatia
Research Analyst, Fast Profit Report
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Fast Profits Daily - PSU Banks Are Set for a Rally Here's why I think PSU banking stocks are your best trading bet right now. http://www.eqtm.in/Bq95A
Nifty PSU Index - Don't Miss this Trading Opportunity
PSU Bank index has reversed from 50% Fibonacci retracement and 200DMA (red average line) indicating the bulls manage to hold crucial support zone.
Index is trading above the 50DMA (blue average line) signaling the strength of bullish trend.
Traders shouldn't miss this opportunity of going long.
Considering the volatility in PSU index, setups negated below the recent low of 2,200.
We highlighted this opportunity couple of weeks back when index was trading around ~2,300 (CMP-2,450).
#KeepItSimple
PSU Bank index has reversed from 50% Fibonacci retracement and 200DMA (red average line) indicating the bulls manage to hold crucial support zone.
Index is trading above the 50DMA (blue average line) signaling the strength of bullish trend.
Traders shouldn't miss this opportunity of going long.
Considering the volatility in PSU index, setups negated below the recent low of 2,200.
We highlighted this opportunity couple of weeks back when index was trading around ~2,300 (CMP-2,450).
#KeepItSimple