VRLLOG, DARVAS BOX OF 218 DAYS CONSOLIDATION (CHART# 363)VRLLOG has been trading in range forming DARVAS box and today has given good volume & bullish candle. If this break 186 and able to sustain the level, then can be good for positional pick with potential to go up to 220 which is also coming as target from both resistance & DARVAS box range.
Intraday can also be taken in this if give breakout of 186.2 tomorrow.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
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Piyush Gupta
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IRCTC, READY TO FIRE ALL CYLINDER POST 1415 (CHART# 360)IRCTC has seen 150+ days of consolidation in close range and has given breakout 4 session back and now staying on top of trend line.
Above 1415, it can see up move to 1450, 1500 & 1550. This stock when moves, it does crazy thing so wait for level to break patiently and get ready to enter in this highly rewarding stock.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
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Piyush Gupta
IBULHSGFIN, CRAZY STOCK READY FOR BREAKOUT (CHART# 357)Those who have been trading for sometime know how crazy IBULHSGFIN stock it. When it give breakout, it moves nothing less than 4-6% and sometime even more.
Now this is again very near to breakout level of 177. Once this is successful to move out from here, can reach 186.5 & 192+ levels.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
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HDFCBANK, ATH & PREVIOUS RESISTANCE ZONE BROKEN (CHART# 353)Banking stock have been in great momentum for last one week & HDFCBANK being the heavyweight of them all have broken ATH.
It is trading in upward channel which is its long term behavior. Above 1311 it can continue its momentum but traders to be cautious about resistance from upward channel band.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
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ACC, DOES THIS CEMENT STOCK HAS STEAM LEFT? (CHART# 352)ACC has formed beautiful Ascending triangle pattern and has closed near to breakout level.
1700 is another physiological level once crossed can fuel some movement.
Third factor for movement is long term resistance zone around 1706-1709 which was respected multiple times between Apr to Sept 19 time period.
Breakout above 1707-1709 can show some good momentum by this stock.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
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GODREJPROP DARVIS BOX -> FIBO RETRACEMENT -> UPMOVE (CHART# 349)GODREJPROP gave massive move last week which we caught as it was on our radar. Now post that move, it has retraced and respected Fibo 61.8% level.
If this continue it upmove and crosses 1063 level then it can move further for FIbonacci extension levels. Must have on your radar next week.
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Piyush Gupta
NESTLEIND, READY TO GIVE MOVE IN COMING DAYS (CHART# 348)NESTLEIND has given breakout from Flag pattern formed over 1.5 years. Consolidation itself has for 4 months. It gave breakout on Monday and took a pause today (Tuesday) and formed inside candle which is again good sign.
Post 17310, it can give good move. Must have on your watchlist.
Daily view
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VOLTAS, ASCENDING TRINAGLE BREAKOUT (CHART# 339)VOLTAS has given ascending triangle breakout on Friday. Above 703, it can move further up and below are some key resistance areas to watch out.
1. Trend line from Feb (blue color) - 709-10
2. Year long resistance zone (yellow color) - 720-26
If VOLTAS manages to cross both these hurdles then it can move to new high. Friday's volume was also very good which was news based due to change in policy on refrigerant import.
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Piyush Gupta
PIIND, VOLUME SUPPORT BREAKOUT (CHART# 337)PIIND has given breakout from small consolidation zone and looks very good above 2105.
Other stocks on watchlist
OFSS
SONATSOFTW
VOLTAS
DIVISLAB
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
SONATSOFTW, EXCELLENT POSITIONAL & INTRADAY (CHART# 336)SONATSOFTW is testing its important resistance zone 365-366 which is 2 year long zone. SONATSOFTW looks very promising above this zone for both Intraday & Positional.
Volume is also good on this stock and IT sector is currently in momentum.
Keep on watch along with OFSS which was posted 2 days back and is very close to trigger level.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
ITC, MORE PAIN IN COMING DAYS? (CHART# 334)ITC after consolidating in a range for 20 days has broken down today. Also this stock has fallen so much from its glory days but price action indicates more bear grip if this cross below 164.
There is a possibility that it will retrace back to zone if market is bullish and it won't trigger but in case market is bearish, it will continue to scale new low.
Ideas published yesterday JSWENERGY & BHARTIARTL gave 9.5% & 4% move respectively.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
OFSS, Positional Pick with 10-15% potential (CHART# 333)OFSS is near its long term resistance zone of 3200-3300.
It has given in intraday today to buy at 3232 and made intraday high of 3301.
If this manages to close above 3310-20, then it can scale up to 3700 & 3900 level.
Ideas published yesterday JSWENERGY & BHARTIARTL gave 9.5% & 4% move respectively.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
SRTRANSFIN, INV HEAD & SHOULDER WITH CUP & HANDLE (CHART# 332)SRTRANSFIN is forming inverted head & shoulder along with cup & handle patterns. Both of them are bullish patterns.
SRTRANSFIN has resistance at 676, once crossed it can give good move.
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Piyush Gupta
INDUSINDBK, ANOTHER BIG MOVE COMING? (CHART# 331)INDUSINDBK has formed flag pattern after bullish move from breakout of cup & handle pattern.
It also have trend line intersecting at current price.
Above 630.5, it can show another set of move in coming days or tomorrow.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
JSWENERGY, STRONG BULLISH BREAKOUT (CHART# 329)Long above 61.5
Patterns:-
1. JSWENERGY has given breakout from its long term resistance zone around 60
2. It has also given breakout from mid term trend line (blue)
3. It has formed cup & handle pattern and given breakout from it (blue)
4. It has horizontal resistance at 61.5, above which it can move good in coming days.
This is good for both positional and intraday if manage to sustain above level.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators.
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Piyush Gupta
AUROPHARMA, BEHAVIOUR OF SUPPORT & RESISTANCE (CHART# 328)Support & Resistance zone are inter-changeable. Levels which acted as support can act as resistance in future and vice versa.
Same is very much highlighted from this AUROPHARMA chart where 850-855 acted as support multiple times and now acting as resistance multiple times.
Above 855, AUROPHARMA can move up. Keep on your watchlist.
Check my previous charts to understand few basic things that we have to see for price action based analysis. Happy learning & earning.
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Piyush Gupta