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Swing Call Analysis for 8th March 2021

Nifty Analysis

 

Comments:

  1. The Nifty50 fell below psychological 15,000 level on 5th March,2021. The index opened gap down 14,977.95 and closed at 14,862.10, down 142.7 points or 0.95%.
  2. Nifty50 formed small bearish candle on Daily charts and a shooting star pattern on the Weekly charts (but this will require confirmation with other indicators).
  3. Market will remain range bound bullish if market touch Upper 15,700 and bearish only if market falls below 14,600. Majority times market will be range bound between these two ranges.
  4. News of the week: RBI to conduct simultaneous sale-purchase of Govt securities in coming week (tentatively 10th March,2021)

1.

swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

Comments:

  1. RSI: RSI is at 67.55 levels. It is about to enter the overbought zone and still looks bullish.
  2. Volume: Volume is consistent and above average.
  3. Bollinger Bands : Stock is trading between upper bollinger band and 20-SMA band. This indicates bullish trend.
swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

 

2.

swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

Comments:

  1. RSI: RSI is at 61 levels. It is about to enter the overbought zone and still looks bullish.
  2. Volume: Volume is consistent and above average.
  3. Bollinger Bands : Stock is trading between upper bollinger band and 20-SMA band. This indicates bullish trend.
  4. Moving Average: 5-SMA line has crossover 20-SMA line in weekly charts
swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

 

3.

swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

Comments:

  1. RSI: RSI is at 69 levels. It is about to enter the overbought zone and still looks bullish.
  2. Volume: Volume is consistent and above average.
  3. Bollinger Bands : Stock is trading between upper bollinger band and 20-SMA band. This indicates bullish trend.
swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

 

4.

swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

Comments:

  1. RSI: RSI is at 67 levels. It is about to enter the overbought zone and still looks bullish.
  2. Volume: Volume is consistent and above average.
  3. Bollinger Bands : Stock is trading between upper bollinger band and 20-SMA band and is likely to ride the upper bollinger band. This indicates bullish trend.

 

 

swing-call-analysis-for-8th-march-2021
Swing Call Analysis for 8th March 2021

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