Reliance and Dollar

As discussed last week, index may take some breather after a big move. No big moves seen on index this week. Index view remain same. Lets check some stocks and Dollar chart today:


Reliance Industries:

  Reliance making second attempt to unshackle the chains. This time if breakout holds then good momentum can be seen. Reliance has made a higher bottom which is also positive.

Reliance Industrial infra:

  The charts look similar. Second Attempt again with higher bottom. Lets wait and watch.


USDINR:

    Dual Resistance acting strong. Dollar witnessed biggest weekly loss in last 2 years. This week candle was doji with negative biased. If fall continues then bottom of trend will be visited soon. Breaking 65.60-80 zone dollar will go on consolidation mode with negative biased which will be good for banking stocks.

NOTE: Above charts are shared for learning purpose only. These are not related to any BUY/SELL tip.

Nifty and Bank Nifty Updates

Market welcomed budget with a bang. Bank Nifty support range mentioned last week worked so far.
Lets see how the chart looks now:

Nifty:

We can so many resistances waiting for Nifty. First one was crossed with a gapup without any hurdle which shows this pull back has strength to test other resistance. Lets see how it goes :).

Bank Nifty:

    Similar to Nifty bank nifty is also moving towards resistance area. Need to see strength in this trend and watch price action in shaded area carefully.

 NOTE: Above charts are only shared for learning purpose and are not related to any BUY/SELL tip.