Buy ITC Short Term Trading Advice by Goodluck Capital
Buy ITC
Buy Range- 457 - 462
Target- 485 - 490
StopLoss- below 450
Potential Return- 6-7%
Approx trade duration 14 - 15 days
Indianstocksanalysis
ONGC Witnesses a Multiyear Breakout - What's Next?
When analyzing the monthly chart, it's clear that the stock price has experienced numerous fluctuations.
In June '14, the stock reached a high near 315 level before taking a sharp downturn.
By March 2020, the stock price had plummeted to just 50 INR.
However, from that point, the stock began a strong upward movement with significant volume increase.
An ascending triangle pattern appeared on the chart, and the price successfully broke through the pattern to continue its upward trend.
Ultimately, the stock managed to surpass its previous resistance.
As long as it maintains above the 300 level, the price is likely to continue its upward trajectory.
TCS & Just Dial - Getting Ready for a Bull Run
After the market crash in 2020, the stock price experienced a significant upward movement and reached close to the 3,990 level, which was the previous all-time high for the stock.
Subsequently, the stock entered a downtrend until the price found support near the 2,900 level.
Following this, the stock price began to rise again and reached a new high in March’24 at around the 4,250 level.
After a pullback, the stock successfully broke through the neckline of the Inverted Head & Shoulder pattern, which had formed during the entire consolidation phase.
If this breakout sustains, we may witness a further price rally in the coming days.
The stock price reversed its downward trend by breaking through the Ascending Triangle pattern upwards.
After dropping near the 1,150 level, the stock rebounded strongly and started moving upwards.
The stock price found support around the 520 level after a significant drop and started climbing.
An Inverted Head & Shoulders pattern appeared on the chart during the consolidation phase, signaling a possible trend reversal.
Following the breakout, the stock price moved upwards but faced resistance at a previous level.
After a brief pullback, the stock price successfully broke through the resistance and continued to climb.
Infosys and Atul Ltd. Showing High Rise In Future OIINFY
The stock price was strongly rejected near the 1,730 level and experienced a significant drop.
Later on, the stock found support near the 1,380 level and started to climb.
Once the price broke through its trendline resistance, it made a sharp upward movement and reached its previous resistance area.
Due to the rising volume, there is an expectation that the stock could break through the resistance and continue to move upward.
Additionally, the MACD indicator is showing strong momentum as it is trading above the zero level.
ATUL
The stock has been on a downward trajectory, consistently creating lower highs and lows.
A recent breakthrough of the parallel channel has been noticed, accompanied by a rise in trading volume.
Moreover, the RSI indicated a divergence amidst the downtrend, with the current RSI standing above 70, indicating strong buyer momentum.
There is a potential for the price to move upwards from its current position.
Laurus Labs and Fine Organic - Reversal Breakout Alert!
In the past, the stock found strong support around the 450 level, but when the price dropped below this support zone, it experienced a significant decline.
The stock started to move upwards within a parallel channel after finding support around the 290 level.
A recent bullish candle allowed the price to break through its trendline resistance with strong volume support.
The stock also broke through the upper Bollinger Band and has been able to sustain its position above it.
With the price showing strong upward momentum, there is potential for an upward movement from the current level.
The stock price reached an all-time high of nearly 7,330 before dropping sharply to around 4,100.
After the decline, the price entered a consolidation phase and traded in a Box pattern.
A breakout has occurred recently, with the stock surpassing its previous range and trying to maintain its position.
The rising volume suggests the possibility of an upward movement from the current level.
Momentum Trading Picks: Welspun Corp & Himadri Speciality Chemic
Price went through a significant consolidation after a big rally.
Volume completely dried up during the consolidation phase.
Price recently broke out strongly, surpassing its resistance area.
Rising volume suggests buyers are becoming more interested in this stock.
A bullish MACD crossover confirms the strong momentum in price.
The price created a symmetrical triangle shape and stayed stable for a while.
There was no trading volume during this time.
Following the breakout, the price stabilized above the breakout point and then retraced.
After a successful retracement, the price is now moving upwards with significant trading volume.
A bullish MACD crossover confirms the strong momentum in price.
NIACL - Looks Good!Pattern:Symmetrical Continuation Triangle (Bullish)
Time Frame: Daily Chart
Script: NSE:NIACL (New India Assurance Company Ltd)
The recent price movement indicates a breakout from a consolidation phase, signaling the potential continuation of the previous uptrend.
This pattern aligns with the characteristics of a Symmetrical Continuation Triangle (Bullish), where two trendlines converge due to the price making lower highs and higher lows.
