GNA AxleMACD Indicator: The MACD histogram is currently negative, suggesting that the momentum is still bearish. However, it is starting to flatten, which could potentially signal a slowdown in the selling pressure.
Volume: The volume appears to be relatively low, which could indicate a lack of interest or a potential accumulation phase.
Community ideas
#nifty directions and levels for October 16th.The global markets are still bullish, while our local market is showing a moderately bearish trend. Therefore, there is no clear direction for the short term. Today, the market may open with a slightly positive start. If this happens, we can expect that Friday's pullback may continue further. Let's explain it one by one.
Current View:
If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. For Nifty, the expected target range is 25003 to 25059
Alternate View:
The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%.
> It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
DCAL: Symmetrical Triangle Pattern BreakoutDCAL has recently exhibited a noteworthy breakout from a symmetrical triangle pattern on the daily timeframe, accompanied by a corresponding increase in trading volume. The stock price has successfully breached the upper trendline of the symmetrical triangle, a development that is often indicative of bullish momentum. Such a breakout, supported by substantial volume, suggests a likely continuation of upward price movement.
The MACD signal line has crossed above the MACD line, a bullish signal that reinforces the potential for further upward price action. This crossover indicates increasing momentum and buying strength. The RSI is currently reading above 85, suggesting that the stock is in overbought territory. While this may indicate strong buying interest, it is also a signal to monitor for potential overextension in the price movement.
Based on the current technical indicators and chart patterns, a position around the price level of 194 . A stop-loss order is suggested at 180 to manage risk effectively. The target price for this trade is estimated at 223 , providing a favourable risk-reward ratio of approximately 1:2.
Disclaimer: This technical analysis report is provided for informational and educational purposes only. It should not be interpreted as financial advice or a recommendation to buy or sell any security. Individuals should conduct their own thorough research and/or consult with a financial advisor before making any investment decisions.
KELLTONTEC Long IdeaKELLTONTEC broke out from years long consolidation and now consolidating near retest zone.
It is good buy near retest zone if at all it comes to that. Or you can buy after channel breakout.
Stoploss is weekly close below retest zone. Will update targets later.
Trade as per risk management.
NOTE: No idea about Fundamentals of company. It is just technical take.
LTIM - Getting ReadyThe chart is self explanatory. Since Nov. 21, the price has been forming a Triangular pattern. Already given a breakout of that.
Since Jan. 24, A Cup & Handle pattern is formed and a breakout is seen on the charts.
At present time, we can observe the retest of the both breakouts.
If the price gives a bounce back from present range of 6000-5800 and sustains above, may see a bullish run upto 7000/7500 and even more.
If sustains below 5600, the setup goes weak.
One should mind the position size according the risk-management.
The above illustration is my own view, only for learning and sharing purposes, not a trading advice in any form.
All the best.
Range + Cup & Handle Breakout In Eicher MotorRange + Cup & Handle Breakout = Lethal Combination
1.Got 6 Years Range + Cup & Handle Breakout on Dec 2023 Closing ( 4143.5 )
2. April 2024 Monthly Candle Closed At 4597.4, Above The Breakout Level Of Dec 2023
TRADE:
Buy 50% Here At Cmp - 4765 & Rest 50% If You Get Any Dip To 4150-4200
SL - 3880 ( Monthly Closing Basis )
Target = 6500++
FINOLEX INDUSTRIES by KRS Charts18th October 2024 / 11:45 AM
Why FINPIPE ❓
1. All over Uptrend Stock since listed.
2. Recent bottom with Cup & Handle Pattern Breakout and Retest with Strong Green Candles with Strong Volume 👍
3. 283 Rs nearest Good Support
4. Better Entry zone marked as we can see in the Chart.
Target - 400 + Rs
SL - 260 Rs Closing Basis
Broke Downtrend Resistance Zone Now Looking Very Strong ✅The stock has broken out of a symmetrical triangle pattern a formation that typically signals a continuation or reversal of a trend. The breakout above the upper trendline indicates that buyers have regained control and the stock is poised for further upside. This move marks the end of the consolidation phase and suggests a potential rally.
