Today's up move seems to be a decisive one after price having spent considerable time in the 130-135 range. Will there be a follow-up in the days to come ? Looks like there's more upside here, to me.
Price seems to have found nice support near 370-380 zones on the weekly charts. Last week's rise seems to be an indication of buying interest at support. Once the levels of 430 is crossed on the charts, a short term move to 480-500 seems possible. Will consider for Long next week on a small retracement. SL below low of last week is a bit steep for my liking....
Price seems to be breaking out above 162, from a weekly consolidation zone. An interesting long setup here. Will add longs on a smaller retracement day.
Another stock that seems to be showing some buying interest. On watch list for now. Will review next week for long trades.
Seems an interesting setup on the weekly charts, after a nice bounce last week on decent volumes. A close above 48-49 can possibly bring in some momentum too. No position yet. Will keep a watch on this though.
INDHOTEL weekly charts is setting up well. On close above 110, it can be a good long candidate in my view. Ideally, I would have to liked to buy 90-92. But it didn't show up in my scan then. :|
PRAKASH INDUSTRIES is heading towards a resistance zone on the weekly charts near 65-68. A break-out above this zone, will be interesting candidate for long. For now, watch mode. Above the resistance zone, will initiate longs.
Multiple lows near 70 zone. Last week, price showed early signs of buying interest. Today there seems to a good buying interest. A TLB on the weekly chart, can be further indication of price wanting to move up. I'm long with STOP below 70. So, I'm biased that way.
Price seems to have broken out above the zone of 100. I'm expecting a move up from these levels to retest prev swing highs. Let's see how it plays out. Below 80, long view is negated.
CYBERTECH - break out on weekly TF. Looks good for longs.
ARVIND - has given a nice break-out on weekly TF on good volumes. This is sign of strength and the stock is likely to rise further in the weeks/months to come. A retracement to 360-370 (wishing for it), can be a nice entry, with a long term view on this stock. I don't know if the market will oblige as of now. Let's see what happens.
LT is setting up a nice triangle formation on the daily chart. Price seems to have found support near the 200EMA daily as well. In today's rally, it's made a 3 week high as well. Can it break-out shortly OR will it break down ? Very interestingly poised for the next few days/weeks. I'd prefer a break-out here - color me biased :)
Nifty seems headed towards 8740 zone to retest the upper parallel of the fork, as of now. It maybe interesting to note what it does there. Watching for now.