During this period, trading volume typically decreases as the price oscillates within a narrowing range, reflecting uncertainty.
However, before the triangle's apex is reached, a breakout above the upper trendline occurs, accompanied by a significant increase in volume.
This breakout serves as a confirmation of the continuation of the prior uptrend.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
DIVISLAB and ONGC showing high rise in Future OIDIVISLAB
The price has been consolidating in a narrow range for more than a year.
Recently, the price successfully surpassed its resistance level.
Since the breakout, the price has maintained above the breakout point and is steadily increasing.
The current RSI is above 60, suggesting strong buying pressure.
ONGC
Before, the price was rising steadily, pushing the highs and lows higher.
Since March’24, the price has entered a consolidation phase, and an ascending triangle pattern has been established.
A breakout with significant volume has occurred recently.
The RSI is currently above 60, indicating strong buying pressure.
BBTC: Keep an eye on this multiyear breakout stock(1) The price at the 2050 level was strongly rejected in the past, leading to an 63% decrease.
(2) Eventually, the price found support near 690 and began to rise.
(3) However, it was rejected again near 1570 and fell.
(4) The price surged after a notable increase, breaking through its trendline resistance and carrying on with its upward momentum.
(5) At long last, after nearly half a decade, the price managed to shatter its resistance barrier and hold its ground above it.
Glrnmark Pharma's upward trend is notable. Can it be maintained?(1) Before, the price was strongly rejected around the 1250 level.
(2) Then, the price dropped by about 85%.
(3) Later on, the price found support near the 165 level and began to rise.
(4) However, the price was rejected again around the 690 level and dropped.
(5) After a significant increase, the price finally broke the neckline of the Double Bottom pattern and continued to rise.
(6) Finally, after nearly 9 years, the price successfully broke through its resistance zone and maintained its position above it.
Volume Surge in NCC: What it Signals for Future Growth?(1) The price had previously formed an ascending triangle pattern and broke out of the pattern with a large volume.
(2) After that, the price continued to move upwards by creating higher highs and lows.
(3) Now, the price is trading close to its all-time high with a decent volume and is expected to move even higher
Astral rising: How the Stock Price Defies Gravity in the Market(1) The price broke through resistance and surged after a prolonged consolidation
(2) It is now maintaining upward momentum with higher highs and higher lows.
(3) Following a breakout, the price is near its record high and expected to keep rising.
CholaFin Wave Analysis - Wave 3 is Running! Use Ichimoku to RideCHOLAMANDALAM (CholaFin) Chart Analysis
As per Elliott Wave analysis, CholaFin is still bullish. The price reversed after a strong bullish divergence in the MACD and has completed the subwaves of Wave 2 of Wave 3. Currently, it is moving up in Wave 3 of Wave 3.
Use Ichimoku for entry & exits (Daily time frame):
Entry Point: Look for a good dip to enter and avg(for long-term) when the price is near the Ichimoku Cloud's support. Enter when the Price breaks TS/KS with momentum candle.
Exit Point: Consider exiting the position when the price starts to show weakness near TS and KS in daily chart. Another exit signal could be when the candle close below the cloud.
By using the Ichimoku indicator in conjunction with Elliott Wave analysis, you can identify more precise entry and exit points to maximize your trading strategy.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
Long Position in Ramco CementLooking at the chart in the higher time frames you can see a clear tap in to the M timeframe OB.
A strong displacement to the upside creating a OB in the W timeframe - unmitigated.
Gap at the top acting as a magnet for price to move into.
Very clean CoCH and BOS giving confirmation of the move up into higher levels.
A great entry be entry in the GOLDEN level of price retracement - 60% fibs
Levels are in confluence with the W +OB.
Expect price to tap into the W +OB and move higher to the magnets (GAP liquidity, trendline short liquidity)
Happiest Minds Tech Critical LevelIf Slowdown in IT sector continues, Happiest Minds may go down and take support near 530-585.
Revenue Growth and OPM of Happiest Minds are continuously falling
FY22 - 41% & 24%
FY23 - 31% & 25%
FY24 - 14% & 21%
Q4(24) - 10.4% & 20%
Return on Equity
5 Years: 30%
3 Years: 26%
Last Year: 21%
If it continues like this, It may not trade on Premium Valuation like before
Technically, If it will break down successfully of Level Fib(0.618) or 800(PSY), May go down and take support on Fib(0.786) or previous Support area (530-585)
Disclaimer : This is only for Educational Purpose. I'm not a SEBI Register Advisor.
