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Can Paytm reach 1000 with this breakout?The infamous stock of Paytm which was the largest IPO at the time of its listing has eroded IPO investor's wealth by more than 50%. However, the strong has been consolidating from quite few months now. We have seen multiple buybacks from the founder and promoter in this stock during the same which was a positive sign. However, near the release of Q4 2023 results, the stock had started its uptrend by forming higher highs, higher lows. Now, the stock has given a breakout of inverted head and shoulders with heavy volumes last week whose neckline was 750. The stock has given weekly closing above 800 levels which is a big positive for the stock. The stock might face an immediate resistance near 840-850. One can keep this stock on watchlist for buying near retest of 750-760 levels if there is a retracement for big targets of 990, 1125. Note:- This idea is shared for educational purposes and should not be considered as a recommendation.
NSE:PAYTMLong
by chartistamey
2
SURYA ROSHNI for 60% (approx..) GainSURYAROSHNI is showing cup and handle Breakout on weekly chart. fundamental is also good. check on ( www.screener.in ) Volume is also good. CMP : 975 TG : 1400 SL : Below 21 EMA Stock's selection based on 5 Point Analysis: 1: Idea : Breakout. 2: Support : Volume, Delivery & VWAP. 3: Technical : 9/21/55/200-EMA, RS>0, MACD, RSI & Super trend up. 4: Fundamental : PE, PAT, Industry & peer PE and sector performance. 5: Timing : Entry Timing on Daily chart. Disclaimer : It is my personal view as a trader and for educational purpose only. Equity market involves risk . Please consult your financial adviser before taking any decision. Learning : Stop loss is very important concept in stock market it will protect your capital but prepare to invest in another to recover your money from other one. If you don't know what is this ? how to place it ? go to YouTube there are 100's of videos available, learn from it. " Learning is Life ". Disclosure : Going to Hold
NSE:SURYAROSNILong
by SthitaprajnaYogi
2
Castrol Ind Big Volume Blast since last 8 yearsCastrol Ind looks very attractive.. Fundamentals : Very Strong, Consistent growth on Sales, Profits and EPS. High Reserves vs very low debt. Only slight negative point is FIIs holding decreased in recent quarter still overall parameters are healthy Technicals : Very Bullish above 180 on weekly closing.. Harmonic pattern active + strong reversal indication with big volume spike after 7-8 years, 70 million vs Avg 13million weekly volume.. R 1: 180 R 2: 210 R 3: 240, Above that 270 + possible! S : 130
NSE:CASTROLINDLong
by GyanTrader_AKS
5
🚀 $BANKNIFTY Breaks Resistance: Long Position for ATH! 📈💹📈 Unlocking Potential: NSE:BANKNIFTY Breaks Resistance, Long Position Targets All-Time High! 🚀💼 In a significant development, NSE:BANKNIFTY has successfully shattered a key resistance level, marking a pivotal moment in its chart dynamics. This breakthrough signals an opportune time for traders to consider initiating a long position. **Why Consider a Long Position:** The breach of this resistance is often interpreted as a bullish signal. Traders view this as an indication of strength and potential upward momentum in the stock. Initiating a long position implies anticipating further price appreciation. **Setting Sights on All-Time High (ATH):** The strategic objective of this long position is to capture gains up to the All-Time High (ATH) level. ATH represents the highest historical point the stock has reached. Traders often set ambitious targets like ATH when they perceive favorable conditions for continued upward movement. **The Bullish Ascent:** With the resistance conquered and a clear path ahead, the stage is set for a bullish ascent. Traders entering a long position aim to ride the upward momentum, capitalizing on the positive market sentiment surrounding $BANKNIFTY. As always, it's crucial to conduct your own analysis, consider risk management strategies, and adapt to evolving market conditions. The decision to enter a long position should align with your individual trading strategy and risk tolerance. Stay tuned for market updates as NSE:BANKNIFTY unfolds its journey towards new heights! 📈💹 #BANKNIFTY #LongPosition #BreakoutTrading
NSE:BANKNIFTYLong
by ParthNanu
IRCTC - Ready to breakout again!IRCTC has given multiple small breakouts recently. Now it is on for a major one! IRCTC made double bottom pattern after a long consolidation of multiple quarters. It has now shown good volumes interest in past a few weeks and is ready to give the breakout from its previous high of 758. Once that is done it will be out of lower highs trends and get into higher highs - higher lows pattern. CMP: 740 Breakout level: 760 (751 will give the breakout but it will have another resistance at 760. So its better to take 760 as the breakout level. target: 870 SL: 738 Hope you make a lot of wealth. Remember: Skilled knowledge is the most precious wealth! Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
NSE:IRCTC
by anuragcoma15
1
Possible trend reversal break-out. #Evidence of bottom and trend reversal *As shown in the chart stock price has started forming higher high's and higher low's (3 higher high's and 3 higher low's) *Stock giving break out of bottom reversal inverse head and shoulder pattern,by clearing multiple previous pivot high's neckline *Stock crossing 200 EMA,re-testing it and moving back above it making higher pivot low *Every raise is accompanied by decent volumes,indicating smart money entering. Over-all at CMP of 25.50 one can go long keeping stop-loss at 20.00 and can expect prices to show 37-39 and 44-46 levels in coming days.Hence we have Risk reward of 1:3 Disclaimer:This are just my views on the stock no position should solely be taken on its basis.
NSE:TAKE
by UNDERDOG-29