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Economic Cycles

RBLBANK changing trend.The stock is showing a pattern of change in trend, with a consistent upward movement characterized by traditional higher highs and higher lows. Compared to the previous movement dynamics, it now exhibits bullish behavior. Basis of Analysis: 1. EMA Support Seeking (35 EMA):** The stock is finding support at the 35 EMA, indicating a significant level for the monthly timeframe. 2. Change in Market Structure:** There is a clear shift in the market structure from lower lows and lower highs to higher highs and higher lows. 3. Constant Volume Decline:** Typically, after a certain period of volume decline, there is an outburst of volume, which may signal a strong bullish movement. Therefore, these factors suggest a potential bullish movement in the near future.
NSE:RBLBANKLong
by Ananthkaranth
BAJAJHIND - Possible 12-Year Breakout?Bajajhind (Bajaj Hindusthan Sugar Ltd) closed yesterday at 36.25, bringing it close to the critical level of 39. A monthly close above 39 could potentially push the stock to 50 or even 58 levels. This stock attempted to break past 39 in February 2024 but failed to close above it. Since then, it has been trading within the range of 26.80 - 40.50. Keep an eye on volumes and the monthly close for confirmation of this breakout. While technical indicators look promising, always conduct your own research and consider fundamental factors before making any investment decisions.
NSE:BAJAJHINDLong
by PriteshPalan
1
Dabur Long Term TargetsThis is a Weekly chart. Here are some observations: 1. Price has been in a downtrend since Oct 2021 forming a large cup potentially finishing around Jun 2025 with neckline at ₹650 2. The red trendline still has to be broken to officially get into the uptrend 3. The recent green trendline has been breached following the healthy Quarterly results posted yesterday 4. Price has touched levels of 500 multiple times suggesting it to be a strong support zone 5. Multiple resistance levels on the way up particularly at 565, 600 and 650. All of them can be used as short term targets as well 6. Final target at 800 based on the cup (500 to 650) Growth Drivers: 1. Economy has faced high inflation in recent times reflecting in the downtrend of stock performance 2. Consumer companies are reporting rural uptick in sales 3. Global consensus of rate cuts in 2024/2025 4. India’s growing population and per capita income Verdict: Considering both the macroeconomic factors and the fundamental/technical combination of Dabur, it seems like it has bottomed out at around 500 and is ready for the uptrend likely to hit ₹800 in the coming years. A handle formation is likely at ₹650, so the earnings have to be tracked closely. Happy trading!
NSE:DABURLong
by tej_s9
2