on the daily chart, voltas will be forming a morning star right at the confluence of support zone if buyers show control today.
If the volumes come in today, voltas can be seen moving upwards continuing the prior trend.
It has respected the 50% retracement mark and shown correction both in price and time.
There is a buildup near the resistance and that signifies a possible breakout and continuation of up-trend.
The volumes during the consolidation are also low and the stock has been making a higher lows structure in form of an ascending triangle.
Strong above 718-20,target is 2-2.5%
View is invalid if price breaks the triangle on the lower side.
Support at 695-700.
This is an extension to the analysis posted before.
The stock has already given a 1:3 RR.
The power sector is seeing huge inflows and that is expected to continue.
Torrent power saw extra-ordinary buying volumes with low volume pullbacks.
Time horizon : short term-medium term.
After the breakout, the retest volumes have been low.
The stock seems ready to break the trendline and move upwards.
The trendline break should be convincing with high volume and the candle should depict buyers in control.
Previous resistance will act as a support.
The resistance zone has been quite strong for icici bank, can possibly act as support now after breaking out.
If the formation of double bottom is completed and it breaks the trendline, high probability of reversal.
The levels of 630-635 are being defended by the buyers.
It is a confluence of multiple supports coming in.
The breakout if happens should nullify the...
Metals have seen a huge rally in the past 6 months.
They are still quite strong and could show another small leg of the rally in the upcoming days.
Nifty metal index has formed a bullish continuation "cup and handle pattern" on the daily timeframe.
It signifies the continuation of the uptrend after breaking out the resistance level or the neckline of the cup.
AXIS BANK has been making higher low structure and moving up in an ascending triangle.
It has been currently building up at resistance with low volumes.
Possible breakout on the cards.
Daily closing above 752-53 is required with high volumes for confirmation.
intraday and short-term view : the stock is seen building up near the resistance with extreme low volumes.
it has been seeing good buying volumes since the past couple of days.
plus the major trend is uptrend.
the risk-reward is quite good.
possible breakout candidate. NSE:ASTRAMICRO
It has given a breakout supported by high volumes and is currently consolidating with low volumes.
The structure is bullish symmetrical triangle pattern.
Enter after breakout of the pattern if the volumes support the breakout.
safe entry above 292.
Time horizon :short term
Torrent Power saw huge buying volumes after posting great results post-consolidation.
It has given a breakout of the wedge-channel pattern on the hourly chart.
The retest is done with extremely low volumes and it is currently at the support zone.
Can go long for short-term.