✅The stock has been making higher low indicating accumulating buying interest at each dip. This consistent buying pressure has led to the breakout signaling a shift towards a bullish trend. The breakout was accompanied by a significant spike in volume confirming the strength behind the move. This suggests that the rally is backed by strong buying interest likely from institutional participants which adds credibility to the breakout.
✅ The RSI is currently at 67 reflecting a solid upward momentum. Although it’s approaching the overbought zone, it still has room to climb, especially if the bullish momentum continues. Traders should watch for any consolidation at current levels, which could act as a springboard for further upside.
✅The next resistance level is around 570-580 where some profit booking might occur. However if the stock continues to gain momentum and clears this level we could see it move toward 600, followed by 620. These levels align with the height of the symmetrical triangle pattern offering a clear target range.
Praj Industries Ltd - Trading BoxPraj Industries Ltd has formed a rounding pattern from November 2023 to June 2024, followed by a breakout and subsequent retest. Although the price initially surged, the target has not yet been reached. Currently, the stock is trading in a range with support at 715 and resistance around 820. Recent high volumes suggest a potential upside breakout is imminent, with both the range target and rounding pattern target aligning at 950. This confluence strengthens the bullish outlook for the stock.
Disclaimer
Please Note Above analysis will work if price pierced and closed above resistance zone.
monthly+weekly breakout in RALLIS INDIARallis India, a Tata Group company Group Co., has a history of over 150 years. The company is into manufacturing of Agrochemicals and is present across the value chain of agriculture inputs - from seeds to organic plant growth nutrients. Rallis is also in the business of contract manufacturing for global corporations
Primefocus HUGE BASE OF 18 years is about to break.Hi there,
VCP Trader here again!
Hope you're having a great day. Have you ever witnessed a stock double or even triple in value? I’m sure you have! But have you ever wondered what drives such massive returns?
While fundamentals and earnings certainly play a role, I’m here to shed light on the technical side of things.
Take a look at the monthly chart of Prime Focus. The base started forming in 2006, and after 18 long years, it’s now sitting right at the top of this base in 2024. This long-term base formation is just one key factor, but how it's formed is equally important.
As illustrated in the chart, you can spot three distinct legs of the stock, with the price contracting from left to right. It's almost as if the stock has run out of room within the base. What excites me the most is the consolidation right before a potential breakout—right at the top of the base.
I believe this stock is poised for a 100% gain, and I expect it to begin its upward movement from the current zones. My target for the stock is 275.
Note: This idea will be invalidated only if we see a monthly candle closing below the third leg of the Volatility Contraction Pattern.
— That VCP Trader
Kotak Bank - SidewaysStock stuck between strong supply n demand zone now
1910-20 will act as current n strong resistance area
1870-80 will act as a strong support area as of now
Stock may remain in the zone for the time being before braking out
Excellent opportunity for straddle players at the moment as even time n premiums are in favour
break above 1930 or below 1960 will negate the trade
CDSL - Descending TriangleNSE:CDSL
📅 Date : 14-10-2024
📉 Chart Pattern : Descending Triangle
🕒 Time Frame : Daily Chart
💹 CMP : 1518
Buy Above : 1525
🎯 Targets : 1840 (3 Months)
🔻 Stop Loss Level : Closing Below 1465
How does the descending triangle pattern form?
A descending triangle pattern shows the behavior of sellers. It describes sellers as more aggressive than buyers, causing prices to fall and make continuous lower highs. This trend indicates weakening demand for the security, but a horizontal line prevents the price from dropping further. The price keeps declining for a while but does not cross the support line. When the price reaches the breakout point, it starts declining, signaling the start of a bearish trend in the security. The lower highs indicate increased selling pressure, responsible for a bearish trend.
