VEDL has been moving in an rising wedge for a while,it got out of the wedg just to retest the six-year highs couple of times.Right now its back on the edge of the wedge.
Awaiting breakout or reversal on account of the result.
Double bottom formation done. Waiting for breakout at 66.10. MACD cut will happen on coming days. Stoch also moving from oversold region.
Target range :62,66.
After breakout the double bottom range on upside Target is 74-78
KPIT has a high PEG ratio of 1.48. This means the fair value of the stock is around Rs 100.
Technically, it is forming Double Top + Evening Star.
Good candidate for short if the next daily candle opens below today's low.
Target T1: 127
Target T2: 115
Long Term Target: 108
SL: 139.5 (Today's high)
Journey of 2 TM's (Tech Mahindra & Tata Motors) downside post diwali was exciting as both cracked downside. Tech M went down sharp from 474 to 454 as of 24th Oct2017 - gave a double bottom @453 & ended today's session whereas Tata Motors down from 435 to 416
If 480 is intact on upside - we look Tech M down as per previous post
Previous Post - Weekly Bearish...
It has been observed that the price action breaks above the consolidation triangle indicating buyers comeback and further move up. The company is fundamentally strong and sounded.
Key Ratios:
Market Cap: 2500 Cr.
P/E: 11.65
CMP/BV: 1.53 times
Debt to Equity: 0.24 times
Operating Profit Margins: 10-12%
ROE: 14.75%
(Resources: screener.in)
Short Term...
TCS Tripple TOP
1 can look too short it at/below 2579.5 with 2615 as SL
T1 - 2569
T2 - 2541
T3 - 2518
T4 - 2495
as expiry is approaching
aggressive trader short 2600 CE CMP = 16.6 so profit 16.6*250=4150 if stock stays below 2600
conservative trader short 2650 CE CMP = 5.5 so profit 5.5*250=1375 if stock stays below 2650
Castrol India Double/Triple Bottom
Created Hammer a day before yesterday and yesterday it created Doji and today Shooting Star
Seems like Good support which is hard to break so Lets go long with proper SL
Long at/above 355 with 347 SL
Target - 38.2% Retracement
There is Bullish Butterfly but as per our ABCD Entry will be activated at/around 250
There is a case of Double Bottom too but that too needs price to come around 250 levels
1. so our projection is to wait for proper entry
2. desperate trader long tommorow with current candle Low as SL
3. we will wait for price to come more down so we get entry as per our...
NSE:CASTROLIND has taken double support with double bottom as well and trendline.
Castrol has also made a dogi at the bottom in a down trend signaalling reversal.
Buy Castrol above 365
Target - 370 / 393 / 407 High probability that Castrol will at least breach second target
SL 350. Short SL 356
Nifty taken trend line support.
Taken support @ 50% Fibo.
Formed double bottom & bounced.
Details mentioned in chart. (Spot Levels).
Risk reward favourable.
Positional View for October Series.
I am not a SEBI Registered Financial Advisor.
