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Can we see more fall in NIFTY ?Hey Hardworking traders! Here's a quick update on the Nifty 50 index's recent journey and its future outlook- Nifty highlights: >>So, It has been a roller coaster ride for NIFTY, It has witnessed multiple obstacles, Be it after Covid affects be it Russia-Ukrain war, High inflation and interest rate hike. >>These macro incidents combined together resulted Index to stay sideways. But the game changed in June, when it broke out and nearly touched 20,000. Current Market updates/My views >>Right now It seems to be in a correction mode and hanging around 19300 level. "Looking at the chart, we can draw a line connecting the highest points, showing the resistance at 18800. Also, using the pivot point indicator, we identify a support level at 18800. >> Do not get worried here, Think like this way, Every time an Index or a stock gives breakout then it suppose to retrace all the way to its Breakout level, which makes its breakout more prominent. >>Though the numbers are dropping, does not mean the celebration is over. Track closely how it behaves near the new support area and plane your Trades accordingly. If it retraces to Breakout level I am going to aggregate more. Keep in mind, Technical helps but it is just one part of the equation. So, stay updated with the world news, Big Financial decisions and market sentiments to understand the complete picture. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Note: This is for informational purposes only. Do your own research before investing.
NSE:NIFTY
by BullishLine
Remarkable Breakout in MPS LTD.Good morning Guys! Here is a potential trade set up for next week. Providing you some pointers for MPS LTD. >>MPS Ltd experienced a beautiful breakout from a well-defined rectangle pattern last week >> As we see in a daily timeframe, it was religiously following a rectangular pattern since more than 1 year, it is more like a broadening rectangular pattern. >> After witnessing breakout it has retraced back to its breakout zone and again bounced back as bulls got activated, it seems lot of juice has still left. Sales and profits are also looking promising. Now question comes, How to trade in this zone as it has already shown significant moves ? So, Checks these pointers out to understand it. >>Either we can take entry while it retraces back to its BZ level or it gives a good upward move after little accumulation. >>IF it comes back all the way to 1460 that would be our trigger point. >>Now in second scenario if it does not give a pull back then we will wait for little consolidation and if we find a sort of engulfing type green candle then also we can think of taking entry. STOP-LOSS. Now stop loss would be deferent in both the scenarios. First scenario: Buying at Breakout Zone- we can go with 5% of stop loss. Second scenario: Buying higher level- In this case we will have to with higher stop loss, that would be 12%. Targets totally depend on your patience level. If you find this analysis helpful, please consider boosting 🚀 it. If you have some suggestions and any question please post in comment section. Please note- I am not SEBI registered, so do your research before investing.
NSE:MPSLTD
by BullishLine
"Beautiful Breakout in ESAB India: Unlocking Potential.Welcome back again. Today we will discuss about ESAB INDIA. >>Esab India was consolidating in rectangle channel pattern for 20 months. two weeks back it has given a breakout and retraced till its BZ. >>Again last week it has took support from crucial pivot point and bounced back with a good healthy green candle along with good momentum. >>Today this stock seems to continuing its bullish trend while overall market is being bearish. We can see from chart its consolidation phase was fairly long, so, we can anticipate a big run up from here. >>Now talking about its fundamentals, ESAB India Ltd is a leading supplier of welding and cutting products in India with the market cap of 7,849cr. Take a look Some financial pointers of this stock- *The company is debt-free. *ROCE (Return on Capital Employed) is at an all-time high of 71%. *Earnings show strong potential for future growth. *The PE (Price-to-Earnings) ratio is currently at 51. *Historically, the PE ratio has been at a higher level (66) for the past two years. *Given the past PE levels, the current PE of 51 appears reasonable and undervalued. *Considering these factors, it's a potential candidate for long-term investment. If you do not have a long vision in this stock then do utilize your Risk-Reward Ratio based on Your Risk Appetite. Level of 4500 stop loss makes lot of sense in this one. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Please note I am not SEBI registered. Do your own research before investing.
NSE:ESABINDIA
by BullishLine
EVERESTIND's Recent Breakout - A Dive into the Technical📈 EVERESTIND's Breakout Analysis 📉 Hello, fellow traders! Today, we're diving deep into EVERESTIND's breakout that occurred on 7th August 2023, shortly after the company announced impressive financial results. The stock has shown some intriguing patterns, and I'm here to break it all down for you, especially if you're new to the world of trading. Let's get started! 🔍 Key Observations EVERESTIND announced stellar financial results, leading to a breakout on 7th August 2023, accompanied by impressive volume. Before this breakout, the stock maintained a robust base hurdle, with previous swing lows remaining unbroken. High volume on bullish candles indicates potential accumulation . Despite the price decrease over the past two days, the last candle is an inside candle , with its mother candle being a large bearish one. However, the selling volume is minimal. The price seems to be retesting the breakout, possibly due to RSI bearish divergence. 📉 Trading Strategy First Entry: Buy if the high of the inside candle is broken, around 1030. Stop Loss for First Entry: Below the inside candle. Second Entry: On a retest of the breakout, around the 1000 level. Stop Loss for Second Entry: Below the plotted support zone on the chart, which was previously a resistance. 📚 Let's Learn Some Technical Terms! 1. Inside Candle: A candlestick pattern where the current candle's high and low are within the previous candle's high and low. 2. RSI Bearish Divergence: When the price makes a new high, but the RSI fails to make a new high, indicating potential weakness in the trend. 3. Accumulation: A phase where investors buy or "accumulate" a stock in anticipation of a future price increase. 🚫 Disclaimer This analysis is for educational purposes only. I am not a SEBI registered analyst. Always do your research before making any trading decisions. "In trading and in life, patience is not just a virtue, it's the key." 🔗 Connect with Me! For more insights and analyses, follow my TradingView profile: in.tradingview.com Thank you for your support and feedback! If you found this analysis helpful, please like, comment, and follow. Happy trading!
