1. HAS BEEN IN GOOD MOMENTUM
2. SECTOR IS ALSO PERFORMING WELL
3. RESISTING AT ITS 0.618% (GOLDEN RATIO) LEVEL
4. FORMED DOUBLE DOJI ON DAILY TIME FRAME
INTRADAY : DOWN SIDE
SHORTS CAB BE INITIATED IF PDL BREAKS (166.5) FOR TARGET OF 164.5
Double Bottom Breakout above 526
The Stock fell suddenly from 560 levels
Opportunity to grab it at CMP
Target 1 - 526
Target 2 - 542
Safe players can take entry at 526
Stop loss 505 for Target 1 and Trail SL for Target 2
DOUBLE TOP __1 day chart pattern
APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
Althrough posting it little late..
Jubilant ind has formed double bottom.. I knew it will go up 1 week back.. anyway still its a buy.. if it crosses the neck line..
also bulk deals are happened so we can expect upmove for a shorter time frames of 1 week....
share your comments too..
Based on the previous analysis posted if the price rally upwards then the possible targets are posted ..
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
LT may garner some support for the falling nifty and with help of other stocks can help nifty to gain some momentum on the upper areas tomorrow its expiry weekly so need to keep a close check on such good corrected stocks like reliance axis titan maruti m&m pharma stocks