Here is my 2 cents on HDFC LIFE as why I am very bullish on the stock
1.Inverse Head and Shoulders pattern on daily and weekly time frame.
2.Decending Triangular pattern on upside, signifying continuation of major trend i.e., uptrend.
3.100 day Moving Average support.
4.3rd time taking support on the trend line.
5.Stock taking support 3rd time at 0.236 Fibonacci...
HindPetro has given a perfect bounce from its support and is now poised to cover higher grounds.
On Balance Volume is steadily rising indicating investors increasing confidence
Can go Positionally Long with the first target of 208
BUY IN DIPS NOW 1556.35 SL 1410 TARGET 1750 1800
Over the last 5 years, net income has grown at a yearly rate of 28.15%, vs industry avg of 21.24%
Stock has been generating better return on equity than bank FD
Good time to consider, as stock is not in overbought zone
In last 3 months, foreign institutional holding of the company has increased by 1.03%
Hidden Bullish Divergence observed in daily charts & stock is trading near support levels of 1385 levels. It is having strong support near 1338.
Stock may move downwards as markets are correcting, eventually stock is likely to trend upwards to 1425+ levels.
Positional Buy ACC @CMP of 1385
Target - 1425, 1450, SL-1338
TCS can be sold on closed below 2240 levels. TCS has broken upward trend line and trading below 20SMA in 30 min charts.
It has also formed lower high pattern which indicates continuation of down trend.
Conservative traders can wait for Sell confirmation below 2215 levels
Reliance continuous run-up with extended(3.618) 3rd wave to end near 1997.
Volumes are dropping suggesting it may not extend beyond 2000 levels.
4th Wave should start from there which could end between 1625-1570 zones.
It has also formed inverse head and shoulders pattern which post breakout target 2333.
All details marked in chart. Stock may not follow exact...
HDFCBANK retraced more than 61.8% from top. Leading Diagonal wave is 5 wave pattern which is formed in wave 1 of impulse or wave A of Zigzag.
HDFCBANK to start fall post close below 1093 on hourly chart. SL can be 1120-30.
Potential wave targets are in coming days
Wave A 1046/1020
Wave B 1075/1065
Wave C 1002/960
-the stock managed to break-out of the pattern today by taking out crucial resistance level in the market
-on lower time frames stock managed to break above the level of 440
-after lot of failed attempts it managed to surpass that level today
-the stock last traded price(ltp) is at 444
-the stock is now geared up for a big rally on the upside
Positional mid to long term 1100-1200 with final target 1520 if wave structure remains ideal.
Depending on wave 4 movement wave 5 target will vary.
Stop loss can be below 990. Follow and like my smart-work :)
Nothing is for sure in the world of stock market thing can go opposite any time. Ask your financial advisor before investing.
After the recent fall Tech Mahindra has been consolidating. Daily chart suggests the formation of a bearish flag, with base around 472 levels. A break below this level can push the prices down to the interim demand zone marked in the chart.
The first version of this analysis appeared in the educational blog of Center for Research in Asset Markets and...