Voltas - Reversal Trade after Gap Filling Made a BaseNSE:VOLTAS today confirmed making a base and Sharp Reversal From it after Filling the gap formed on daily charts in April 2024, the MACD has Become Positive and is trending Upwards along with RSI Showing Strength after the CLSA Report on the Indian Summer Season.
It says India's warmest February in 124 years could spur a demand uptick in cooling product categories like air-conditioners, air-coolers, refrigerators and fans
The weather office has warned of further rise in temperature and heatwave days going ahead.
About:
NSE:VOLTAS is engaged in the business of air conditioning, refrigeration, and electro-mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipment and textile industry.
NSE:VOLTAS was created 6 decades ago when Tata Sons joined hands with a Swiss company Volkart Brothers. Voltas is also one of the most reputed engineering solution providers specializing in project management. The company has 5,000+ Customer sites actively managed across India.
F&O Activity:
Shorts in the System Getting Covered with 1400 & 1420 CE OI being Shed.
Trade Setup:
Looks like a good 1:1 Risk - Reward Trade, may find some Resistance Towards 200 DSMA so Swing till there can be played, if sustained and even go further.
Target(Take Profit):
Around 200 DSMA for Swing Trade and around 1700-1706 for Positional Trader.
Stop Loss:
Entry Candle Low for Swing Traders and Swing Low Levels Marked for Positional Traders.
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200dsma
CPCL Made RSI Bullish Divergence From a Key Level NSE:CHENNPETRO today made a good upmove with good volumes from previous key breakout levels in Sep 2023 with RSI Bullish Divergence on Daily Charts on Back of TVC:UKOIL going below 70 Dollars.
About:
NSE:CHENNPETRO is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives.
Trade Setup:
Could be a good 1:2.7 Risk Reward Trade Can give pullback up to 200 DSMA
Target(Take Profit):
Around 781 Levels or Falling 200 DSMA for Positional Trader.
Stop Loss:
Entry Candle Low for Swing Trader and Marked Levels for Positional Trader.
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Tata Steel - Swing TradeNSE:TATASTEEL today looked good technically on the back of China announcing that it would restructure its steel industry to cut its total output. The latest move by China is expected to reduce the dumping of cheap steel into the Indian market, which would act as a major positive for domestic steel companies.
About:
NSE:TATASTEEL is Asia's first integrated private steel company set up in 1907. The company has a presence across the entire value chain of steel manufacturing from mining and processing iron ore and coal to producing and distributing finished products. The company has a target to increase domestic steelmaking capacity to 30 MnTPA by 2025.
Trade Steup:
It Made Good Short Term Base on Daily Charts and Taking Support of 50 DSMA and MACD Trending Upwards Now Looking Good for a Swing Trade.
F&O Activity:
Long Buildup Seen in Futures With 140 PE Gaining Significant OI Addition.
Target (Take Profit):
Around 158 for Positional Trader and 200 DSMA for Swing Trader
Stop Loss:
Entry Candle Low for Swing Trader and 50 DSMA for Positional Trader.
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Signs of Trend Reversal in TanlaNSE:TANLA today showed signs of Early Trend Reversal with a Huge Volume Candle. If it Crosses R1 or 200 DSMA it Will Confirm it, Unless 10 DEMA and S1 are broken, the Target can be set near R2 Levels.
NSE:TANLA is a cloud communications provider enabling businesses to communicate with their customers and intended recipients. It is headquartered in Hyderabad, India. It is a global A2P(application to person) messaging platform provider.
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BSE Retesting BO Levels with King CandleNSE:BSE aggressive Short trade as it made a king candle and is close to the previous BO levels and closing below 20 DSMA today.
About:
NSE:BSE is an Indian Stock Exchange at Dalal Street in Mumbai. The Co. facilitates a market for trading in equity, currencies, debt instruments, derivatives, and mutual funds.
F&O Activity:
Short Buildup in Futures with 6000 CE Gaining Significant OI.
Trade Setup:
It looks like a good 1:2 trade setup, with the recent swing high as a strong resistance zone, the RSI is Trending Down and closed below 20 DSMA, If levels are broken Can test 200 DSMA.
