As perfect setup for swing Traders. Increase in delivery volumes plus 5 EMA crossing 20EMA from below. and almost stock is bottoming up near 4500 levels.
As seen in the Chart of Larsen that a Clear Break out is given from below in Trend Line. Further a Double Bottom chart is formed giving a clear break out, Ready to move towards next level 1980.If this level sustains then 2050 is in the cards.
As from past one month the share is trading in range bound manner.
A near term short term target of Rs. 195 in few days along with final target of Rs. 200 can be seen in near Future. The concept is clearly based out on Fibonacci Retracement. SL can be maintained at Rs. 175
In the ongoing market volatility, select life insurance companies largely remained resilient and outperformed the markets.
SBI Life is one such stock, which has largely consolidated above its highest Put base of 900 amid increased pick-up in
delivery volumes. Th Stock can see 980 levels in coming few weeks.
During last couple of Trading sessions Bandhan Bank has broken the Resistance Level of 317. The Stock can been at near about second Resistance at 295. No much movement in the Stock is expected.
Considering the extreme Summer conditions yet to come in India. Also the highlighted portion shows that the Stock is currently into consolidation phase. So with 10-20 Days time Horizon a target price of 1000 with stop Loss at 910. and for up to 3 months holding period we can se a rally up to 1100-1125 range by mid of July.
There is a strong support level at 292 and next support at 281. A near term bullish with the first target of 312 and next and final target of 324 can be seen.
NSE:TATAMOTORS
As the India is witnessing a strong second Wave of Covid19 and also looking into recent trends of NIFTY. A Major Support of NIFTY holds at 14000 levels. If the 14000 Levels breaches then the next major support lies at 13600 and 13200 levels.
