panama petrochemicals -long price broke out of a triple bottom and now the price is retesting the 200EMA
sharp reversal from 200 day EMA
can accumulate stocks for decent gains .
Candlestick Analysis
SFL - Weekly AnalysisIn the Weekly Chart of SFL ,
we can see that, it has created a Halt candle at very bottom.
we have a opportunity to buy at bottom with RSI less than 30.
Enter on breaking its High with Low as SL.
BATAINDIA - Weekly AnalysisIn the Weekly Chart of BATAINDIA ,
we can see that, after the breakdown of Trendline, much of selling has not happened.
We might a bull momentum from here.
Expected momentum is shown in chart.
CROMPTON - Weekly AnalysisIn the Weekly Chart of CROMPTON,
we can see that, it can turn Bullish from here.
Enter at 273 with SL as 263.
Expected momentum is shown in chart.
AUBANK - Weekly AnalysisIn the Weekly Chart of AUBANK ,
we can see that, it has created a Halt Candle on support.
Enter on Halt Candle's high with Low as SL.
NYKAA - Weekly AnalysisIn the Weekly Chart of NYKAA ,
we can see that, after W breakout, it has taken a halt and now it is ready for up move.
Enter on Halt Candle's high with Low as SL.
Bajaj Twins looks good bet for FY 2024-25.Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months.
Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs.
Bajaj Finance
A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over 10% this month.
Price action traders can seen the bullishness in the stock and it is trading in a consolidation zone creating a bullish break out pattern.
There are chances of it consolidating around 7600-7800 levels and break out the higher 8200 levels creating a new ATH.
Volume profile ,since April '24, is also showing much of the activity happening around the trading price which signifies less selling volume on the higher levels on monthly charts.
Investment and positional stock holding in these stocks seems good for this FY.
Target price as per Fib Ext. are 8700-9250.
Bajaj Finserv
Its ATH high is 1932.50 and the stock is trading around 1644 levels.
Multi-month consolidation break out can be seen in the stock. If the stock starts to sustain above 1850-60, there are high chance of it giving 30-40% returns in coming FY.
The major resistance around 1860 is there and a break out is there just below the levels around 1700.
A position on the triangle break can be initiated with 25% of the investment capital and add on to the position on the horizontal zone break out.
Volume profile of Bajaj Twins are matching and are at the trading price. More bullish confluences help in carrying the trade and it is doing it.
The target price of 2100-2250 can be predicted as per the Fibonacci extention tool.
Entry should be made only after watching a price action or a break out with good volumes while closing over the levels on weekly or monthly charts.
Chart patterns and trading them are different thing. Price will be traded and chart pattern will help built the confidence.
BAJAJ FINSERV - Bullish Swing Reversal with VolumesNSE: BAJAJFINSV is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 11% to 16% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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METROPOLIS - Bullish Swing Reversal with VolumesNSE: METROPOLIS is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 10% to 15% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Banknifty intraday levels for monthly expiry 27/03/24.For last few trading sessions, market is volatile and is taking the stop losses.
Today also the market remained in a range and closed below the daily 20 ema. There is a rejection from the levels and an inverted hammer is formed on the daily charts.
If there is a gap up to flat opening and market starts trading below today's low, it can test the lower support levels.
Fibonacci levels are also retested on the bearish front. Now market has to decide which trend to follow as it has been creating confusion.
Major support levels :- 46400, 46150
Resistance levels :- 46750, 46940
Tomorrow is the montly expiry for banknifty. It has been consolidating in a range for last 3 trading session and there is a possibility of it showing some trending move.
Wait for the pirce action near the levels before entering the market.
RADICO - Bullish Momentum with VolumesNSE: RADICO is closing with a bullish momentum candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving with bullish momentum for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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New rally incoming if sustained above our given level!As we can see BANKNIFTY after taking support recovered almost 1000 points, now it can be seen trading in a crucial zone as this zone has been acting as a strong inflexion zone ever since. Hence if BANKNIFTY opens strong then we might see another strong rally above but will remain sideways to negative in this zone so plan your trades accordingly.
IOC taking support at previous resistance levelApart from BPCL, IOC is also given a multiyear breakout and has taken support at the same level and formed a kind of hammer candlestick pattern in the weekly timeframe.
Angel one taking support at crucial Fib level in weekly timeframAngel One had given a good rally after its IPO and after reaching a certain level, profit booking can be seen in it but if you look at it in a weekly timeframe and draw Fibonacci then you can see that it is taking support at 0.61 and also form a hammer candlestick pattern.
METROPOLIS - Weekly AnalysisIn the Weekly Chart of METROPOLIS ,
we can see that, after 4 weeks of slow selling, it has created a Decision making OR Halt candle.
Enter on breaking its High with low as SL.
BALAMINES - Weekly AnalysisIn the Weekly Chart of BALAMINES ,
we can see that; it has created a Decision making OR Halt candle.
Enter on breaking of high with Low as SL.
GMMPFAUDLR - Weekly AnalysisIn the Weekly Chart of GMMPFAUDLR ,
we can see that, after strong selling, it has created a Pinbar.
Enter on breaking of Pinbar high with Low as SL.
GNFC - Weekly AnalysisIn the Weekly Chart of GNFC ,
we can see that, it has created 2 pinbars in same range.
Enter on breaking of inside Pinbar high with Low as SL.
If it shows a Up move, it might form Right shoulder in coming time.
BATAINDIA - Weekly AnalysisIn the Weekly Chart of BATAINDIA ,
we can see that, it is at decision making point.
Also, Pinbar is created.
Enter on breaking of Pinbar high with Low as SL.
DEEPAKFERT - Weekly AnalysisIn the Weekly Chart of DEEPAKFERT,
we can see that, it is holding itself near Strong of 500.
Also selling has stopped.
Enter on breaking the candle's High at 496 with SL as 748 and Go long for 2 years.
ASIANPAINT - Weekly AnalysisIn the Weekly Chart of ASIANPAINT ,
we can see that, it in in same range since 3 weeks.
Enter on breaking of Pinbar high with Low as SL.
Possible Momentums are shown in chart.
SHANTIGEAR - Bullish Swing Reversal with VolumesNSE: SHANTIGEAR is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 11% to 17% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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