Disclaimer: I am not a SEBI registered analyst. The charts and levels are posted for educational purposes only and are not recommendations. Please consult your financial advisor before trading or investing. I am not responsible for any gains or losses you may incur.
Happy trading! 📊🚀
DIVISLAB's Open Interest Jumps 6%: Bullish Sentiment BuildsFollowing a strong upward trend, the stock encountered significant resistance near the 5,300 level, resulting in a steep drop.
Afterward, the price found support near the 2,700 mark and managed to bounce back.
During this consolidation phase, the stock price has developed a Rounding Bottom pattern.
With a clear breakout, the price is now set for an upside rally.
A notable increase in future open interest—around 6%—has been recorded for this stock.
This rise in both the stock price and future open interest indicates that significant investors hold a positive outlook on this stock.
Amazing breakout happened in an IPO Stock - PAVNAINDCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favor that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
The magic here is to make sure we are investing in an IPO stock which is about to fly for a long term. We are studying the trend and not jumping into the stock quickly. Instead we are waiting and placing the order in a particular BO level.
Catching the early birds in the stock market and not everyone (especially retail traders) can do it. The art is investing fixed amount equally in every stock and let the law of numbers work on compounding in the longer run,
Example: 5000/- invested equally in all BO stocks where out of 15 stocks only 1-2 stocks goes beyond -50% SL, where rest of the stocks flies like an eagle. The secret recipe is "Patience with correct study" and "Large diversification" and "TIME"
The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play.
LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
TRITURBINE: A Technical Breakout Backed by Strong FundamentalsTriveni Turbine Ltd.
Stock Symbol: NSE:TRITURBINE
Market Cap: INR 23,700 crore
Buy Range: INR 767-805
Current Price: INR 795.80 (as of October 13, 2024)
Introduction
Triveni Turbine Ltd., a leading player in the industrial steam turbine market, is positioned for significant growth due to its robust order book, growing presence in international markets, and strong financial performance. Coupled with a recent technical breakout on the charts, this stock is showing promising signs for investors and traders alike.
In this article, I will analyze both the technical setup and the fundamental strengths that make Triveni Turbine a stock worth watching.
Technical Analysis
The recent price action of Triveni Turbine showcases a bullish breakout from a well-defined consolidation phase. Let’s dive deeper into the technical indicators driving this breakout.
Consolidation Phase : Over the past few months, Triveni Turbine had been trading within a narrow range, oscillating between INR 670 and INR 750. The stock formed a descending trendline that acted as resistance, suppressing any potential price rise. Such consolidations often lead to strong price movements, depending on which way the breakout occurs.
Breakout: On October 11, 2024, the stock decisively broke above the trendline resistance, hitting a new high of INR 805, closing at INR 795.80—an impressive +6.88% gain for the day. Breakouts from consolidation phases like this often indicate that a new uptrend may be forming, with more upside potential.
Volume Spike : A key confirmation of this breakout is the noticeable spike in volume. The breakout occurred on significantly higher-than-average volume, signaling strong buying interest. A volume increase typically accompanies strong breakouts, suggesting the move is backed by institutional or large-scale buying.
Support and Resistance: Post-breakout, immediate support is established around INR 750-770, where the stock had previously struggled to move past. The next resistance zone lies around INR 840, which would be a key level to watch in the short to medium term.
Technical Indicators : The 50-day moving average (MA) is trending upwards, further supporting the bullish momentum. The stock is currently trading above its MA, adding to the strength of the ongoing price trend.
In conclusion, the breakout from consolidation, supported by rising volume and positive technical indicators, suggests further upside potential for Triveni Turbine.
Fundamental Analysis
Now, let’s turn to the fundamentals, which further bolster the case for Triveni Turbine’s potential for sustained growth.
