If banknifty closes below 39500 by next weekly closing this will be a trend reversal signal for short term and we may see levels till 38200-37700.

The trend will resume above 40600 on next weekly closing.

A consolidation in a 1000-1500 points is expected by next expiry, The breakout of the upcoming consolidation will decide the next move.

#banknifty

Morning downfall cost 3%.
Shifted #ironcondor to 39000pe and 40000ce shorts, net will be 4.5% by weekly expiry.
#banknifty

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#Thirumalai chemicals_(244-cmp) Investment update.

The stock currently at crucial support zone of 220-240.
If we see a good buying pressure from here the uptrend rally will resume,

✅View wait for the confirmation- a good bullish candle in weekly charts with volume will do.

♦️If any buying triggers are not seen in coming 2-3 weeks, then the stock might consolidate in a range of 200-280 till the next quarterly results.

Will remain bullish for Auto, Chemical speciality and NBFC sectors, the rally might continue for atleast a year more.

Weekly closing above 266-268, will confirm the resumption of the up trend. Keep a watch on it.

Excellent set of results of Q2 Fy21 from Garden Reach Shipbuilders (GRSE)

> FY21 EPS at Rs 21
> Revenue up YoY 45% Up
> PBT up QoQ 3X
> PAT reported 2.5x from last quarter

Garden Reach Shipbuilders (GRSE) available at such a cheap valuation (PE of 12) great addition to your Portfolio.

#GRSE

Team
Equistake

Good trading isn't about how much you make.

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Banknifty testing the 37800 support, if this levels break and closes below on daily levels, we can expect further selling till 37500-37200.

And that will be a good opportunity to add banking stocks in your investment portfolio as the reversals will be very near to your buying prices.

Expect a trend resumption above 38600 levels only, till then the consolidation might continue.

#banknifty

Banknifty closed with a positive intent today.

This might be the short term lows and we may see market moving higher subsequently.

Banknifty - Resistance 38300
Nifty - resistance 18050