eastwind65

eastwind65

UNION BANK is making a Rounding Cup formation in the Weekly and Monthly charts with a high of 253. Its been moving in an ascending Parallel Channel from January 18. There is also a Horizontal Support zone between 137-140 and also the bottom trend line of the Channel is providing a support. I do expect a reversal from here. Added some quantity yesterday and will...

eastwind65

PNB after breaking out of a Monthly resistance Trendline has been moving in a Parallel Channel from 30 January 24. It gave a false breakout and reversed from there. The next support would be the monthly trend line or the Bottom Trendline. Iam already invested and would be adding some more quantity @ around 120-122.

eastwind65 Updated 

Indusind Bank has been moving in a rising parallel channel from 23 January 24. The difference between the lower trend line of the channel and the upper trend line of the channel is Rs 122 to Rs 130. On April 19 it bounced from the lower trend line. If you feel like taking a chance you can buy and look for an upside of Rs 90 atleast.

eastwind65

Infy has been bouncing off the Resistance turned Support zone between 1355-1370. The CMP is 1420. Just another 50-70 rs to reach the zone. Safe traders can wait for it to reach the zone and bounce with a Bullish candle. Keep on your watchlist.

eastwind65 Updated 

IRFC after having a stellar run from December 2023 made a high of 192.80 on 23 January and started falling from then on. It broke the triangle formation with less than average volume on 23rd April. The region between 148 and 152 which was the resistance zone was finally broken with good volumes on 26th April. Safe traders can wait for a pull back between 148 -152...

eastwind65

IOB Has broken out of a Triangle Pattern. Risky traders can go for buy on end of day closing basis, safe traders may wait for retest and then buy. Target is 81.80 SL 59. RR is 1:2.5. This is not a recommendation, only my view.

eastwind65

MMTC had given a breakout on monthly basis in January 2024 and now we are seeing the pull back and retest. Coming to a lower TF like daily or hourly we can see that it has been moving in a Parallel Channel from Aug 2023 consistantly making Higher Lows and Higher Highs. Taking 1 HR. Time frame we can see that it is making a Cup and Handle pattern. We have yo wait...

eastwind65

Granules made a high of 438 in December 2020 and from then on it was a continuous fall from that high. It was forming a Rounding Bottom and another similar formation was formed within this pattern. After making a High of 475 it has fallen and it is at a Horizontal support zone @ 399 -408 and a sloping trendline support. Ist Target is around 510 and a 2nd Long Term...

eastwind65

Laurus labs has been moving in a Parallel Channel from April 23. Having taken multiple supports on the Bottom Trend Line. It has also broken out of the Long Term Trendline on 3 April 24 and now it is making a retest of the trend line. Even though it has not touched the trendline on retest it has a support zone between 423 to 427. If that support holds we can see a...

eastwind65

IEX is forming a Rounding Bottom Formation. In the short term it is moving in a Rising Parallel channel. Long Term Target that can be expected is around 275 -300 in a years time provided there is no untoward news. Trade Active. Entered @ 141.35

eastwind65

Nifty has been on a falling channel right from 3rd February. Today it is moving in another rising channel. So for any up move it has to break out of the falling channel. Otherwise can go short on the break of the smaller rising channel. It is a wait and watch situation.

eastwind65 Updated 

SPENCERS has been moving in a Parallel Channel from April 2020. It has reached the Resistance Trend line. Keep on the look out for a Break and Retest of this level for a Target of 119.

eastwind65

Can enter longs only after breakout of the upper Trendline.

eastwind65

VEDL  had a successful breakout on 29.07.21 and would have given around Rs 60 profit. Since the stock is an uptrend would it be prudent to enter now. My thinking is since the stock has given a good profit in the push phase we should wait for a pull back to enter fresh longs. Also we have a negative divergence. So wait and watch before committing to fresh longs.

eastwind65 Updated 

GABRIEL INDIA has a resistance at 133.90. It has to break above this to go long for Target of 153.

eastwind65

Mothersonsumi has been on an ascending Parallel Channel from October 2020. After making a High of 272.85 on 2nd June it has been drifting lower to take support at the bottom Trendline with a Low of 220.65 today. We have to see if there is a reversal or if it breaks the lower trendline. If it breaks then the next support would be around 195-200. Wait and see the...

eastwind65

After making an ATH of 773 it started to form a Rounding Bottom and is nearing the same Resistance Zone around 766-774. Potential to retrace from here. It has to break this resistance to see further upside.

eastwind65

After making a recent High of 690 Glenmark has fallen steeply to the support zone at around 575-590 levels. There is a Trend line support at 581.80 and even today the trend line has provided support in making a Doji type candle signifying indecision by the traders. Now we need a strong Bullish followup candle to make up our mind.