Nifty has formed a bearish sort of a structure on the daily chart, making a low of 17613 on 29-10-21. Since then it has pulled back to the 20EMA and has formed a bearish continuation bar to the downside today. A short position could be considered keeping the following levels in mind:
SHORT BELOW: 17958
STOP LOSS: 18132
TARGET 1: 17784
TARGET 2: 17610
HDFC has made a successful breakout-retest-continuation pattern out of its consolidation zone on the daily time frame. The is heading toward the next resistance zone of 3140 which is a dual Fibonacci level.
It is the 1.618 Fibonacci level of the pre-Covid high-low on the 1D time frame. It is also the 4.236 Fibonacci level on the long-term Weekly chart. We are...
INDIGO broke out of its 1900 ATH zone last week. The price then pulled back to 1900 and has exhibited continuation pattern today. Fresh longs may be initiated for the continuation trade in the direction of the breakout.
TCS, the leader of the IT pack, is in a nice uptrend. If we see a continuation of the bar formed today, we should be approaching 4000 odd levels in no time. One could initiate a trade keeping the following levels in mind.
STOVEKRAFT has been in a nice uptrend and it had made a high of 1017 on 30.08.21. Since then it has pulled back to the 20 EMA and has formed a continuation bar today. It seems that it is poised to continue its upward trend and possibly make new highs. A long trade can be initiated keeping the following levels in mind. Only initiate the trade if price sustains...
After making a high of 3179 on 20.07.21, ASIANPAINT has been consolidating in a range. It recently seems to trying to push upwards towards the resistance and has formed a nice bar which indicates a possible coming breakout. A long can be initiated keeping in mind the following levels :
LONG ABOVE : 3115
STOP LOSS : 3048
TARGET 1 : 3182
TARGET 2 :...
Most cement sector stocks seem to be resuming their upward trend after the recent pullback. Amongst them, ACC looks nice to be traded for a swing trade. After running from the 5th July pivot low of 1975 to the swing high of 2454 on 04th August, it seems to have pulled back completing its 38% retracement at around 2275. It also has pulled back to the 20 EMA and has...
CIPLA had formed what seems like a head and shoulders pattern, from which it broke down from on 27-07-21. After breaking down from the pattern and range it fell from around 945 level to the 875 level. Since then it has pulled back quite neatly to the bottom of the range and has then created a huge continuation bar to the downside with above average bearish...
HAPPSTMNDS is steadily moving upward, continuously making higher lows. It seems to be resuming its upward trend after the current pullback and 38% retracement. A long trade can be initiated on the daily timeframe. Only initiate the trade if price stays above the "LONG ABOVE" level for at least 15 minutes.
LONG ABOVE: 1430
STOP LOSS: 1385
TARGET 1: 1475
After good rally upside nifty consolidated for two days now and making a pole and flag pattern which is same as of BANK NIFTY both were in a good move and the good rally continue after this structure is broken. Please comment down below what do you think about the next move of these index.
There are some observations that can be made on the chart of IBULHSGFIN. The stock had made a run from the low of 19.04.21 and made a peak of 313.70 on 16.06.21. Since then it has pulled back to the 20 EMA, consolidated and is trying to continue its upward move. Price is above both the major averages i.e. the 50 and the 200...
Please check my idea posted previously on 23-06-21. The trade has turned out beautifully and all targets have been reached and LT has closed at an all time high of 1618.
LT has been in a nice uptrend, continuously making higher highs and higher lows. After the recent pullback to the 20 EMA , a nice continuation candle has formed. A long can be initiated keeping...
BAJAJFINSV is steadily moving upward, continuously making higher lows. It seems to be resuming its upward trend after the current pullback.
A long trade can be initiated on the daily timeframe . Enter only when price sustains above the entry level for 15 minutes.
LONG ABOVE : 12200
SL : 11776
TGT 1 : 12624
TGT 2 : 13000
Another option could be to wait for a...
SAIL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its highs and possibly make new ones. It was unable to close above 128 for a number of sessions and has finally broken out past that level on a closing basis. Keep an eye out for levels of 150 and beyond.
TATA STEEL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its highs and possibly make new ones. It was unable to close above 1150 for a number of sessions and has finally broken out past that level on a closing basis. Keep an eye out for levels of 1245 and beyond.
CNXMETAL has been in an uptrend, continuously forming higher lows. After the recent complex pullback, it seems rested and ready to move forward and challenge its highs and possibly make new ones. Certain stocks in this sector can be traded for a short term trade and I will post my analysis of them shortly.
ESCORTS has seen multiple Support/Resistance cycles at 1180 zone where we saw this zone turning from support to resistance and to support once again. The stock broke out of this zone last week and has done a successful retest followed by a continuation of the price action. RSI is also in the bullish territory which is a good sign. We are bullish on the stock for...