JSW Infrastructure Limited - Looks Good!Pattern : Symmetrical Continuation Triangle (Bullish)
The recent price action indicates a breakout from a consolidation phase, signaling a potential extension of the previous uptrend.
A Symmetrical Continuation Triangle (Bullish) is characterized by two trendlines converging as the price forms lower highs and higher lows. During this formation, trading volume tends to decrease as the price fluctuates within a narrowing range, reflecting uncertainty among market participants.
Prior to the triangle reaching its apex, there is a notable breakout above the upper trendline accompanied by a significant increase in trading volume.
This breakout serves as confirmation of the pattern, suggesting a continuation of the preceding uptrend.
Also there is divergence between Price and MACD.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
BIRLACORPN - Looks Good!Script : BIRLACORPN
Time Frame : Daily Chart
Type Of Pattern Identified : Symmetrical Continuation Triangle pattern
A Symmetrical Continuation Triangle pattern , is typically seen as a bullish continuation pattern. This pattern usually indicates a temporary consolidation before the price continues in the direction of the prior uptrend.
Traders often look for a breakout to confirm this pattern, usually with increased volume supporting the breakout.
This breakout suggests a potential continuation of the uptrend.
Remember to consider other factors and confirm with additional analysis before making any trading decisions.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
Navin Fluorine INT - Looks Good!NSE:NAVINFLUOR - Daily Chart analysis
Price Vs RSI divergence seen on daily chart
Price Vs MACD divergence seen on daily chart
Bullish Head and Shoulder Pattern seen on daily chart.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
Bullish Bottom Triangle - Paisalo Digital LtdA bullish "Bottom Triangle" chart pattern on Paisalo Digital Ltd ( NSE:PAISALO ). This pattern suggests a potential upward movement in the stock price from its current close of 73.45 to a target range of 83.00 - 87.00.
A Bottom Triangle pattern typically forms over a period of uncertainty or consolidation, characterized by two converging trendlines as prices reach lower highs and higher lows.
During this period, trading volume tends to diminish as the price fluctuates within a narrowing range, indicating market indecision. However, before the triangle reaches its apex, the price breaks above the upper trendline with a notable increase in volume, confirming the bullish reversal of the prior downtrend.
This pattern suggests that the stock price may have reached a bottom and is poised for an upward movement.
Traders and investors may interpret this as an opportunity to consider buying positions in anticipation of a potential price increase within the indicated target range.
It's important to note that while technical analysis patterns can provide valuable insights, they are not guaranteed predictors of future price movements. Therefore, investors should conduct thorough research and consider other factors such as fundamental analysis and market conditions before making any trading decisions.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
NIFTY 50 VIEW FOR 9th APRIL 2024Nifty has been showing some strength now. Expecting it to continue moving up and create new ATH and make a new one. It can test the marked Demand zone 1 ( 22530 - 22459 )or Demand zone 2 ( 22193-22088) and then move up to take the ATH too.
THIS IS MY PERSONAL ANALYSIS FOR MY PERSONAL TRADING.
MOIL - Diamond Bottom PatternIt appears that the NSE:MOIL has found its footing, indicating a potential reversal as it breaks out upwards following a period of indecision or stabilization.
The Diamond Bottom pattern initiates amidst a downtrend, characterized by the formation of higher highs and lower lows within a widening pattern. Subsequently, as the highs reach their peak and the lows begin to ascend, the trading range gradually contracts. When the price breaches the upper boundary of the diamond pattern, it signals a notable reversal, marking the onset of a fresh uptrend.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
Borosil Renewables Ltd - Looks Good!Script: NSE:BORORENEW
Pattern: Symmetrical Continuation Triangle
A Symmetrical Continuation Triangle (Bullish) is a technical analysis pattern often observed in financial markets, particularly in price charts. It is characterized by converging trendlines that form a triangle pattern. This pattern typically occurs during an uptrend and suggests a continuation of the bullish trend after a brief consolidation period.
Breakout: The pattern is typically resolved with a breakout in the direction of the preceding trend, which in this case is upwards. Traders often look for a decisive close above the upper trendline as confirmation of the bullish continuation.
Target: The price target for a bullish continuation is often measured by the height of the triangle at its widest point, projected upwards from the breakout point. This provides an estimate of how far the price could potentially move in the direction of the breakout.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
Himatsingka Seide - Keep In Radar!Breakout in NSE:HIMATSEIDE : As the supply of shares at that resistance level diminishes, buyers become more dominant. When the supply finally depletes, the stock price breaks out decisively above the upper trendline or resistance level. This breakout signifies a shift in the balance of power from sellers to buyers, and the stock price typically starts moving higher.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade
