ABC: AB Capital : Breakout ReadySymmetrical triangle (Pennant) breakout happens. Let it stay above the next immediate resistance 115. Then go long.
Buy above 115
Target-1 120, Target-2: 128
SL: 109
Stocktowatchfor
HCL Tech: Good sign after consolidationLogic : W pattern neckline. Consolidation after a steep uptrend, with a bullish engulfing daily candle.
Trade : Buy above 1112, SL: 1090. T: 1125/1140
Clean Science: Stock at major support zoneLogic : It's in the support line of H&S neck, a long term demand zone.
Trade : This is not for intraday. Keep it in watchlist please.
If price breaks below the 1440 level, sell with SL: 1490.
If prices breaks above 1530, buy with SL: 1490.
Granules India: A descending triangle formation is formedA nice descending triangle formation is created in NSE:GRANULES .
Potentially price can break out or break down in any direction.
Trade: Buy above 365, SL: 355, T: 372/381
Sell below 355, SL: 360, T: 348/340
GNFC: Indication of Trend Reversal
There is a steep downtrend.
After that a bullish engulfing pattern is formed exactly at Support level
The support is actually a long term support. Previously every time price reaches there get a nice support and starts little consolidation.
This time also it presents a reversal formation there.
Trade: Buy above 580, SL: 560, T: 610
Sell below 550, SL: 575, T: 520
Graphite India: Descending Triangle Breakout readyA Very Nice Falling Wedge / Descending Triangle pattern breakout ready. See the 350 level, multiple time bottom over long time.
Trade: Buy above 365, Target: 390 / 415. SL: 350.
Hi Tech Pipes LtdHigh Tech Pipes Ltd has some of the following features:
A rounding bottom formation and breakout
A rectangular consolidation over time and price is staying above it
Trade: Positional Buy at CMP with a SL of 625, Target: 685. (CMP: 657)
Jindal Photo: Rounding Bottom BreakoutNSE:JINDALPHOT has a nice, copy-book rounding bottom formation.
It has the following properties in the chart:
A perfect Rounding Bottom formation.
A perfect ascending triangle formation.
Buy above 420 with a SL to the neckline of the rounding bottom (i.e. 400). Below that the SL can be revised to 394.
Jay Bharat Maruti Ltd: Bullish Breakout ReadyNSE:JAYBARMARU is showing a bullish breakout with the following traits:
A perfect Cup&Handle Patten breakout above 200.
Prior to that an inverted H&S pattern is created.
Buy at 200 with a SL of 194/195.
NHPC: Buy on pullback: Monthly chart saucer formationNSE:NHPC has an interesting formation in the monthly chart, a perfect rounding bottom / saucer formation. It can be flying saucer as well :)
Some features noticed in monthly chart:
A 12 years long Saucer formation breakout. ATH attained.
There is a clear ascending triangle, basically a nice uptrend channel (shows as cyan colored channel in the chart).
Of course we shall not jump into buying. Shall wait for a pullback on the green horizontal support like (around 41) or even better around the dotted cyan line (of the channel) around 37.
Buy around 40 (or more retracement upto 37) with a SL of 33 for a target of 50+ (upto a year holding).
IDFC First Bank: Buy on dips for long termIn the NSE:IDFCFIRSTB shares, we can see the Elliot Wave pans out nicely.
See the outer wave marked in green 1-2-3. We are in the motive/impulsive 3rd wave.
Now in the motive 2nd wave, there are again 5 subwaves formation. We are at 3rd motive inner wave. So it is 3-3 wave overall.
Hence a retesting of the long term support (which is also a neckline of a rounding bottom) around 50-52 is welcome.
We can accumulate around 50-52 for a target of 65-70 (a few months timeframe) with a SL of 46.
Gravita: Breakout ReadyThis relatively less known stock NSE:GRAVITA is showing some pretty interesting breakout ready pattern.
Reasons (Many ways you can view it)
A head-and-shoulder pattern formation near-to-breakout
Rounding Bottom formation completes since Feb'2022.
Closed above a long-term resistance line around 380.
Buy above 388, SL: 379.
Borosil: Nice bullish formationA very interesting chart formation. Let me explain:
There is an outer rounding bottom at the outside (since Jan 2022), followed by rectangle a consolidation.
Inside the outer rounding bottom there is another rounding bottom, followed by a rectangle consolidation.
After the inner rounding bottom - just note the big green candle. Who knows the same will happen today or tomorrow also :)
Concern : Low Volume
Try above 450 with a SL of 425.
The curious case of MacroTech Developers (Lodha) Chart pattenVery Interesting. Sort of (heterodox) Elliot Wave (sic).
Just plot in in Daily chart. What you see:
4 triangles - in the order of smaller highest medium smaller height (noted in the green flags). Lets call it our Elliot Waves 12345-ABC. (The green flags are motive peaks and reds are corrective trough.
After that there is a rounding bottom - shown as blue semi-circle.
The SAME PATTERN then again repeats --- 4 triangles with same proportional height, followed by the rounding bottom.
If Price Action is correct - then it's a new wave which will replicate again the same pattern!
Fib levels are shown.
Afte
Buy recommendation with SL of 970 for the potential upside of 1080 / 1120.
Religare Ltd: Potential Breakout CandidateCup & Handle formation is ongoing.
Can be a potential breakout candidate.
Volume is also picked up.
SL: 160.
Jk Lakshmi Cement Limited: Add to WatchlistNot yet break-out happens.
But keep a note of this stock once it breaks above the consolidation zone.
A 7 months rounding bottom formation.
followed by a few days of consolidation.
Two possibilities:
1. Either will give a breakout.
2. Retrace -> create a Cup-and-Handle .
Keep an watch.
REDINGTION INDIA LTD ( EDUCATIONAL PURPOSE ONLY)There is no guarantee in stock market and Nothing over week
Always Invest or trade according to your loss bearing capacity
STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY)
REDINGTON INDIA LTD. with target of RS 165 CMP IS RS 158.15
STOP LOSS: ACCORDING TO YOUR RISK APPETITE OR @RS 153
Disclaimer: I am not Sebi Registered. All my ideas/opinions and analysis are for your information and educational purposes only and it does not constitute any recommendation to buy or sell any stock or index. Use your own wisdom.
M B PANDEY
Student of Share Market since 2015
B.Sc. (MATHS & PHYSICS)
Disclaimer: I AM NOT SEBI REGISTERED
Stocks to watch for 10/02/2021Breakout expected.
Go as per the Breakout .
Wait for the pull back .
Don't rush to buy/sell after breakout.
NOTE:
BLUE LINE : Major Support and Resistance line
Orange Line : Minor Support and Resistance line
