Expecting a breakout in Glenmark PharmaceuticalsNSE:GLENMARK .
Expecting a breakout in Glenmark pharma as the stock has been consolidating for many days between 350 - 410 range.
Also RSI forming higher highs which could be a positive sign.
Breakout above 412 looks good and there is a 200DMA on 420 level. Above which could be safer entry( to be checked along with volume of the breakout). Expecting the stock to move to 500 range for short term.
If the stock retrace after breakout , expecting 410- 400 to be a immediate support.
I have shared my views as part of study purpose not any recommendation. I am studying stock market and believe sharing could help improve my knowledge
Stocktrading
uptrend parallel channel pattern in ABFRL.TATACHEM
Key highlights: 💡⚡
📈 On 2Hr Time Frame Stock Showing Reversal of uptrend parallel channel Pattern .
📈It can give movement upto the Reversal target of 330+.
📈There have chances of breakdown of supportlevel too.
📈 After breakdown of support level this stock can gives strong downside rally upto below 296-.
📈 Can Go Short in this stock by placing stop loss above 360 or last swing High.
Uptrend expected in TATA MOTORSExpecting an upmove in TATA MOTORS above 425 NSE:TATAMOTORS . Currently the stock has been consolidating for many days but RSI Indicator was forming higher lows which looks like a positive sign.
The stock is taking resistance at 420 level(indicated by green line)
Also a 200DMA around 425 level.
The 390 -370 range a good support
Along with that there is a trend line (indicated in a redline) which is being respected multiple times by the stock as support and resistance. Which is even taken resistance today.
So its better to closely watch a breakout above 420 - 425 levels with good volume could be a positive sign for up move. Also current market sentiments look good
Also will be watching the RBI meeting on Nov 3rd, expecting no sudden rate hike decision as the meeting is scheduled to give govt report on the RBI failing to keep the inflation under prescribed range range.
CHALTET HOTELS TO GO LONGChalet hotels to take a long entry above 370 for the next target level of Rs 400-405 with SL of 345-348. Good risk-to-reward ratio. Stock is trading near the 50 EMA Levels & with a high probability that stock will move up from the current level. currently, the chart is forming a hammer pattern in the last two sessions. This is for your educational purpose only.
BANKNIFTY FOR JACKPOT SETUP 28\10\2022 clear indication in 15 minute time frame chart.
resistance-41350\41500\41800
support-41150\41000\40800
nothing to loose follow simple trend.
#banknifty call above 41500 tgt-41700\41900
#banknifty put below 41000 tgt-40900\40000
now for short = neutral open #banknifty
41350 buy call banknifty for tgt-41500\41700.
41150 buy put banknifty for tgt -41000\40900
appreciate & follow for new update,opportunities
DJIA in 2nd Wave Correction of C Wave Downward (Weekly)On Weekly Basis:
DJIA has corrected almost 50% of its down move from 34152 to 28725. It is bear market correction, usually sharp bounces. It also has resistance of 50 DMA at 31125 which also a pivot point. DJIA fell from all time high of 36800 to 29888 which was A wave of Grand cycle and corrected 61.80% to B Grand Wave at 34152, also close to 200 DMA level of 33890. DJIA has entered into C Grand Wave which should be final capitulation phase with Sub waves of 1, 2, 3, 4, 5. In shorter frame, DJIA completed its Wave 1 from 34152 to 28725 and almost completed Wave 2 at current level of 31082. Soon it should resume sharp down movement with the target of 26441 completing its Wave 3.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.
Falling wedge pattern reversal in HEROMOTOCO.On 1h Time Frame Stock Showing Reversal Of Falling wedge Pattern It can give movement upto reversal target of 2640+. There have chances of breakout of resistance level too after breakout of resistance level this stock can gives strong upside rally upto 2900+.
CAMS ON THE VERGE OF BREAKOUT!!!Computer Age Management Services Limited (CAMS) is ready to give breakout above the range of 2640-2680. Watch out to catch it before breakout, can add it in dips near support region. Moreover, a very strong fundamental company with a strong market share of approx. 70% in Mutual Fund Industry.
LTI long opportunityNSE:LTI
Stock -> LTI
TimeFrame -> Weekly
Hello all!
LTI has been moving in a pole and flag pattern. It fell to its support in May 2022 and showed a strong bounceback in July 2022, thus also breaking the flag. This I believe presents a good opportunity to go long!
There are multiple other factors that strengthen my conviction on going long:
-The bounceback came off of the golden Fibonacci zone.
-The stock took support from its 200-week EMA.
-The golden zone coincides with the support zone.
Risk-averse traders should wait for a strong closing above the blue line as the stock will start trading above the nearest swing high and also the 50-week EMA.
*NOT A CALL*
#LTI #technicalanalysis #stocktrading #swingtrading #nifty #markets #trading #investing #ema
Grasim - IntradayGrasim formed an inverted " HEAD AND SHOULDER PATTERN " and the first target of 1700 is achieved.
Now it's trying to cross the zone 1650 - 1700.
Thus the Volume in Grasim looks good near the resistance level of 1700.
BUYING - 1704 or above we can look for buying and a morning 5min candle should close above 1700 will give a good rise.
- we can look for an inside candle and then take a trade.
- if it opened FLAT then we have to wait for the breakout.
Selling - If the 1700 level is taken as resistance then we can sell below 1690 which can lead it to the target of 1680 to 1660.
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Disclaimer: These are not any recommendations for any funds or stocks and are meant only for educational purposes.