BANK OF MAHARASHTRANicely setting up hopefully on the upside.
Heavy Consolidation around the resistance augers well for a big breakout.
Targets as plotted.
Enter on dips within the triangle
SL - 10.4
Consolidationzone
Infy - Correction phase?Infosys has seen a correction and a recovery. During the recovery phase, we also observe that the third Elliott impulse wave has been completed and the corrective waves have started. The last 2 weeks has seen a consolidation in the stock with a couple of attempts to both break above and below the consolidation. The counter is now seeing some exhaustion and any break below the consolidation rectangle can lead to a 40-50 point dip towards the 650 zone. There is bearish RSI divergence and MACD crossunder too. All indicators are bearish. Will need a good trigger to push the stock up. Else, will drift to lower levels.
DIVISLAB ConsolidationIt is consolidating in the range of 2240-2470 for the 2 months. breakout at either side of this range gives a very good momentum.
EICHERMOT is consolidating for a Month !This stock has been consolidating between 12600 and 15000. now it is approaching 12600 levels. if it revers from here it can give return upto 20%. otherwise it may create fresh lows.
Watch it for breakdown or Bullish reversal patterns !
Crucial resistance in HdfcIf resistance is not broken and then the stock can see some correction in few days.
VIP Industries | Trading between 400 & 485VIP Industries in recent weeks is in a sideways trend since February. Taking a broader look we could find the price action is forming lower highs and higher lows leading to a triangle pattern.
Currently, the stock looks to be in the middle of both the patterns and only a breakout could give us a clue on next big swing. It would be wise to get in if either 485 or 398 is breached.
Hindalco - Breaking Out from Long Consolidation It is been observed that the price action is breaking out from a long consolidation range, indicating a strong move to upside.
Target: 215
Stoploss: 200
VEDL IN CONSOLIDATION PERIOD Vedanta Limited is in CONSOLIDATION PERIOD. " Buy low - sell high " and vice versa.
Viceroy - Consolidation Phase It is been observed on the monthly chart that the price action is consolidation between 30-15 levels, and now the price action is trending up and reaching to previous resistance of the consolidation at around 30 levels. It shall further provide a big move once it breaks and close above 30 levels.
Target: 30
Stoploss: 23
