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MCDOWELL_N Analysis- in verge of notable Down move ??!!!Chart patterns look prudent for the above titled opinion REASONS 1. MCDOWELL_N has been trading inside a Ascending channel pattern (taking support and resistance at perfect channel levels)( shown below Monthly chart for broad view) 2. Monthly Breakdown by witnessing the January month candle(with volume bump) with low too tested the next month 3. Inside the Ascending channel pattern, it is undergoing the downswing move in the form of descending expanding channel pattern (shown by white trendlines) 4. High and Lower high too formed ....but we need lower low in the weekly chart to confirm the upcoming strong bearish move (shown below in weekly chart ) 5. There is also a BEARISH PENNANT (shown in the above weekly chart itself) yet to breakdown!!! 6. SL level mentioned @ chart 7. Better to enter after breakdown...if entering now, take 736 as target 8. It needs to break the 730 level for the fat bearish move !!! 9. Will update target levels once it gives breakdown!!! Let's wait and watch how it moves!!! Note- Just sharing my view...not a tip nor advice!!! Regards, mmjimm
NSE:UNITDSPRShort
by mmjimm
MUTHOOTFIN Down to see 800 level ??!!!Chart patterns insist me the above titled opinion. Reasons 1. Muthoot finance has been travelling in a expanding triangle pattern from 2015. 2. Till now, its respecting the pattern by taking support and resistance at perfect levels. 3. Currently it is in downswing inside the pattern. 4. It may take take support at the Major support (GRENN LINE 800 LEVEL ) soon . In Weekly timeframe, there is BEARISH PENNANT formation , yet to give BREAKDOWN. 5. only if the Bearish Pennant gives BREAKDOWN , we can confirm the down move . I will update(Target and SL) once it gives Breakdown!!! We need to wait, as the breakdown can occur this week or 2 month later or never. Let's wait for the Market's decision!!! As of now, (on seeing the chart) its not easy for bulls to charge up. Note : Just sharing my view....not a tip nor advice!!!
NSE:MUTHOOTFIN
by mmjimm
7
KOTAKBANK in Bear's Radar ??!!!Chart patterns look impressive and paves way for the above titled opinion REASONS 1. KOTAKBANK has been trading inside ASCENDING CHANNEL(Bright red and green trendlines) taking support and resistance at perfect levels till now. 2. Currently it is going under the down swing move inside the ascending channel . 3. In daily time frame , it looks like a Bearish Pennant in process yet to break. 4. Target & SL levels as mentioned (dashed yellow horizontal lines)@ chart. 5. It may take support @ Green line( 10year old strong support from 2014 ) (channel support) soon. 6. In addition to the above mentioned points, A GAP remains UNFILLED till now. 7. Gap often gets filled .....there is a chance for that to happen... .let's stick with our targets and trail our SL!!! 8. Better to enter after a day or at least 2 hour Breakdown out of the Yellow trendline .(as shown below) Let's wait & watch how it moves!!!! Note- Just Sharing my view....not a tip nor advice!!!!
NSE:KOTAKBANKShort
by mmjimm
2