Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.
RSI(14) indicates a build-up in strength.
Nifty pulled back in a converging wedge pattern till golden fib 61.8 level and developed a clear bearish engulfing candle pattern in 30m chart. Short trade can be initiated below 11380 (spot) tomorrow with stop loss at 11480 with a target of 11110 (RR>2.5).
Trade is not recommended for intraday traders with capital less than 1.5 Lakh Rs.
Swing Trade with horizon of about 3 months.
Target: Rs. 2200.
Hindustan Unilever has seen about 10 months of consolidation followed by a flag breakout. A close above the downward channel flag could mean a possibility of higher levels to come. The target will be the distance between the base and top of the flag pole (approx. Rs. 200).
Support is seen at Rs. 1920.
Whirlpool has remained in an accumulation rectangle zone for almost a year preceeded by over 2 years of bull run. The scrip has seen some supply that was absorbed and has been followed by a relatively higher volume breakout on the weekly charts. There appears to be strength in the uptrend.
Longs may be initiated on dips (closer to EMA 9 on the weekly charts)....
Hindustan Unilever has been consolidating in the form of an ascending triangle for more than a year.
This consolidation is now finally broken. I'l leave it to you to decide entry for this LONG journey!
Intraday and short-term swing call NSE:HINDALCO
* VALID ONLY - NOT TRIGGERED ENTRY PRICE MORE THEN 2 DAY IGNORE THIS CALL
Entry - LONG
ENTRY PRICE - 198.10
SL - 193.55
T1 - 200.10 (FOR INTRADAY)
T2 - 202.10(FOR SWING 5 TO 10 DAYS)
Marico has been consolidating from a nice and long uptrend for more than a year now.
This consolidation pattern appears to be a symmetrical triangle that is now broken.
Its certainly worth timing your entry for a LONG ride!