#HAPPSTMNDS: High reward for small risk1. Triangle pattern
2. False breakdown
3. Break of resistance trend line
4. High probability to reverse considering the false breakdown
5. IT sector to show reversal
6. Extra ordinary Risk to reward trade
Stockstowatch
#NBCC: Double bottom breakout1. Double bottom neckline breakout
2. Reversal pattern
3. Risk to reward 1:4+
4. False breakdown (Bullish trap)
BIOCON: from swing to positional both set up appears on it1. False breakdown to trap sellers and price is back to above support
2. Have been in downtrend from a very long time, so a good pull back can be seen for swing trade perspective
3. If hold for long term, then considering the SL below the support and target at ATH, risk to reward is very lucrative.
AXIS Bank - Intraday Trade || 21st March, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the 21st March, 2023
2. The analysis for the Intraday Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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DISCLAIMER:
𝙊𝙪𝙧 𝘼𝙣𝙖𝙡𝙮𝙨𝙞𝙨 𝙞𝙨 𝙛𝙤𝙧 𝙀𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙥𝙪𝙧𝙥𝙤𝙨𝙚𝙨 𝙤𝙣𝙡𝙮.
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Godrej ConsumerProducts- Near to Strong resistanceGodrej Consumer product is tending to break its long term triple top resistance .Also a short term cup and handle formation happened. So upward movement is sure .
Finolex Cable- Near 4 year resistance areaLeading manufacturer and preferred brand for electrical & telecommunication cables which dominates Indian industry .Now the stock has reached its 4 year resistance line .Not a high momentum seen in the chart. A consolidation happens for last 6-9 months . Q3 results are also good. Can expect a growth up to 650 within next 1-2 months and if volume supports then breaks the consolidation level to 800-900 levels within 3-6 months
AUROPHARMA: Bullish Flag BreakoutStock is has formed a bullish flag pattern on 4H chart being the support region near 455 zone & resistance area at 474 zone. Any sustained move above the level of 475 will lead the stock towards 500/520/560 in a very sharp upside rally.
Trading strategy:
Buy on cmp 473-74 with SL of 455 and look for the immediate target of 500 and later 520/560. The measured bookish target for the bullish flag is coming about to be in the region of 560.
Pennar Industries - On strong ResistanceOnly for educational purpose.Not a recommendation
Company manufactures steel products. A small cap fundamentally weak stock from metal sector. Now broken a strong resistance . if it moves up from here , can go nearer to 70 levels
Action Construction Equipment - Moving in strong resistanceOnly for educational purpose.Not a recommendation
A small cap stock with good fundamentals from Industrial manufacturing sector. Stock is now in a strong resistance range. If it moves up from here , can expect a good upward move. Have support at 333 levels.
Usha Martin - In a Resistance BandManufactures of speciality steel products . Pledge percentage is very high and promoters are increasing in QoQ. Stock is in a resistance band. Stock is nearer to 52 week high. RSI indicating price getting more stronger .But declining profit margin and pledge % of promorters are a threat to its subsequent move.
Savita Oil - Only for educational purpose.Not a recommendation
Stock is from petroleum product sector. Stock bounce back from its support level. Seems to be a movement towards lower level in short run. Expected to break support level.Majority of the shares are holded by promoters. Almost debt free company. Also delivers good profit . Can expect a good movement in long run .
CG Power -Consolidation going onOnly for educational purpose.Not a recommendation
Broken a resistance level now. Bouncing up from resistance line. If it braks 330 levels then can expect a strong move
SBI: IMPULSE UNFOLDINGStock is falling in an impulsive structure Dec'22 high of 529. The impulsive structure suggests that a larger correction is going to occur in the coming weeks. As per the current price action prices have already concluded its 4th wave at 557 and is now ready for its 5th wave. Alternatively prices are likely to unfold its 4th wave as Bearish Triangle which will only delay the downward trajectory.
Trading strategy:
Sell on cmp add on rise, keeping SL of 557 look for the target of 500/480 .
NIFTY: CORRECTION AHEADAfter a five wave impulse down nifty is rising in a corrective structure on the upside. The corrective nature of the price action suggests that near term trend for the nifty50 is down and prices are likely to fall towards 17000 in the coming weeks. On the upside the key resistance zone is 18350 while on the downside key supports levels are 17650/17350/17000
VSSL Breakout or Selling ..vssl near weekly resistance zone. Last QoQ results was good. keep eye....
NAVA Ltd - Consolidation going on for last one yearOnly for educational purpose.Not a recommendation . No big movement is expecting.
Stock from power sector . Fundamentals are also moderate with fair momentum. Immediete resistance @255 and support @ 227 . No high movement expected .10-20 points can be moved from here in a 6 month run.
CUB Chart looks horrible CUB bank breakdown with huge volume. Stock posted bad results. Avoiding buying now..
Lindeindia Breakout Soon Stock Lindeindia Good PriceAction seen. A breakout soon stock. Keep in your Watch list..
Indraprasth Gas - On the verge of BreakoutFundamentally good India based gas distribution company. On the verge of a breakout. Moving through a strong resistannce band. 45% promoter holding with very low debt.Stake of FIIs are also very good. Maintaing good results all the years. Good movement can be expected in short and long run
KPIT Technologies - In a strong resistance zoneAn india based global technology company focussed on automobile engineering and mobility solutions. Only for educational purpose.Not a recommendation . Stock under strong resistance zone. Respected the resistance level 2-3 times .So if it bounce over from here , can expect a good flow to upside.
Ei hotel WeeklyEIH LTD stock posted good results in this quarter. In technical stock moving in a channel. Also downside support visible.
Hdfc Bank Intraday Hdfc bank Intraday Trading Setup. Stock facing continuous resistance. Downside Blue TL Support.
