Same as the IT index, tech Mahindra also ready to breakout from the 5 months consolidation zone. keep watching...
As you see the price it is struck inside the rectangular darvax box pattern as same as Nifty IT index. Nifty IT index has made breakout the resistance and hit ATH, the same way we are expecting the HCL also break the upper resistance and enter into uncharted territory soon
After 5 months of consolidation, the IT index has breakout from the box. As Largecap IT is not performing well because they are the heavyweights of the index, now it time to bet on large cap IT giants like HCL tech, TCS, Infosys etc.,
Price Action Analysis. On the larger picture , it is a flag breakout after which it has consolidated for a while. Usually such breakouts are full of steam. Let us see.
The stock is over all riding a Rising Parallel Channel. Inside that it has been consolidating in a Darvas Box from late 2020. Inside that, it has formed an Inverted Head and Shoulder pattern to breakout from this consolidation. Ride the Trend.
Simple price action analysis . Just riding on a Breakout.
INTRADAY SYMMETRIC TRIANGLE FORMED CMP -1385 ENTRY - 1398 TARGET 1 - 1404.60 TARGET 2 - 1409.00 & 1416 take trade once the candle closes the entry value. SWING TRADE DARVAS BOX BREAKOUT FOR LONG IN SUPPORT LEVEL AGAIN CMP -1385 ENTRY - 1398 TARGET 1 - 1409.60/1426.15 TARGET 2 - 1452 trail the stoploss near T2 for 1500 Breakout...
Kitex garments is under long time consolidation. Volumes are visible. Breakout anytime possible. Keep watch with TGT - 30-50%; SL- 10-12% ;
Self Explanatory. As one can see at times there are false spikes, which is why I raised the breakout level to 510 (closing basis) instead of 504-505.
NSE:TITAN was trading inside the range(box) for nearly 6 months and finally broken out with a wide range bullish candle supported by heavy volume. Note : Before breakout the stock consolidated near resistance for around 6 days(Highlighted in yellow). Hence the stock might continue to rally for another session and then pullback. Always do not chase the price...
ALKEM LAB TRADING IN RANGE (DARVAS BOX) FROM LAST 8-9MONTHS ... SEEMS BO GOOD ENTRY IF BREAKS N HOLD THE LEVEL Closing above the range can be a good long opportunity.
Negative Divergence is seen in the weekly chart of Techmahindra. So trade carefully in upcoming days.
All figures on closing basis.
Moving along with sector. SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis) BUY GUIDANCE: Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the...
Moving along with sector. Approaching ATH. SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis) BUY GUIDANCE: Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 -...