1- Stock already in a positive trend - Trading well above the 100DMA and forming higher highs and higher lows
2. It just crossed the 20DMA and gave a closing above it for 2 consecutive sessions indicating regaining strength after almost one month of consolidation.
Can bet for a target of around 770 in few days. SL around 680.
Falling wedge breakout.
Rsi Indicator is at strong zone.
Buy at Current levels.
Target 707 first. If it crosses, 800 is a good possibility.
Keep trailing stop loss now of 660 then the future targets.
Gillette broke out of a multi-month resistance of around 7110 on Friday with a huge upmove. This is a good sign as it marks a rectangle breakout.
However, It is interesting to see if this breakout sustains in near term.
RSI indicates a downturn from this range as it did historically from similar levels.
As per my analysis, the 7100 levels are important to...
The much awaited breakout happened in Maruti In the week before the last one only. But, it is better to not fall prey to failed breakouts. Hence I waited this week to confirm the breakout.
1) Strong Chart patterns —
Triple bottom formation with triangle pattern breakout.
2) Reclaiming 20WEMA —
So the actual wait was not just the triangle breakout,...
- Previous week ending 5th April was bearish for HUL. Then a green Doji on 8th April showing indecisiveness against the bears. This was followed by bullish candles confirming a trend reversal this week.
- This reversal happened exactly at the long term trendline as shown.
- Stock moved in downward channel for past two months. Finally appearing to...
- After a sufficient fall, we see Dabur fighting and denying to break the downward support of 400 for the past 6 trading days. Today finally a green indicating a probable bounce back from these levels on the trendline.
- Looking back at how it fared with bollinger band shows a higher probability of reversal when it touches the lower end of the bollinger...
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly
1600 is the crucial level to watch out for. Go long if it is able to close and sustain above that level.
On the downside, the range around 1470-1500 could act as support which would be a golden chance to shop this counter.
Analysing historical RSI suggests that the price reversed when RSI clocks mid 70s. Currently RSI stands at 74.67. Expect a one time price...
After reaching the highs of 495 in May 2018 the stock was under pressure for around 2 months and the uptrend again started from July when it bounced from 320. Post that Radico Khaitan is smartly following the trend line and marching on to reclaim its previous high of 499 which is also a strong resistance which it tried to break twice in 3 months.