SAIL - Breaking out from Downward Trend Line (Buy)It is been correcting for a while under the downward trendline, Yesterday it broke out from that trendline and now we shall see a rally up to the level of 51.
Target 1: 51
SL: 46.50
Sensex
CIPLA - Breaking out of FLAG PATTERN (T1 570, T2 600)After long continuation downtrend, yesterday the price action breaks through the downward trend line with hugh volume and also at the same time breaks out from a short Flag pattern. It signals a strong trend change and a bullishness in price action. The price action shall move towards the previous support at 570 levels and another strong support at psychological levels of 600.
Good time to enter in long swing trades with stop loss of 520
HDFC BANK - EXPANDING TRIANGLE (Wave E in Progress)After trending channel breakout, the price action has got into expanding triangle. It shall breaks down towards previous resistance area and confirm it with new support levels.
Target: 1205-1200
SL: 1250
ICICI Bank - WAVE 5 IN PROGRESS ON MONTHLY (Good Investment)I have observed that the price action of ICICI on monthly chart is trending up and building a clear leading diagonal. It is been moving in 5-3-5-3-5 waves pattern that is narrowing gradually with the price action. At present, It is been observed that the leading diagonal has completed its Wave 1, Wave 2, Wave 3, Wave 4 and now it is preceding towards the completion of Wave 5 that will take the price action to expected levels of 400 in months to come. It is an decent opportunity to invest with limited risk and good amount of returns on investment.
Bank of India - Firing Up (Buy)Today's rally of 10% with huge volume certainly gives a bullish signal to it. I believe this will break through the price action of 116 levels and then it may surely reach to previous resistance levels of 125-127. Good Buy With SL 104.50
Axis Bank Reaching Out to 600 LevelsThe Price action has been trending up, starting up from 372 levels and now approaching to 600-610 levels. Today's breakout from 575 confirmed uptrend. Now we will be reaching previous resistance level of 600-610.
Expected Target1: 600 Sl: 569
NIFTY at Make it or Break it Moment (Whats Next??)If Nfity breaks and close below the strong support levels of 8579 than we might see a extended downward rally till the next support levels of 8500- 8475. if it breaks that too than a trend reversal rally may be seen and a big sell off.
For now, we need to keep a close eye on today's close and check whether it closes above 8579 or below to shuffle our positions for tomorrow. Good luck
Tech Mahindra - Consolidating (What's Next??)It is been a while that the price action is been consolidating and now expecting a big breakout. I believe it will be a good move to ride on and I'm posting it now to keep a track on it.
RCOM at Reached Strong Support Levels From current price action levels, this may go up or down massively. It is a ideal time to build a position in this as it is at the minimum risk. Starts small and build up slowly.
SAIL - GAP FILLED (BUY AT GOOD RISK REWARD)The price action has just completed the previous Gap and now it may reverse from the current levels and moving up to reach out for 49 levels again. If it breaks out from current levels, then we might see 46 levels.
Take a good watch and it is ideal time to get it at minimum risk.
Tata Steel Breakout Confirmed at Weekly chart (BUY)After two weeks of correction, this week Tata Steel has broke out and closed above 378 levels and confirmed the bullish trend. Now, it will continue its uptrend and will reach to 430 levels which is the next resistance point.
Kotak Bank - Close to a breakout from Rectangular ConsolidationAfter making new lows and highs, it seems bullish and uptrending. It is expected to break out from the rectangular consolidation. Keep a close watch on it.
