VMM
Nifty gearing up for the big move soon! Today’s candle in NSE:NIFTY is a Squatting Candle.
Such a candle absorbs supply, increases demand, and then absorbs demand too –
It closes far below the high, making people think the market will fall.
Even buyers exit their positions.
This way, it traps both sellers and buyers, and then gives a big, clean move in the direction of the trend.
Stocks where this candle has formed are likely to give a big move – like NSE:VMM
So I clearly say – Market trend is bullish, and we may see a big move in the coming days.
We just need a follow-up move tomorrow to confirm this.
Till then, Nifty levels:
Resistance: 24865 / 24900
Support for tomorrow: 24690
Stop-loss (SL) for all short-term holdings: 24460
Important Note:
Tomorrow is RBI’s meeting and also the last day of the week,
So we can expect a shakeout.
NSE:BANKNIFTY needs attention too because it has very strong momentum.
If 56200 is crossed, we can see a big breakout.
If that happens, keep an eye on all PSU Banks.
Short-term support in BankNifty: 55250
That’s all for today.
Take care. Always use proper Stop-Loss in all your positions.
Vishal Mega Mart Ltd (VMM) Cup and Handle BO with good volumeThe chart you've provided is a **cup and handle breakout pattern** for *Vishal Mega Mart Ltd (VMM)*, which is a classic bullish continuation pattern in technical analysis.
### Key Observations:
1. **Cup and Handle Formation**:
- The "cup" part of the pattern formed over February to mid-April.
- The "handle" formed shortly after and broke out with a strong bullish candle on April 30.
2. **Breakout Details**:
- Breakout above the resistance zone of **₹113.50–₹117.41**.
- The stock closed at **₹118.48**, up **10%** on high volume—indicating strong buying interest.
3. **Price Target Projection**:
- Depth of the cup is approximately **₹17.56**.
- Projected target from breakout point (₹117.41) is around **₹127.50**, which is also marked on the chart.
4. **Volume Confirmation**:
- Significant volume spike on the breakout day supports the validity of the breakout.
### Summary:
This breakout is a bullish signal, and the target is around **₹127.50**, as long as the price sustains above the **₹113.50** support zone. A retracement to retest this breakout zone is possible, but the pattern remains valid unless it breaks below this support.