COFORGE experienced stronger bullish rally and hit the pull back. momentum of pull back is very high and lots of strong bearish candles back of expanding volume, signifies, weaker pull back strength.
Exide industries is breaking down further from here.
162 is a strong resistance. Breaking from here could lead to a fall of upto 152.
Trigger shorts @ 161. Target@ 152. SL@165
IRCTC is on thin ice here. Weekly charts show the stock has always taken support at 1345 levels. If it closes below the levels, could be a not-so-pleasant journey for the stock.
Short initiate at 1343. Target@1314. SL@1354.
BAJAJ FINANCE , amongst the favorite counters to initiate a trade on the long side is seeing a different scenario now. With the 21-day lockdown, consumption has slowed down considerably, and discretionary buying is out of sight. With the economy now slowing down even further, the earlier growth rate is hard to achieve.The stock is having one of the most...
There is some weakness in the fist half an hour of trading. It is highly likely that we stay with in the yesterday's range with probability of choppy action.
Equitas is trading in a parallel downwards channel. It formed a bearish harami candle on daily charts. Price rejection can be seen from top of the channel. Shorts can be initiated at CMP with easy targets of 100-95-90. Stoploss can be kept at a closing above the upper trendline.
COX_KINGS failed to participate in the recent market rally, continues to fall with increased volumes, Further downside possible. Not the time for bottom fishing, short sellers can keep in watch list.
PNB is forming a Descending Triangle, look for opportunities as specified on chart.
Entry : 91.5 - 92 Range (Take Stance after getting a strong closing below given range)
Stoploss : 2.5% (Closing Basis)
Basic Target: 89
Optional ways : Derivatives are best case as expiry is just 7days away.
if you have any queries regarding above idea or...
The weak numbers from auto companies lead to massive selloff in the auto stocks and also auto ancillaries.
Seems the fall would become a bit nimble now.
Below 8750 we may see more weakness towards 8515.
Regards,
Vinay
HDFC ltd Bearish engulfing pattern looking weak from current level
Expecting more downfall from current levels more downfall expected
anext support levels 1600 1550 1500
Swing Trade (D, 240)
Price is in overall seller territory from D perspective, we broke the major S & R (green line) and price rejected twice going through that area and left a probe. We turned people into buyers so that we can sell for higher price. On 240 sellers shows an aggressive sign of coming back swiftly challenging the buyers who started this movement. We...
