Big Up Move expected in sun tv Breakout of IHS pattern as well as rising channel on weekly chart. Should head towards its all time high of 974. RSI on weekly chart is about 70, indicating strong momentum.
Disclaimer : for education purpose only
IHS
GODREJCPAfter a steep correction from 800 in January till 650, it appears to have resumed its uptrend. The weekly Kumo bounce is activated along with a strong demand zone in hourly being observed today. It could do 750-775 with minor resistance around 730. View would be negated below 670
COAL INDIAIt appears strong both in the short term as well as medium term. It could test 150 (short term) and above that 165/190. For short term the view negates below 137
BHARAT ELECTRONICSIt is on the verge of an IHS breakout in weekly time frame above 112. V good support between here to 95. The Inverse Head & Shoulder upside levels are 150 / 175 / 200 over the medium term.
BANDHAN BANKIt has given a breakout in daily time frame suggesting further upside till weekly resistance at 370 then 390. Negation for this view would be below hourly Kijun at 340.
Ichimoku is a Japanese origin study based on a cluster of specific Moving Averages corelating Price and Time of a trend.
AXIS BANKIt is on the verge of an Inverse Head & Shoulder Breakout at 445. It could rise till 475-490 (with minor resistance at 455-460 - island reversal zone) as long as it does not breach 435
SBIIt appears to have completed a pullback of the IHS breakout it gave last week. It could rally till 215 & 245 as long as it does not go below 180
Nifty & NIFTYITNifty is making a Cup & Handle in lower time frame, a breakout level coincides with the Bearish AB=CD between 9600-9650 which I had already suggested as a possible level in my previous tweets, view would go wrong below 9100. At the same time NIFTY IT in hourly is on the verge of an IHS breakout which suggest 13500 as a probable level. Both suggested levels could be the culmination zones for now at least for the bounce which started from 7500.
AUROBINDO PHARMAIn daily time frame its attempting to enter into Kumo with a probable IHS formation. In weekly time frame its attempting a C Clamp structure. Has good support near 570-580 and immediate resistance at 605-610. Above that 675 is the next major resistance.
