Amit_Thakkar_

Amit_Thakkar_ Updated 

Price has broken out of a nice consolidation and if it does a minor retracement and then creates a strong bullish candle, it will be a good buying opportunity. Stoploss would be below the previous resistance and trailing stoploss can be below 20EMA. Alternatively ATR can also be used to determine trailing stoploss, it all depends on what you are comfortable with....

Amit_Thakkar_ Updated 

Titan has formed a reverse head and shoulders pattern on the weekly charts and will have to decisively break out from the current resistance channel and close at a price above 2810 to further validate the bullish pattern. Stoploss would be just below the resistance channel. First target would be at around 3775 levels, although given the volatile nature of the...

Amit_Thakkar_ Updated 

IEX is finally showing signs of a consolidation and also a potential breakout after a healthy correction from ATH. With RSI at 50+ on weekly charts, this makes it a good candidate for buying on dips for as long as trend is up. To ascertain if trend is up please keep track of certain indications - 1] Price action - Higher high and higher low formations 2] Moving...

Amit_Thakkar_

Nifty now seems to have invalidated the head and shoulders and if it closes above 19000 with good volumes on a weekly basis, a cup and handle / VCP pattern might be validated and we might see a healthy bull run once again. Good time to take positional trades on stocks, in my opinion.

Amit_Thakkar_ Updated 

Nifty has taken rejection at the top and seems to be forming a potential Head and Shoulders pattern, which is a bearish pattern. But this pattern will only be validated if price breaks the important support zone of 16800-17000 levels . On the other hand, if the price climbs back up and breaks the resistance zone of 18350-18500 , we might see a strong bull...

Amit_Thakkar_

Nestle has created an inverse Head and shoulders pattern on a weekly chart and given a breakout too, with good volumes. Moreover it is an FMCG giant with healthy financials, making it a relatively safe and stable stock. Buying near the support zone with stoploss just below it and a target of 26k, this seems to be a good trade setup. That said, please make sure to...

Amit_Thakkar_

AU BANK has been consolidating and trading in a range since about 2 years now. When will it break out? I don't know, and if anyone says they do, they are gambling. But what I can say is that if price breaks out of the range with good volumes, there is a good chance that we will see the price trending upwards for some time, which would be a very good opportunity to...

Amit_Thakkar_

A triangle pattern is being formed on weekly/monthly charts of Honeywell Automation and if price breaks out on the positive side with good volumes then a buy trade can be initatiated with a healthy upside till around 65000. Please make sure to keep a stoploss and even trail it along with proper position sizing and adequate risk management!

Amit_Thakkar_

GNFC is developing a Cup and Handle pattern, which is a bullish pattern on weekly/monthly charts, indicating strength. Moreover, company fundamentals are also very good with zero debt and healthy ROCE. Price has started moving towards bullish territory but please do keep a strict stoploss and adequate position sizing.