Is the Volatility over in Nifty and is it ready for 24000 ??Nifty was moving in a parallel channel for almost 6 months, last week it tested the bottom channel as well it tested and broke out on the upper level channel on a daily chart.
In 30 mins chart Nifty has created a 1200 points Flag pattern and has also given a strong break out as well!! Accorinding to the flag pattern Nifty can hit 24K level soon !
Rally
MTARTech-A beautiful channel consolidation!MTARTech is one of the leading stock from defence sector. However, stock is underperforming and is currently in a channel consolidation.
Recent news of arms exports to Russia has triggered a rally in defence stocks like Datapatterns, BEL, BDL, etc.
Mtar is bouncing from lower end of channel and we can expect big rally in this stock too. A good stock for investment purposes as well.
Disclaimer:This is not a recommendation and this is my personal analysis and opinion about stock.
IOC NEAR CONSOLIDATION BREAK OUT IOC
Rally - Base - Rally price action
1.First Rally, then forming Base (Consolidation) & then again expected Rally after break out of the line of least resistance.
2. Close above previous day High(172.6)
3. Close above last week High(173.7)
4. High increase in 1 month (+5.4%)
5. High increase in 3 month (+20.5%)
6. High increase in 6 month (+103.4%)
7. High increase in 12 month (+117.1%)
8. Promoter holding 51.51%
9. Pledged percentage 0.00 %
10. Change in Prom Hold 0.00%
11. FII holding 8.49 %
12. Chg in FII Hold -0.35 %
13. DII holding 10.2 %
14. Chg in DII Hold 0.33 %
15. Stock PE 5.33
16. Industry PE 7.89
17. ROCE 8.09 %
18. ROE 7.17 %
For Educational Purpose Only
Pharma Sector takes LEADERSHIP!Attached: Nifty Pharma Daily Chart as of 26th June 2023
- Today Price has triggered another Breakout closing above the Green Trendline and thus activating a Fresh Up Leg for the Pharma Sector and Stocks alike
- This is the 2nd Breakout Trigger (marked by arrow) and the 1st Breakout Trigger was the activation of the Cup & Handle Pattern for which Price is yet to meet its Pending Upside Target
- Pharma Index was also the TOP Sector Gainer today
- Technical Indicators such as RSI, MACD also confirm the same presence of a Strong Up Trend
Therefore, if you want to play LONGs in this Market then you must shift all your Focus on Pharma Stocks from here on, I have already shared one of them NSE:PGHH in my related ideas
Amar Raja Battries bullish divergence.self explanatory.bullish divergence seen on chart. trend reversal can be seen.
GLS moving with a strong upwards trendPrevious Close: ₹631.05
Buy at: ₹633
1st Target Price: ₹638
2nd Target Price: ₹647
3rd Target Price: 657
Stop-Loss: ₹ 624
Duration: 1 - 2 weeks
Not guaranteed as the stock market is subjected to market risks. These calls are based on my own research and are meant for paper trading. Please do your own research if you are interested in investing or trading in the stock market.
Nifty Hourly Charts indicate one dipThe most recent bounce is not an impulsive move so maybe it is an x wave and that means one more a-b-c down can follow and waves a and b are already done. Next week should see wave c complete into the year-end. but will it make new lows? The Nifty Elliott wave update with weekly charts and wave counts is already online on indiacharts.com, enjoy my Truth about the Markets
Welspun- BO above 5 yr Resistance, Can Rally 60%NSE:WELSPUNIND
Multi-Year Breakout above 5 Year Resistance of 89
Huge Gap in Weekly Charts filled after 5 years and 3rd Breakout Attempt
Short Term Tgt : 103 - 113 - 121
Time Frame : 1- 3 Months
Long Term Tgt : 160
Time Frame : 3 - 12 Months
R:R - 1:5
SL : 76
Golden Cross Over & +ve RSI Divergence
COFORGE TRADE SETUP FOR TOMORROWAs you can see in the chart after a strong bullish now stock is in the correction mode,
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So for tomorrow, if COFORGE go above 5524, then you can go long on this trade.
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If Stock goes below 5404, then we can short this trade.
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What's your view on this comment below in the box.
First Source Solution : A hidden gemFundamental Aspect:
First Source Solution is an IT company and has a decent market cap. The stock has been witnessing a huge volume since June. Just compare the size of red vol candles vs the green vol candles. FII's increased their shareholding in June quarter and promoter pledging is zero.
The debt to equity ratio is low. Also, the result season is around the corner and going by the previous quarters sales record the company is expected to do well.
Technical Aspect:
The stock is in momentum and after a sharp upside rally made a 28% correction from the high. It now seems to be ready for the next leg. Hovering at a crucial point, a sustainable break above this level would lead the stock towards next rally.
It is a positional bet.
Like I always say, read out the description to learn and not just to follow it blindly. Just look at the pointers mentioned while analysing this stock and start thinking on similar terms:) Trust me, this is the best way to learn.
The plan is to make everybody independent and not dependent:)
ANGEL BROKING LONG OPPORTUNITYAngel Broking is a stock which has rallied from its IPO like crazy. Insiders activity is suspected in the rally. No signs of the stock correct due to it's firm financials and fundamentals and due to surge in volumes, I think a rally is here. Potential upside is seen. If the stock doesn't reach the target till the line I inserted exit it.
Supports to be made stop loss and exit price to be target. As you can see the stock is already rallying so it's a really good moment to make fresh long positions as there may be more upside after 1400 but the situation currently makes me fell cautious so I showed 1400 the exit point but it's upon you o hold if it reached 1400. This is a great stock but more great because of retail investor's interest and insider's activity. SO DONT HESISTATE , THIS IS A VERY GOOD OPPORTUNITY.
ALKYL AMINES... MY NEXT BET.... 30% RALLY LIKELY Following the successful trade in Navin fluorine, I'm going all-in for Alkyl amines.
A beautiful symmetrical triangle is being formed in the chart of Alkyl amines. The script is trading near its support trendline. Watch for upwards breakout.
I'm entering now and will add on dips. Stop-loss 4000.
Targets 4700 and 5200...
For risk-averse traders entry above 4300 after a breakout will be a safe strategy.
Happy trading!
NIFTY making a good patternAfter good rally upside nifty consolidated for two days now and making a pole and flag pattern which is same as of BANK NIFTY both were in a good move and the good rally continue after this structure is broken. Please comment down below what do you think about the next move of these index.