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Sun Pharma: Looking better Sun Pharma Last time when stock was at 482, we were not very confident for a big move past 505. The stock made a high of 509, came down till 466 and is now back at 483 levels. How ever this time the chart looks much better. After the stock made a low of 432 on 14-Aug-2017, the stock has now given higher top (490---499---509) :: higher bottom (432--459 --466) so far And if 460 /466 zone is held, the stock has every chance of making higher top breaking past the blue line (around 500 levels) & head higher towards 567 / 640 zone. Take care & safe trading...!!!
NSE:SUNPHARMALong
by indiamarketoutlook
SBI: Whats the story...SBI CMP 256 Observations - trading in ascending channel since Feb 2016 - currently at lower end of channel -trading below 50 day EMA - trading below 200 day EMA View going forward Scenario 1 - stock is at major trendline support & if the stock holds on to current level then - the stock may see a bounce towards either 50 day EMA currently around 278 or max towards mid red line of channel around 295-305 levels - and then we may see a bigger fall Scenario 2 - The stock breaks past the channel support - takes support around green line (around 244) - on bounce finds resistance at 200 day EMA - & falls again Given the chart setup - likely short term target 269-278 - & if we seen rejection on any bounce then the target over medium term looks likely to be around 220-196 Take care & safe trading...!!!
NSE:SBIN
by indiamarketoutlook
Tata Motors: Got the bounce... What next...???On 5th Sept we discussed 2 possible scenarios for Tata Motors that we are looking at... 1st was Tata Motors holding 374 on the downside and jumping towards 405-416 levels The stock made a low of 374.05 precisely and has managed to crawl back above 405 levels... Now if we see Tata Motors share price getting rejected here... then we are starring at the bigger trade potential on the downside with target potential of 348. This is more of a positional trade and pattern gets invalidated if stock closes above 426 Take care & safe trading...!!!
NSE:TATAMOTORSShort
by indiamarketoutlook
Tata Motors: Island formationTata Motors Observations - Last year on 31-May-2016 the stock opened with a significant gap up & closed at 459 up 38 points from its previous day close of 421 - This year On 8-Aug-2017, the stock opened significantly lower and closed at 380 down 36 points from its previous day close of 416 - the gaps have occurred from similar levels 421 and 416 respectively and of similar magnitudes on a closing basis (38 & 36 points respectively) - thereby forming an island of trade of more than 1 year Scenario 1 The stock goes up... sees price rejection and falls down Scenario 2 Stock gets sold in to and falls deeper Strategy 1 Buy at current levels for target of 405-415 If the stock sees price rejection around the 416-422 zone then sell for downside target of 344-348 and probably even 322 Strategy 2 The stock goes below 374 and is unable to recover above 384 then sell with minor stop of 384 for target of 344-348 - wait for a bounce back. if we see price rejection again in the zone of 362-380, then sell for deeper targets Take care & safe trading...!!!
NSE:TATAMOTORSShort
by indiamarketoutlook
PERSISTENT SYSTEM - (LONG) WEEKLY MULTIPLE BOTTOM SUPPORT.Stock price has reached its long term support of multiple historical bottoms placed around 555 on the weekly chart RSI is placed around 40 and showing some strength. Stochastic oscillator has reached oversold zone and just crossed its signal line upside, indicating the chances of bullish trend reversal. Stock is on the verge of forming bullish engulfing candlestick pattern on the weekly chart So One can buy NSE:PERSISTENT @ 560, for a target of 625 and keep stop loss at 545. - SB7 INVESTMENTS.
NSE:PERSISTENTLong
by VIRUSSOUL