It has been observed on the daily chart that the price action continuously dips down for last one week and now in last two trading session, we have noticed a turnaround in price action which is a signal of a bounce back or a detouring of price action as buyers take over the pilot cabin. Now, a positive movement can be seen to 1100 levels if the price action closes ...
In weekly, there has been a multi-year resistance breakout , then retesting of the breakout level.
in daily hidden bullish divergence is seen, https://in.tradingview.com/x/PGe77stm/
sl - 1005, tgt1 - 1166, tgt2 - 1267
In monthly,
It is at ascending channel support. So it is expected to reverse and go up towards the channel resistance.
sl - 850 tgt1 - 1250 tgt2 - 1340.
In weekly,
hammer formed at channel support it can easily bounce to touch the channel resistance @ 1010. https://in.tradingview.com/x/hv92ubHs/
There is a potential BULLISH FLAG setup on Unitech Ltd. The price is finding support at around Rs. 6.30. If the price breaks out of the consolidation, we could look to take our proft at around Rs. 11.00 which is the exact hight of the Flag's Pole!
Amara Raja Batteries
Last closing Price 690.55
Observations
- In downtrend since May 2017
- RSI in Oversold region
- Channel support around 674
- Inverted umbrella (also known as gravestone doji) observed in prevailing down trend with high volumes
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Risk to reward ratio looks good to go long with
Target around ...
In daily, we have horizontal resistance breakout with good volume,
sl - 143, 1st tgt - 195, 2nd tgt - 210.
also there is a probability for U pattern formation, https://in.tradingview.com/x/vG1idGH5/
Aban Offshore
Cmp 182.40
The stock is near support levels
178-185 range looks good to buy
Momentum might be seen on sustaining above 186.50
Target - 210 / 228 initially
Take care & safe trading....!!!
in daily, symmetric triangle formed and breakout happened with good volume,
also price closed above upper BB and BB is expanding, sign of bullishness. https://in.tradingview.com/x/ziZHWfE7/
sl - 610, tgt1 - 725, tgt2 - 758.
in daily, price bounced from ascending channel support after forming hammer. hidden bullish divergence seen here https://in.tradingview.com/x/aVN3rO4W/
sl - 579, tgt1 - 645, tgt2 - 680
In daily, price bounced from ascending channel support, with the formation of bullish piercing line.
Also hidden bullish divergence formed here. https://in.tradingview.com/x/tKqgxVOO/
NSE:FEDERALBNK federal bank has started moving back to its upper bound
The stock is also moving towards builing a bullish triangular pattern. Once the top (121.5) is broken stock will go for breakout
Buy Federal Bank above 114
Target 119 and above
SL 111.30
NSE:TATAPOWER has corrected nicely recently and presently at its support.
Stock has made a dogi at the bottom signaling its ready to change the trend and go bullish.
Buy TataPower above 78.65
Taget 80 / 81.5 / 85
Ashok Leyland
CMP 112.20
Levels are mentioned in the chart
In case it is not readable on chart....
108-113 - Accumulation zone
Target 128 /133 in 2-3 months
In the current set up, momentum might be seen on sustaining above 114.5
On the lower side the stock also has very strong support at 97 odd levels
Overall stock looks good on chart.
Take care & safe ...
