NIFTY and Bank Nifty Options, TATAMOTORS and ADANIENT (June 18) Post No: 2 ( Written on June 17)
NIFTY Candlestick Analysis:
The last traded Candle is likely an Inverted Hammer which signifies a change in Momentum. Whereas the Price Action is found to be increases its momentum downwards.
Technical Analysis:
ADX is found to be dropped from a Height of 23 and now touches the 20 level. The Health of Trend is Poor. DI+ and DI- indicate a New Trend, where the DI- crossed slightly above DI+, could be a start of New BearTrend.
Fundamental Analysis:
Falling Stocks and Rising Inflation are the two most worrying news for NIFTY health. Poor Performance of Top Stocks is the important reason why NIFTY fell down. ADANI Shares, TATA Shares are at extreme pressure to respond back.
To know the Accurate Strike Price Levels check my blog: cre8tivemarkets.blogspot.com
Bank Nifty Candlestick Analysis:
Bank Nifty has ended up with Doji today there is not enough Liquidity today and Volume is keep on Increasing after 12:00 PM today. Overall Candlestick tells us today the market is indecisive.
Technical Analysis:
ADX ratings are Extremely Poor which is not usable but DI+ and DI- made a Crossover each other which signify a Start of confirmed Bear Trend.
To know the Accurate Strike Price Levels check my blog: cre8tivemarkets.blogspot.com
Adani Enterprises and Tata Motors: Candlestick Analysis:
ADANI ENT: On a Streak of Downtrend and Red candles. TATAMOTORS: Potential Downtrend with Bearish Gap Down candles.
Technical Analysis: ADANI ENT: ADX Ratings are great in a level of 40 and Directional Indexes Crossed Each Other and started to Diverge even more than expected. TATAMOTORS: ADX Ratings are 33 which is on a trending market, but Directional Index is on a Bull Run for over a long period of time but now it likely to converge.
Fundamental Analysis: ADANI shares are currently on tremendous pressure to respond back because the shares almost lost 25%. TATAMOTORS is on a Pressure to continue the Bear trend because of Rising Inflation.
To know the Accurate Strike Price Levels check my blog: cre8tivemarkets.blogspot.com
India Can Only Escape from Inflation by releasing the Lockdown 50% than before.