NSE:EVERESTINDLong
by AfnanTAjuddin
2
Banknifty Banknifty . ( Not for "Amature traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 44530 / 45120 target: 45030 - 45250 - 45760 stoploss: 44500 / 44980 . . For " Short" entry: 44480 target: 44250, 44030 stoploss: 44580 . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " Simple, Focus on Consistency " 💹. Refer our old ideas for accuracy rate🧑‍💻. Valuable comments are welcomed-✌️ . Refer old ideas attached below.
NSE:BANKNIFTY
by TheNuraTrading
ELECTCAST : Electrosteel Castings LtdElectrosteel Castings Ltd CMP : 60.60 1) Stock has broken out above crucial resistance zone and multi year highs 2) Price is consolidating since the last two months between the range of 55 to 65 3) A move above 65 - should generate strong momentum in share prices towards 95 and 105 levels 4) Overall long term structure is very pullish and stock should find support on pull-back between 59 to 61 zone 5) Weakness would extend its phase only below 53 Interesting Set-Up
NSE:ELECTCASTLong
by MehtaEquities
1
Great Swing Opportunity in HFCL!Good evening All! So, HFCL Ltd has been stuck in a beautiful symmetrical tringle pattern for about 2 years now. As we can see from chart it moves up retest it resistance, gets rejection from the trend line and retrace back to support. It's like a cycle that keeps repeating. Right now, it's again retraced back to the support level and is trading above it. Don't you think this could be a great opportunity to buy and then sell when it tests the resistance again? It seems like we could take advantage of this special pattern! And that makes our trade little easier and less riskier. Today, HFCL Ltd touched its support and showed a powerful upward move. I suggest we consider buying at this level and aim to sell at 82 with a stop loss at 59. Our target should be at least 82. Let's keep an eye on the stock and make the most of this opportunity. What do you think guys, do let me know. And if you found this helpful do consider Boosting this Analysis 🚀 so, it can reach out to more people.
NSE:HFCLLong
by BullishLine
12
TIMETECHNO - A good buying opportunityNSE:TIMETECHNO Time Technoplast Limited is engaged in manufacturing plastics products. TTM EPS: 8.17 TTM PE: 8.54 Sector PE: 13.70 Book Value Per Share: 86.07 P/B: 0.82 Face Value: 1 Mkt Cap (Rs. Cr): 1,577 Dividend Yield: 1.00 Some Positives: Company with high TTM EPS Growth Current price is less than the intrinsic value Pledged promoter holdings is insignificant Growth in Net Profit with increasing Profit Margin (QoQ) Company with Low Debt Increasing Revenue every quarter for the past 2 quarters Increasing profits every quarter for the past 2 quarters Book Value per share Improving for last 2 years Companies with rising net profit margins - quarterly as well as TTM basis Some Negatives: MFs decreased their shareholding last quarter Inefficient use of capital to generate profits - RoCE declining in the last 2 years Inefficient use of shareholder funds - ROE declining in the last 2 years Inefficient use of assets to generate profits - ROA declining in the last 2 years Declining Net Cash Flow : Companies not able to generate net cash Annual net profit declining for last 2 years My Opinion: My opinion is clearly visible on chart :) NOT A RECOMMENDATION. JUST FOR EDUCATION PURPOSE. Thanks
NSE:TIMETECHNOLong
by babutaaniket
6
ITC - A viewpoint NSE:ITC ITC Limited is a holding company engaged in the marketing of fast moving consumer goods (FMGC). The Company operates through four segments: FMCG; Hotels; Paperboards, Paper and Packaging; and Agri Business. TTM EPS: 12.01 TTM PE: 21.40 Sector PE: 23.75 Book Value Per Share: 47.87 P/B: 5.37 Face Value: 1 Mkt Cap (Rs. Cr.): 316,769 Dividend Yield: 4.18 Some Positives: Company with Low Debt Increasing Revenue every quarter for the past 2 quarters Increasing profits every quarter for the past 2 quarters Near 52 Week High Strong Momentum: Price above short, medium and long term moving averages Some Negatives: Inefficient use of capital to generate profits - RoCE declining in the last 2 years Declining Net Cash Flow : Companies not able to generate net cash My Opinion: When the stock is in any uptrend, it forms base in stages. One should wait for a new base to form. 265 is an important resistance. Can ITC cross 310 and go even higher? Absolutely yes. When? You never know. NOT A RECOMMENDATION. ONLY FOR EDUCATION PURPOSE. Thanks.
NSE:ITC
by babutaaniket
5