Industry Leader in Steam Turbines: Triveni Turbine holds a dominant market share of over 60% in India’s industrial steam turbine market. Its steam turbines, used across more than 20 industries and installed in over 75 countries, make it a global leader in the space. Industries like sugar, steel, cement, chemicals, and waste-to-energy systems all benefit from its innovative turbine solutions, especially as demand for decentralized power generation grows.
Record-Breaking Financial Performance: In Q1 FY25, the company posted its highest-ever quarterly revenue and EBITDA. Notably, the EBITDA margin expanded by 240 basis points year-over-year, showcasing significant operational improvements. This robust performance sets a strong foundation for continued financial success in the coming quarters.
Impressive Order Book: Triveni Turbine’s order book stands at an impressive INR 1,600 crore, offering strong visibility for revenue well into FY26. The company's quarterly order bookings surged by 40% year-on-year, with exports accounting for a substantial 66% of the total. The company's increasing focus on international markets offers immense growth potential, while the domestic market remains poised for recovery in the coming quarters.
Aftermarket and Refurbishment Services: One of the standout growth areas for Triveni Turbine is its aftermarket and refurbishment services. This segment has seen notable growth in revenue share and operates at higher margins compared to its core product sales. With the ability to service and upgrade turbines from other OEMs, Triveni Turbine is uniquely positioned to capitalize on long-term customer relationships and expand its presence in this high-margin segment.
Focus on Renewable Energy: As industries and governments globally push for renewable energy solutions, Triveni Turbine’s expertise in waste heat recovery and waste-to-energy systems gives it a competitive edge. The growing demand for renewable energy solutions and decentralized power generation will further enhance the company’s growth prospects in the future.
Growth Catalysts
Several factors make Triveni Turbine a compelling growth story:
Rising global demand for decentralized steam power systems.
Strong export performance, with 66% of orders coming from international markets.
Expanding margins from high-margin services like aftermarket and refurbishment.
Leadership in renewable energy applications, particularly in waste-to-energy and heat recovery systems.
Risks to Consider
While Triveni Turbine is fundamentally strong and the technical chart signals bullish momentum, there are some risks to be aware of:
The subdued domestic performance in Q1 FY25 due to the election cycle. However, this is expected to recover in the coming quarters.
Currency fluctuations may impact export margins, as a significant portion of revenue is generated from international markets.
Conclusion
With both strong technicals and robust fundamentals, Triveni Turbine Ltd. presents a compelling opportunity for both traders and long-term investors. The recent breakout on the chart, combined with the company’s strong order book, growing international presence, and focus on high-margin services, make this stock a strong contender for future gains.
However, as always, investors should exercise caution and consider their risk tolerance before making any investment decisions. Given the breakout, the stock is now trading within the buy range of INR 767-805. Those looking to enter should watch for potential pullbacks to the support zone around INR 750 or look for continued strength above INR 805.
Disclaimer: This post is for informational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making investment decisions.
Change of Polarity With Good Q2 Results.NSE:JUSTDIAL on Weekly Timeframe Changed its Polarity (Resistance acting as Support),
After giving a Breakout and retesting it, it Accumulated in the 512-576 Range. Now, With Good Q2 FY 24-25 Results, it looks good for positional Techno-Funda Trade above 1400 Levels on the Weekly Timeframe.
NSE:JUSTDIAL is the market leader in the local search engine segment in India. The Company provides local search-related services to users across India in a platform-agnostic manner. The multi-platform offering includes an App (Android, iOS), a mobile website, a desktop /PC, voice, and text.
Check out my other stock ideas below until this trade gets activated, I would love your feedback.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
INFY: Consolidation near ATHThe stock is consolidating neat ATH where as overall IT sector is on the up-move.
This stock is just gathering all power to break and sustain it's ATH.
Till now there is no closing above the consolidation but once it is there, this stock has all potential to move up to 2500 levels.
DISC: The publication idea is just a technical analysis and should not be considered a buy or sell recommendation. Please consult your financial advisor before taking any trade.
