Index consolidating within narrow range of 1650 -1750 since February 2023 - May 2023.
Index is building up steam since 3rd week of May to break above 1750.
Post break above this the index is expected to aim at 1850 and higher resistance levels of 1950 subsequently. If it faces stiff resistance then index is again expected to be range bound.
BEL stock is in uptrend from past few years and currently, it has given a breakout from a trendline resistance.
I personally don't prefer breakout trading but the setup is looking nice above 104 with a small SL below 101.5 DCB.
Kindly trade as per your own analysis and consider this idea for educational purpose only.
Persistent systems has been in strong bull run from 2020 to end of 2021.
Since 2021, the stock is consolidating and has formed a beautiful inverted head and shoulder consolidation as a flag of flag pole pattern
The stock might start a new uptrend above 5000. However, buying at top in such volatile market is risky.
Kindly trade as per your own analysis.
Rounding bottom + triangle consolidation .
After a huge RB breakout, Stock is in triangle consolidation.
For long, 360-375 looks like a strong demand zone. Can add long positions around these levels or average here.
Targets can be 448-491-547-605.
Always trail your profits in positional trades.
Breakdown of support may lead to test 340-317-280 levels also....
As explained, Glaxo is looking strong for a reversal near support trendline. Trendline breakout can be a beartrap.
RSI positive divergence in weekly TF is supporting the analysis. Best buy is near 1265 with SL below 1227 and target of 1345+.
However, this idea is shared just for educational purposes and not a recommendation.
Buy Engineers india ltd, EIL 98, for 125 and 200 in medium to long term. Highest weekly volumes in last 20years showing signs of big movement likely to happen. Invalid below 75 on weekly closing basis. All PSU stocks are getting re rated and now EIL getting ready for turnaround for bigger returns
BBTC (W), 1009 is looking good to breakout from weekly consolidation channel. BBTC just crossing 200 wema at 1025. Target 1250 to 1380 in medium term. Buy above 1030 is better. Invalid below 875 on weekly closing basis. Big weekly breakout with volumes happening.
Time frame - Daily
Study -
-- Good consolidation after ATH touch
-- Breaking out Fresh above 1482
-- SL -1400, TGT - 1600-1640 zone may be done
This chart is only for educational purpose, do your own study before taking any trades
Dabur is standing on a strong trendline support and is near its 200 week EMA which also is a strong demand zone.
If the stock gives a breakdown from this levels and subsequently forms a strong bullish candle, it will be an indication of bear trap and we might see a strong rally on the upside.
Currently, the candle formed is bearish and hence, it is wait and watch....
Nykaa share has been under constant beating from its listing.
Currently, the share is consolidating and it might form a double bottom pattern to bounce from 120-125 levels. RSI is already forming higher lows.
The major resistance is 145-150 levels above which the stock might show signs of reversal.
Idea shared is not a recommendation but just for educational purposes.
Alkylamines seems to have bottomed up after a significant correction in the stock from around 4800 levels to 2150 levels.
Currently, stock is on a very strong support from which the previous rally had started.
This high growth stock is a superb pick at this level for swing and positional trade.
However, there is a risk that it can be retracement of next correction...
Namaste!
You must have heard the words of great investor of all time.
Mr. Warren Buffett once said, “The first rule of an investment is don't lose . And the second rule of an investment is don't forget the first rule."
Losing money means, in simple terms means, selling at a loss . People get fearful and sell when the stock starts falling. There can be unlimited...
NSE:USHAMART
Currently breaking out from a consolidation within a bigger consolidation (See chart)
Goood volumes today and if a breakout is confirmed by EOD, I think it will go on to breakout from the larger consolidation as well.
Targets for the smaller consolidation amount to 35 points, whereas the targets for the bigger consolidation amount to 55 points,...
Key Points:
- Breakout from very Long period consolidation zone
- RSI > 70 and Crossed RSI MA
- All EMA crossed and good potential of up-move
- Resistance Level breakout
- Portfolio component
In Gujarati “ Bhav is Bhagwan ”
Disclaimer :
I am not a SEBI registered Analyst.
Please do your own Analysis before taking any trade/investment.
The above view is just...
UPL IS AN AGROCHEMICAL COMPANY
the stock is in consolidation on monthly charts
the two scenarios emerge from here on either side breakout, 240-250 moves can occur.
on higher side can cross 990
while on lower side can test near 540 levels
