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.
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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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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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THYROCARE, ALMOST 5% MOVE IN 10 MINUTES (CHART# 346)THYROCARE was one of the LIVE trade given at 9:42 today (26-Oct 20) when it was trading at 1104 to buy above 1111.
Within minutes it triggered and made intraday high of 1165 (54 points from entry). My target was 1150 with 1093 as stop loss.
We also earned good profit (3.5%) in JUSTDIAL which was again shared well before breakout & move.
Chart when this recommendation was shared with group
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Piyush Gupta
NIFTY, INV HEAD & SHOULDER WITH MULTIPLE SUPPORT TL (CHART# 344)NIFTY is forming Inverted Head & Shoulder pattern in 30 min TF with neckline around 12020-30 region.
It also have mid term support Trend Line (yellow) & long term support Trend Line (green).
11800-820 have been strong support base for NIFTY even in past.
NIFTY seems more probable to break and move higher if it break neckline at 12030 and can try to reach 12220-12290 resistance zone.
As NIFTY is forming Inv. Head & Shoulder, many stocks are forming similar pattern and near to their breakout zone. Stay tuned for more charts & analysis.
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Piyush Gupta
KOTAKBANK, MUST HAVE BANKING STOCK ON PORTFOLIO (CHART# 343)KOTAKBANK is testing 1400-1425 zone for 4th time. Banking sector is currently in trend and KOTAKBANK is one of the sound fundamental stock as well.
Once it cross this resistance zone, it can see 1530-1550 in coming days/week.
This zone is respected since July' 18 multiple times as highlighted by flags (red & green color). Must have on your watchlist for coming days.
Daily view of same chart
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FSL, SERIES OF FLAG BREAKOUT BASED MOVE (CHART# 342)FSL has moved forming flags for continuous fifth time. This is very similar to one of the chart I posted couple of week back. Can you name that?
Current day candle has given breakout from 5th flag pattern in the series and as per its past movement, it should continue the trend.
Above 73.5 looks good (safe abv 75.1)
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Piyush Gupta
GODREJPROP, REASON BEHIND 12% BUMPER CATCH TODAY (CHART# 341)GODREJPROP was shared with student group to buy above 945 and it triggered soon after recommendation and gave massive 12% move. This was also recommended by Ketan (one of our PRO member) for swing last week.
GODREJPROP was trading in a zone for past few months and breakout on either side was expected. Today it gave breakout in first 30 mins and never stopped scaling new highs.
Chart which I posted yesterday.
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Piyush Gupta
HINDZINC, MAJOR MOVE POST 225.5 (CHART# 340)As explained on chart, HINDZINC is showing intersection of 3 TL/Patterns and move above 225.5 can be good. If sustains & close above 226-27 then can be taken as positional as well.
Blue trend line running since Apr'18
Pink horizontal support/resistance line running since May'17
Flag pattern as highlighted in yellow.
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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
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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.
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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.
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Piyush Gupta
BHARTIARTL, MULTI PATTERN CONFLUENCE FOR SHORT TRADE (CHART# 330BHARTIARTL has highlighted on chart has given us 3 signals for weakness.
Below 411 is can go further down till 401-402 which is its important support from last 2-3 years.
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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.
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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.
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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