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Macdcross

IOC Multiyear Breakout!Indian Oil Corp. gave a breakout on Monthly chart and may head towards 140-150 levels in some weeks. Reasons to take trade --------------------------- 1. Recent results beat estimates and net profit rose 104% 2. Breakout in trendline with huge volume on monthly chart. 3. MACD crossed Signal showing a trend reversal. 4. Crossed 20 MA & 200 MA on Monthly charts and is just below 100 MA My opinion is we should accumulate in the stock till it crosses 100 MA on 1M chart and then buy with full potential by maintaining a stoploss according to the risk taking ability.
NSE:IOCLong
by Anwar_Khan
Muthoot Finance Weekly Chart breakoutReasons for taking trade ------------------------------ 1. Breakout with volume on Weekly charts. 2. MACD showing bullish signal on Weekly time frame. 3. Company came out with very good net profit in results. 4. Price crossed over 20MA, 100MA & 200MA on daily charts. My Opinion -------------- Though MACD is showing a bullish divergence on Weekly charts, On daily charts MACD is heading for a bearish convergence and that may result in a retesting of the breakout. I would look for a retest to buy the shares in ideal conditions so that my stoploss will be smaller and target will be bigger. Also a tested breakout is a confirmation of the breakout. Conclusion ------------- I will keep this stock in my watchlist and will buy it if the breakout remains strong. ________NO INTACT TARGET. I WILL KEEP THIS STOCK IN MY HOLDINGS TILL I SEE A TREND REVERSAL_________
NSE:MUTHOOTFINLong
by Anwar_Khan
The RSI is into neutral zone taking support at the bull oversoldThe bank index witnessed pullback and buying the in the last two sessions. The prices are now just kissing a resistance level. 31800 levels may pose as a strong resistance for bank nifty, above which 32170, 32620 & 33500 seems possible. However any failure to hold 30900 levels will push banknifty down to 30000 zones below which banknifty may find support at 29500. The RSI is into neutral zone taking support at the bullish oversold levels, MACD has moved below zero line. You can notice that the levels are very wide, as budget session may result into wild swings in the coming week.
NSE:BANKNIFTY
by BharatJhunjhunwala
Taking support a very important level. Price action positiveThe stock has made healthy retracement and have now it’s resting on the Kumo. Today’s price action was quite convincing to re-establish the buyers into the stock. The RSI is taking support on the bullish extreme levels with MACD curling up indicating momentum is picking up. If ONCG gets overall support from Nifty, the stock is expected to pull up strongly from these levels the short term targets may be set at 149-154 zones. 125 levels are important support levels for the stock.
NSE:ONGCLong
by BharatJhunjhunwala