Ceat BreakoutCeat has given its breakout and has sustained it. It is a big breakout and the slanting line was re-tested as well. Keep stop loss at 1600 and go long. Breakout on Monthly levels.
Thebullofdalalstreet
Datamatics Global Darvas Box FormaitonDatamatics has formed a Darvas Box and is attempting a breakout. A close above 360 would initiate a Buy and that level would then act as a stop loss. Keep a close eye for any positive movement. Long consolidation has happened and a solid breakout would ensure a good run in the stock going forward.
Crompton Greaves: Last Line of defenceIf the shares of Crompton Greaves break the levels of 260 decisively on weekly basis then expect levels of 200 for this share in the coming weeks. However, this level is a good support and if held, this level could also act as a zone for reversal in the future. Act only once the stock has given a decisive breakdown (for shorters).
Railway Stocks Booming in IndiaWith other Railway stocks running up, at the current moment only RITES is in the buying zone. Breakout above 380 would initiate a buy and that should then act as your stop loss. KEEP ON RADAR FOR TOMORROW.
RVNL and IRCON have given good solid moves.
ICICI BankICICI Bank has declared a solid set of numbers. ICICI Bank remains one of the strongest banks in the country. Technically also I believe that this is one of the strongest stock in the stock market. In my opinion, one can go long in this share above 940. Hold for long term if 940 is taken out.
Bata India Reversal CandidateBata India looks strong with a reversal in place. Keep the stop loss at 1390 with targets of 1600 and then 1650. Stock looks strong on technicals and has good relative strength at the moment.
Nykaa May Bottom Out HereNykaa has been continuously falling ever since its listing at a very over priced valuation. Everyone was bullish on it back then but no one thought about the risks that would be there if one were to get in at such a high valuation. Well past is in the past and now there are chances that this share might bottom out here. Wait for a reversal before buying.
ITC continues to look very strong | Stop Loss Levels revisedITC continues to look very strong. Stop Loss Levels revised.
Short term traders Stop Loss: 370
Momentum Trader Stop Loss: 360
Momentum Traders who can handle volatility can keep Stop loss at: 345
Disclaimer: invested in the stock. Not an advice for you to buy/sell. Just letting you all know the levels as per charts. Do things according to your understanding.
I'm also a non smoker and do not encourage smoking 😒 🚭
Apar Industries Continues to Go UpApar Industries is a solid pick with a darvas box breakout formation. Stop Loss at 2400, the stock continues to look strong and should be on every trader's buy list. Continue to ride the momentum.
Abbott Attempting a BreakoutAbbott India looks very strong on charts and is attempting a breakout at ATH Levels. If it sustains, sky is the limit. I also feel that the pharma rally has begun with a lot of pharma stocks showing momentum and strength in this market. Keep on radar. Buy above 22850 only and keep that level as stop loss.
Tejas Networks attempting a breakoutTejas looks solid at these levels if the breakout sustains. Buy only above the line (clearly marked). That line will then act as a stop loss (or support levels) and one can ride it for new all time high levels in my opinion. Looks strong.
Jubilant Foodworks Bottom fishingIt does look like this will be the bottom for Jubilant Foodworks, with a doji on monthly time-frame forming at a crucial level. Keep a track for signs of positivity next month. I like the business fundamentally and technically if this turns out to be the bottom, then it might turn out to be an easy outperformer in the coming years.
Why Fundamentals are ImportantBCG is one share that was hyped in the Indian Stock Market by some famous names and all looks well when the stock runs up, the real test happens when issues come up and stock starts to correct. With no respite in this stock, many retailers will have to book losses. As per price action, this is the last level. Hence, this post comes as a reminder to always buy what you understand and always have a technical stop loss, no matter what.
Microsoft continues to look attractiveMicrosoft continues to look strong in this weak market. Keep a stop loss at $240 for targets of $340 in the coming months. Microsoft's stake buying in OpenAI has certainly helped the company in getting ahead in the AI race.
Crucial Days ahead for VedantaVedanta looks in a lot of financial stress and shorters are now behind this stock. Coming days will be crucial and in my opinion, 250 should be kept as a stop loss in this share if you are already invested. Do not jump in unnecessarily.
Biocon Holds Support for NowThe share of Biocon has been struggling for the past many months. It has corrected in an unprecedented manner. However, it has just come to a support which, if held, can be a good place for a reversal in this stock. Keep it on your watchlist. Support line is clearly marked in the chart.
Dreamfolks ConsolidationDreamfolks is consolidating well. Buy on breakout only. Keep the resistance line as stop loss for initial targets of 450.
