Indusind Bank has been moving in an ATP, and although today it moved up with momentum but failed to breakout of the ATP Resistance.
If tomorrow it crosses 481 and sustains, can go long for atleast 40 points upward movement.
first target is 525.
CENTURYTEX - rejected from previously formed resistance.
If we draw trendline from recent low, its clearly acting as support line.
If breaks below 324 levels from current levels, we can expect good downside upto 310 levels.
Support 1137 nearby
Final Support 1061 nearby
If price fall heavy, reversal is possible. The tail is an important role in this stock for confirmation of direction.
We have already seen tail last week but it's little smaller.
1242 is first target and last one is 1352 but the expected time will be too far for last target.
Maruti is in a daily descending channel, which has completed 3 touches indicating a reversal. There is a small falling wedge at the 3rd touch.
Entry after 5546 is broken.
Traders can have a stoploss of 5441
Target 1 - 5650
Target 2 - 5710
This content is for information and educational purposes only and should not be considered as a piece of investment advice...
Mahindra & Mahindra is in a descending channel at a double bottom structure at a weekly support zone. The RSI suggests a positive divergence.
Target 1 - 566.
Traders can maintain a stoploss of 540
Traders can look for further targets after 566 levels have been broken.
Trade strategy for ABB India Ltd can be approached by 3 ways. Below are the ways mentioned,
1. Since 1620 is good resistance, shorts can be initiated at current levels with stops above previous traded high of 1640. Exit points can be either on i)Rising trendline level or ii)Support area between 1547 & 1567 or iii) 1505/10
2. If the stock breaks the above...
On 4th Sept DLF charts were suggesting of history being repeated and that we might see lower levels of 173 / 166
Well it has done exactly that....
- we saw the stock bouncing back to 76.4% retracement like on previous occassion...
- getting rejected at those levels...
- and falling back...