Target(Take Profit):
Around 200 DSMA Levels for Swing & Positional Trader.
Stop Loss:
Entry Candle Low for Swing Trader and Recent Swing High or 20 DSMA for Positional Trader.
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Oil India Pullback Swing TradeNSE:OIL looking good for Pullback Swing Trade, giving pullback from election day lows and closing above 10 DSMA.
About:
NSE:OIL is engaged in the exploration, development, and production of crude oil and natural gas, as well as the transportation of crude oil and production of LPG. It also provides various E&P-related services for oil blocks.
F&O Activity:
Significant Long Buildup With 400 PE OI Addition Significantly.
Trade Setup:
Looks good for a 1:1.7 Risk-Reward Trade with 10 DSMA Trending Upward, Pullback up to 200 DSMA looks likely, and 10 DSMA and Recent Base are Important Levels.
Target(Take Profit):
Near 200 DSMA for Swing Trader
Stop Loss:
Recent Base or Trailing 10 DSMA on Closing Basis for Swing Trader.
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Rico Looking For Reversal After Making King CandleToday, NSE:RICOAUTO made a King Candle with High Volumes and came back to its Resistance Zone. If it can neget it A Swing can be seen.
200 DSMA Will be the Target and 10 DSMA as SL.
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IRB Double Bottom Swing NSE:IRB confirmed a Double Bottom today with RSI Showing Strength and Excellent Q3 FY 24-25 Resluts out today and now looks likely to give a good swing.
F&O Activity:
Significant Long Build-up with 55 PE showing a Significant Increase in OI.
Trade Setup:
Looks like a good double-bottom Formation can give a swing to the previous Double Top and if Crosses 200 DSMA Postionally will look very good
Target(Take Profit):
Upper Resistance Levels of Double Top for Swing Trader. Positional Trader Aim for 10-15% Upside from Entry.
Stop-Loss:
Entry Candle Low For Swing Trader and a Red Coloured Double Bottom Base for Positional Trader.
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BOI Showing Strength with Vol., Good Q3 and Below BV.NSE:BANKINDIA is showing strength with volumes getting picked since two days after good Q3 Numbers and RBI Liquidity Inject in the System. It is still trading below its book value of 155 Rs.
Bank of India posted a good set of numbers as fresh NPA accretion declined on a sequential basis. Margins were partly impacted due to lower margins on international book. Loan growth was healthy during the quarter. Lower credit costs and contained opex helped the bank post a good rise in net profit.
F&O Activity:
Significant Long Build-up with 105 PUT Showing Significant OI addition.
Trade Setup:
It can be a Good 1:2 RISK-REWARD Trade with the recent swing low being crucial. The stock closed above 20 DSMA.
Target(Take Profit):
115/116 Levels for Swing Trader and 155 for Positional Trader.
Stop-Loss:
99/100 For Swing Trader and Recent Base of 89-91 for Positional Trader.
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KIOCL Lokking Good For Reversal NSE:KIOCL today gave a big up move in the downtrend with Volumes.
Trade Setup: It's Looking to make a Golden Crossover in a Few Days with the kind of move shown today after a big downtrend and now reversal can be Activated if it Crosses Decisively above 200 DSMA and R1 until S1 and 50 DSMA is Respected it Looks good.
NSE:KIOCL is a flagship company under the Ministry of Steel, GOI, with Miniratna status. It is an export-oriented unit with expertise in iron ore mining, filtration technology, and the production of high-quality pellets.
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Greaves Cotton Trendline Breakout after Taking Support Earlier NSE:GREAVESCOT today broke the Rising Trendline taking support beautifully near the convergence of 200 DSMA and Demand Zone Few Days Ago. The MACD is Strongly Positive.
Today it Had a Huge Volume candle on the back of news of board approval of the subsidiary's IPO Greaves Electric Mobility (GEML). GEML's IPO will involve a fresh issue of equity shares and the sale of shares by some existing shareholders although IPO is subject to approval by GEML's shareholders.
NSE:GREAVESCOT is primarily engaged in the manufacturing of engines, engine applications and trading of power tillers, spares related to engines, electric vehicles and infrastructure equipment.
A Close above ATH will have a Fresh UPMOVE for a Swing Trade.
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