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Go Long on ALBK for Target of 110 with a stop loss of 54After the news of recapitalization of about Rupees 2.11 Trilion for Public Sector Banks the NSE:CNXPSUBANK charts were negative to sideways consolidations, Considering this sideways movement this gives an excellent opportunity to invest in PSU BANKS. I choose NSE:ALBK you can do similar analysis in other PSU Banks as well. NSE:INDIANB has actually given a follow up rally after recapitalization rally so that will be kind of different analysis rest most PSU Banks have more or less similar trend. Now considering my rational, if you see after a big fall from 2015 where NPA issues were discussed the major reason. Stock is in primary accumulation phase which is clearly evident by rising volumes, so this means the stock is due for another rally, so i think it's an ideal opportunity to buy this stock. Plus after recapitalization rally just look at the volumes in the negative to sideways consolidation. So seller weren't strong in this phase which gives another positive rational to buy this stock. I'm expecting the stock to break this TRIANGLE formation and minimum target I would expect from this would be 110. Keeping a stop loss of previous swing low which was around 57 levels so 54 seems a good level for stop loss. At this point we are getting a minimum 1:2 Risk reward. Last I want to specify the Bollinger Band Width, this help us identifying momentum, this stock historically has found momentum around 0.149 levels, this is also very important to identify that how soon will we achieve our targets. So I hope you would find this analysis helpful for your decision making (Please always trade with a stop loss) Note: Risk Only What You Can Afford to Lose
ALong
by RITESH_TMR
LT : 5th time Retest of 1800's zone !In Past 3 years from 2014, LT has tested this 1800's zone 4 times & went down everytime. Now it is back again testing the same zone, though we have wiggling room of 150 points in the upside, the resistance zone seems pretty strong. History repeats but for 5th time it will retrace after hitting the resistance zone or not ? Only LT can answer, but we have reasons to believe it will retrace down. i) Pretty Strong resistance zone & Harmonic pattern completion in the zone ii) Potential Double Top formation (daily) with RSI divergence can happen, if you check back it has happened earlier in same resistance zone 3) Though Double top formation fails, ABCD completion is little above that but still within zone Personally, I feel it will get into range mode of 400 points but I haven't checked fundamentals so I can be wrong. If you have strong fundamental reasons to believe that it will move up breaking 1900's , you can acquire very small quantity now & Go with accumulation & once that 1900's resistance crossed convincingly on weekly, you can fully invest. Happy Investing !
NSE:LT
by InsiderB
5
Channel Breakout { Very Bullish }Ujjivan Fin Serv has beautifully took support over the support line and broke the channel with a very big no. of volumes... Points which confirms Bullishness : 1. Took support on support line and based on that support, It has broken Channel... 2. Very High no. of volumes traded on the last trading day of week.. 3. Looking towards higher time frame (weekly) A very Bullish Engulfing candlestick pattern is formed.. Charts are clearly indicating that it may touch 450 zones again... Targets are 335/350/370/390/420/450+ SL: 305 Risk Reward Ratio is perfect.... Note: Do your own study before making any position... Please Like, Follow and Comment your views below...
ULong
by MrAkshatP
25
Big Players are OUT and New Big Players are getting INWith the recent news of merger of adityabirla Nuvo - ABIRLANUVO and GRASIM sentiments are hurt. The Big Players are getting replaced with this decision. Both the stock will go down technically, however, the business model are similar and hence will help the company as a whole. Particularly Second quarter results or Half yearly result of the merged company will be high. Advised to make long position after merger which can be wealth creation. Happy Trading
NSE:GRASIMLong
by DhavalJoge