DCB Bank is currently positioned at a strong support level, coinciding with a trendline and the Value Area Level (VAL) in the volume profile. This alignment suggests a potential bounce from these levels. If the stock breaks above the trendline and reaches the Value Area High (VAH), a 30% upward movement could be expected. Fundamental Points for DCB Bank...
Sundaram Fasteners is currently at a strong support level around ₹1,000, having declined 30% from its all-time high. This presents a potential buying opportunity for investors. Fundamental Points for Sundaram Fasteners (2024): Market Capitalization: Approximately ₹22,566 crore. P/E Ratio: Around 43.26, indicating a premium valuation. Return on Equity (ROE):...
Jaiprakash Power is currently at a strong support zone, making it an opportune time for investors to consider entry. There are three entry zones recommended for splitting investments. As a micro-cap stock, it’s advisable to allocate minor capital. Fundamental Points for Jaiprakash Power (2024): Market Capitalization: Approximately ₹12,110 crore. P/E Ratio:...
Apollo Tyres is currently positioned at a long-term trendline, which may indicate a potential bounce from these levels. Alternatively, investors might consider waiting for the stock to reach ₹440, a strong support level. The price has dropped approximately 20% from its all-time high. Fundamental Points for Apollo Tyres (2024): Market Capitalization:...
Bajaj Auto is currently trading around ₹8,600, presenting a potential buying opportunity as it has dropped 30% from its all-time high. This price level aligns with strong support, making it attractive for investors. Fundamental Analysis of Bajaj Auto (2024): Financial Performance: Revenue: Increased from ₹33,145 crore in FY 2022 to ₹44,870 crore in FY 2024. Net...
Maruti Suzuki is currently trading above a significant support level of ₹10,948 and is forming a triangle pattern. A breakout from this formation could lead to a bounce from these levels, potentially reaching the target of ₹13,530. Traders may consider entering at ₹10,942, with a minimum stop-loss placed slightly below the support zone at ₹10,660. Fundamental...
Nifty has formed an inverted head and shoulders pattern and is already in an uptrend. This setup presents two buying opportunities: you can enter again at the support level of 24,585 with minimal risk, or you may choose to wait for a breakout above 24,697. If it crosses this level, there is a high chance it will reach 24,850, potentially yielding over 150 points....
As discussed earlier, Nifty broke the trendline. To confirm a bullish movement in the coming days, Nifty needs to: Break the strong resistance at the 24340 level. Sustain this breakout. Achieve a strong close above 24340. If these conditions are met, we can expect a bullish movement. However, Nifty may retrace to the trendline before resuming its upward movement.
The Nifty is currently finding support at 23,342, aligning with both the short-term and long-term trendlines. the support level, short-term trendline, and long-term trendline—are coinciding, which did drive the market upward. However, the long-term trendline is not entirely reliable and lacks strength. We can better judge its significance if the Nifty retests and...
NSE:BANKNIFTY has currently formed a head-and-shoulders pattern, indicating potential bearish sentiment. The asset has been showing weakness over the past few days. Additionally, a diamond pattern formed inside the right shoulder, which has also broken down. The 49650 level is a strong support line and serves as the neckline of the head-and-shoulders pattern. The...
We previously discussed the formation of an inverse head-and-shoulders pattern, which typically signals an uptrend. However, today the pattern broke down, and Nifty is once again falling. There is a trendline in place, and there is a chance that Nifty could bounce off this trendline. Currently, Nifty is moving towards the next support level at 23,335. Traders...
We've already discussed that Nifty is currently in a bearish mode. For Nifty to gain momentum, it needs to form a specific pattern and break out of that pattern, which could indicate an uptrend. Currently, Nifty is forming an inverse head and shoulders pattern, which typically indicates a potential uptrend. If it breaks out of this pattern, we can expect a...
Zydu LIFE currently at very good support, There is good volume around that levels. and crossed VAH. also there is a trendline. it might bounce from that level.
Hindcopper is breaking through strong resistance levels, and if a daily candle closes above the 348 mark, a potential upward momentum could be anticipated. The trendline has also been broken, further supporting a bullish outlook.
DBCORP has recently found support at a well-established trendline, with multiple candles confirming this level. An upward movement towards the 373 resistance can be anticipated. Entry is possible with a minimal stop loss for risk management.
Apollo Tyres: Technical and Fundamental Analysis Technical Analysis Long-Term Trendline A strong 2-year trendline has been established This trendline has provided support 7 times on the daily chart Current Market Situation The market is currently attempting to take support at this trendline If support holds, it could indicate continued upward...
Trendline Breakout: Tata Steel has recently broken out of its trendline. Current Position: The stock is currently sitting at a key support zone. Potential Reversal: It's crucial to wait for a solid bounce from this support level to confirm a reversal. Alternative Trendline: There is another potential trendline below the current support where the stock may also...
Previous Bullish View (4th October) Strong candle closed on the trendline Nifty moved up 200 points post-closure Current Scenario Reversal occurred Closed below the trendline Trendline currently acting as resistance Bullish Scenario Requirements Nifty needs to make a strong close above the trendline Key Points for Traders Watch for a convincing break and...