AkhilSuryaFS

AkhilSuryaFS

VIP Industries in recent weeks is in a sideways trend since February. Taking a broader look we could find the price action is forming lower highs and higher lows leading to a triangle pattern. Currently, the stock looks to be in the middle of both the patterns and only a breakout could give us a clue on next big swing. It would be wise to get in if either 485 or...

AkhilSuryaFS

Gillette produces a monthly breakout. After a consolidation for a period of 16 months, price broke out in April very strongly. Technically, the consolidation phase can be considered as a bullish continuation pattern i.e. Bull flag and that means a big uptrend is only about to begin. Technically speaking, potential for the upside is nearly 45%.

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Double Top pattern spotted in Bandhan Bank . Pattern is confirmed as price has broken below 532-542 range. Pattern suggests a target of 436 which is 18% downside.

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BPCL breaks down after a period of consolidation. Apparently, price action is showing a Bear Flag pattern, which will be confirmed if the running candle closes below 376.40. Target of the pattern comes in at 334 levels.

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Ascending triangle pattern observed in Daily time frame. Purely from pattern standpoint it suggests confirmation for a possible Bull trend. However, looking closely at recent price action and Fibonacci levels, 170-174 looks to resist an up move. Hence a daily close above 174 would make the case for Bulls stronger. Alternatively, based on one's individual risk...

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Bullish Flag pattern spotted in HDFC. Yesterday's candle confirmed the breakout and price could move towards 2525 based on the pattern. Today's fall seems like a retest of the pattern.

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Double Top pattern spotted in Britannia. Pattern is confirmed by failure of 2860 levels. The stock can be expected to fall nearly 5% towards 2720.

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Bullish Flag pattern observed in TCS. Yesterday's candle confirmed the breakout and price could move to 2380 based on the pattern.

AkhilSuryaFS Updated 

Rounding Top pattern observed in Nifty. Neck level is at 11615, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 11127. We could also find that 61.8% Fibonacci retracement level of the previous swing falls at 11164. Hence if the index falls, 11127-11164 would act as a strong support area. But for now 11615...

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Double Top pattern spotted in UPL Limited. Pattern is confirmed by breaching 987 levels. The stock can be expected to fall by about 5% towards 934. Do notice that rising Trendline is broken.

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PVR technically seems to be in a bear grip. We could notice a descending triangle pattern and also a rising trendline is broken, both of which suggests short selling. We might see price pulling back to 1700 levels and then fall to 1550-60. 38% Fibonacci retracement of previous bull trend falls at 1550 which is around the same area.

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ICICI Bank trading along a rising channel. Currently it has hit a resistance area. A break and close above 425 might take it towards 430 and 437. However, if the resistance is to hold price could fall to the bottom end of the channel.

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GAIL is trading in a good demand zone. Historically, as the chart suggests we could see a bounce from current levels. Preferably Cash investment should do good.

AkhilSuryaFS Updated 

Yes Bank breaks down after a brief consolidation. Bear trend still holds strong. 108 was a Bear Flag target in 4Hr chart (attached below for reference). Another possible Bear flag depth (also shown in the chart attached below) then indicated a target of 80. Considering the fresh break downwards the stock is expected to fall to 100 which is very critical. Below...

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Rounding Top pattern observed in Nifty Bank. Neck level is at 30200, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 28620. We could also find that 61.8% Fibonacci retracement level of the previous swing falls at around 28600 coinciding with the pattern target. Hence if the index falls, 28600 region would...

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With the news of HDFC AMC providing liquidity up to 500 crores to FMPs, the stock has fallen 6% at a point intraday. Price has temporarily bounced off from 38% FIB of previous swing. That level also being round number of 1800, it could well act as a support. Do notice the rising trendline. Chances are that the candle close could be above the trendline. Hence, it...

AkhilSuryaFS Updated 

NIFTY is trading in a falling channel as we could observe from the chart. Immediate support lies at 11615. Fibonacci extension (1.618) of previous upswing between 11769.5 and 12000 (as marked in chart) falls at 11626 which more or less comes in at same level. Technically, even though we could see patterns like Head & Shoulder and Rising Wedge whose targets run...

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Rounding Top pattern confirmed in KotakBank. Neck level 1467.5 is broken decisively and the stock can be considered as Short candidate. Do note that volume has been diminishing as the pattern was formed adding further confirmation of a temporary weakness. Target for short selling comes at 1394 according to the pattern, whereas 1400 as target could be safer.