The lower range that was in place for the stock from March 2020 post the lock down got taken out today (May 5). In the short term the stock can see further downside and could test 143-147 levels, if the price does not close above 186 on daily charts.
it has given a breakdown with confirmation. at 3 month low.
Retest of 120 levels possible.
200 DMA will act as a strong resitance (163 is a good stop to hold)
TCS in its exhaustive upmove and we may witness a sharp decline from 2280 levels in coming days....if this happens we can witness 2030 levels soon.....Respect Risk.....Happy Trading
TCS seen in its exhaustion final move ...final push towards 2280 can be seen with a sharp downfall towards 2030 levels......Respect risk......happy trading
WEAKNESS SEEN IN BATA INDIA. WE CAN SEE THAT BATA INDIA STOCK HAS FORMED A EVENING STAR CANDLE ON DAILY TIME-FRAME. CAN ENTER SHORT ENTRY AFTER PRICE FALL TO 1438 LEVELS.
HBI is in a Long Lasting downtrendchannel. A nice bearish engulfing built up near the upper Bound of the channel in the Weekly timeframe that maybe Signals the end of the upside leg. Take a shortposition the next week.
ALBK is bearish engulfing and with higher than usual volumes. and Fresh Short positions initiated. SELL Alahabad Bank (ALBK) at 43.90 with Stop-loss on closing basis above 46.90 and Target 1 at 40.5 and Target 2 at 35.45
HINDALCO looses 3.4% on NSE today with greater than average Volumes and fresh shorts seen on stock. Sell HINDALCO around 202.55 with Stop-loss on closing basis at 206.25 and Target of 190.10
AXISBANK lost 3.5% on NSE with 4 times its average volumes. Its trading below Ichimoku Cloud signalling further weakness in the stock.
Sell AXISBANK around 503 with Stop-loss at 311 and Target 1 of 482 and Target 2 of 478
Sell ULTRACEMCO at 4054 with Stop-loss of 4080 (Stop loss is on closing basis, Please do not exit the stock in intraday volatility), and Target of 3980
