One year of consolidation, a large candle (meaningful) breakout and now a Megaphone pattern in the making. Upside breakout may take the price towards 1380 -- the previous top where the resistance lies.
This is no trade recommendation.
Once a darling of the market bulls, TVSMotors has been correcting for about last 9 months. But now is the stock turning around?
If the trendline and 50DMA are anything to go by, the answer should be yes. One may like take a medium to long term view with an SL at 500. Holding onto this level price may move upto 800 again.
This Index gives clarity as regards how PSU Banks are going to fare. From lows, the Index has come up to 200 DMA. But there is lack of direction. It is learnt that RBI is working hard to settle the nagging issue of NPA. If the efforts of the RBI bear success this Index will settle above 200 DMA and scale up. Then we may invest in good PSU stocks such as SBI. At...
Weekly chart. Consolidating for last 9 months. May be pregnancy is maturing to bear since trend is upbeat. On daily chart 50DMA, 100 DMA and 200 DMA are crossing on the upside. Previous breakouts gave phenomenal returns.
Good brand. Strong market appearance of products. Gradual switching on to EVs. Keeping up with the demand of time.
Weekly chart. It is a breakout stock. Levels of breakouts are marked. Price is consolidating in a small range for last 10 months. This carries importance. Some more decline towards 8389 (previous low) is possible since price has moved below 200 DMA....
RIL contributed well in pushing Nifty today. RIL made a low close to 1200yesterday which has strong support of the bulls. Price moved above 5 DMA. This may resume momentum. 1300 is the tough resistance which has the highest Call OI.
Entered on 31 July 18 on 800.15 with a stop loss at 749.45
TSL 0.00% update on 1 Aug 18 from 749.45 to 770.85
TSL 0.00% update on 9 Aug 18 from 770.85 to 815.15
Current Trailing Stop loss = 815.15
In case of hitting stop loss there will be confirmed profit of 815.15 - 800.15 = 15 points
Entered on 31 July 18 on 800.15 with a stop loss at 750
TSL 0.00% 0.00% update on 6 Aug 18 from 750 to 771.10
TSL 0.00% 0.00% update on 16 Aug 18 from 771.10 to 820.90
Current Trailing Stop loss = 820.90
In case of hitting stop loss there will be confirmed profit of 820.90 - 800.15 = 20.75 points
