After the sharp down move early this year Axis Bank has been consolidating with an upward bias. One can observe the formation of a symmetric triangle in the daily and shorter time frame charts. The stock has been receiving support in the 413-428 range in the last couple of weeks. A break above the long entry price point mentioned in the chart can take the price...
This is in continuation to the earlier post on Bajaj Finance.A strong bullish head and shoulders pattern seem to be in the making in lower time frame charts. One need to wait for pattern completion for safe trade entry. If the price manages to cross and sustain above the neckline placed near 3330 , the targets mentioned in the chart could be achieved in August series.
Bajaj Finance, one of the most stable companies in the NBFC space has been making higher highs and higher lows since the recent fall where the stock witnessed levels as low as 1800. After a strong upmove the stock has been consolidating in a narrow range in the last month. The weekly chart shows positive swing trade setup and can offer attractive risk reward for...
The home grown automotive manufacturer from the Tata stable has been the favorite stock of those who followed Sell on Rise strategy. The southward movement in prices got arrested near 60 levels and ever since the stock has been making an effort to capture the lost ground. The recent price movement suggest a consolidation with an upward bias. One can see a...
From the life high price made in 2017, Hero Motor stock price has been on a consistent downward move. Earlier this year the stock fell near to 1500 levels and ever since has been making an attempt to reclaim some of the earlier support levels. The last four weeks price action suggest that the stock can climb to higher levels if it defends 2240-2200 levels which is...
NIFTY could be in the process of making a bearish butterfly. The ratio based traders may find the pattern interesting. The completion of the pattern requires confirmation at three critical price ranges as mentioned in the chart. If the pattern comes to fruition the index may test 9640-9660 levels and may go down to 9360-9330 levels and then go on to 10130-10170...
Titan, one of the darling stocks in discretionary consumption space had taken a beating in the recent market fall. After the down move the prices have been consolidating in a triangle and could provide trading opportunities on both sides. However the short term indicator setup suggests that a long trade near the levels mentioned in the chart can be quite rewarding...
After a protracted downward move, PEL has been consolidating with an upward bias and is now attempting a pull back. As long as the price is able to hold above 980 levels, the momentum can be on the upside and the move can take the prices to 1260 levels. Short term moving average bias is in favor of a pull back.
The targets on the upside are given in the chart....
The day after the stimulus package was announced, the market gapped up, but witnessed persistent selling throughout the day. The next day the index gapped down and again witnessed selling through out the day. On the last day of the week (May 15), the move was side ways and we can observe the formation of a Bullish CUP and Handle. If the pattern formation is not...
The index opened above the second upside target mentioned in the last CRAME NOTE . However after the gap up, the index witnessed consistent selling through out the day, though it closed above the previous close. Some interesting things to observe is that despite the selling pressure witnessed at higher levels the index made a triple bottom in the intraday chart...
Axis Bank, one of the largest players in the private banking space had come under heavy selling pressure during the recent downfall in Indian Stock Markets. The stock had come down from its life high of 827 in 2019 June to below 300 in March 2020. From the March lows, the stock recovered almost to 486 levels where it witnessed selling pressure taking it to 384...
