Another Long Base BO of 60+ weeks. And that too in IT sectors. CNXIT is talk of twitter for now. IT names had to pop up. As always, volumes -> Check, Price appreciation -> Check, Long base BO -> Check Fundamentally, it hasn't been at its best, but has handled last few quarters well. Let's see if the IT story is actually in a turnaround in these market...
TINPLATE is near a long weekly base BO. In my experience, Long weekly base BOs are highly successful BOs and one should keep an eye out for that. Fundamentally firm has had a good last quarter, but previous quarters before that were not good. So this might be a turnaround play fundamentally. Came in 1 Month Momentum Screener. Keep in list to see if BO happens...
VRLLOG BO on a weekly timeframe. It did break out from a large weekly base previously but then broke down. Last 3 weeks it has broken both level as indicated on the chart and this week it gave good volumes as well. Came up in screen for 1 Month momentum, lets see how this rolls further. Fundamentally stock hasn't given good quarters recently. So not sure about...
IT sector is building a momentum for now and constituents of IT index are showing strength. MPHASIS is one of them I studied a while back, it rides on pretty heavy financial clients majorly US banks, and seeing this BO makes one think if this can follow up ahead. Momentum certainly feels to be creeping in.
ICICIGI BO from a large weekly base, volumes are there, this BO is happening post a gap up which happened a few weeks back. Good candidate to move ahead and follow from here.
CAMLINFINE is trying to fill the earlier gap down opening, filling this and moving ahead is important for this scrip to get more attention ahead.
BIKAJI BO on daily chart with decent volumes. Good strength on the chart and earning also seem to be good in the last 4 quarters with good growth.
CHALET BO on daily chart, just see the huge volumes on this, Previous day pushed the price ahead, clear markers of some big fish or institutional entry here. Keep a track of it and see if any entry makes sense.
AFFLE showing good movement for some time now and today breaks out with higher than average volume. This scrip came in hard on monthly momentum screens today itself, shows that something has been brewing as we can spot some volume spikes on the chart. Recommended to keep an eye out for this as market overall feels extended.
JSWSTEEL breaking out with volumes in early part of the day, today might be strong movement considering already volumes are 40% higher than average and a break out has happened which will attract more people to the stock as it comes up in various screens. Keep in the list.
NOCIL attempting a BO today with higher than average volumes, selling pressure can be seen, most likely is some overheard supply, once that clears out, volumes should move it ahead. Keep an eye out on it.
CESC is showing good volumes at BO and a beautiful cup and handle pattern has also formed prior to BO. Seeing volumes, this is one of the ones to keep an eye out for.
Huge volumes today, with price appreciation. Generally this should be followed up with some consolidation that can be considered as a minor base formation or even a VCP (Volatility Contraction Pattern) before breaking the high created today. Entering now would be a bit tough as it might be overextended. Keep in the list to see if it gives another chance ahead.
LTIM breaking out again with higher than average volumes on daily timeframe. IT index still in an attempted rally, but some IT names are showing strength lately. Keep an eye out on how the IT theme plays out ahead.
HSCL gave a gap up opening post BO the previous trading day. Looks positive, and should be tracked ahead to see if one can have a decent entry point.
IFCI breaking out of a decent daily base with volumes above average and price appreciation as well. Good to keep in the list to see how it moves ahead. Fundamentally stock has mixed results in past 3-4 quarters, so let's see how clean a move we get here.
Tata Consumer is breaking out of a big base in weekly charts, and volume spike can be observed today on daily charts as well.
DATAMATICS Near BO with decent volume spike, 52 W BO, ATH BO. Good Watchlist Candidate to see if it breaks the previous high.