Larsen: Huge Accumulation in progressLarsen price havent moved significantly in past few weeks.
Any slight upmove followed by retest levels where it retrace near Fibonacci levels. ( Approx 38.2% in most occurrences)
Any significant volume upsurge is invisible and evenly distributed across weeks.
Heavy resistance near 1000-1020 levels.
If price crosses these levels with good volume, the result will be a breakout & rally till 1100 levels.
Accumulation
LONG if breakoutSeries of higher lows.
Accumulated & breakout previous resistance.
Seems to be accumulating again!! If breaks, might give a move!!
Nifty is in consolidation: 11600 or 11000 is on cardPosition's are getting created here (Consolidation)
The people who have good knowledge of
derivative can say whether it is accumulation or distribution.
If accumulation it will go up
if distribution it will go down
I do not have good knowledge of derivatives
so I will wait for breakout.
BREAKOUT TRADEAfter nifty being weak, pharma sector is back in momentum again. With this momentum stock has given a breakout with good volumes and RSI in bullish momentum. Stock is trading at all time highs and the momentum seems to continue for few more sessions ahead.
NOTE: Key level for stock is 2540. It should sustain above this level.
SIMILAR BREAKOUT: DR. REDDY'S LAB
Disclaimer: Take this views for educational purpose. Trade on your own risk.
Happy trading. Happy Investing!
Long Term Bullish Call on Whirlpool IndiaWhirlpool has remained in an accumulation rectangle zone for almost a year preceeded by over 2 years of bull run. The scrip has seen some supply that was absorbed and has been followed by a relatively higher volume breakout on the weekly charts. There appears to be strength in the uptrend.
Longs may be initiated on dips (closer to EMA 9 on the weekly charts).
Stop Loss should be maintained at 1655.