EIDPARRY is beginning an upmove. It has broken the trendline support and intermediate support and started moving up. I would look for targets of 470 and 515, with a stop-loss if the trendline support is broken.
AARTIIND is on the verge of giving an opportunity to go long. The chart is self-explanatory. I will wait for one of the three price development scenarios to take effect before making a long entry, paying attention to a significant volume increase as a key for entry. For me, 1030 to 1040 is a good target band to take profits. A close below the long-term support...
GMRINFRA is looking good for a target of close to 34. A strong close above the 50-EMA, triple bottom with strong support at 27.35, MACD and RSI – all these indicate a significant upside potential. I would buy 50% of volumes at the current price and rest 50% once the price crosses 30.
ASHOKLEY has taken support at 132 level which was the previous major resistance and also 50% retracement of the recent upmove. On 1-hr chart, there is a clear double bottom formation. I would enter a buy trade with SL below 130 on 1-hr chart and a target of 154.
A very interesting cup-n-handle trade setup is developing in BATAINDIA. The cup is already formed and the handle is currently in development with two possible lows for the handle: (1) around 1635 and (2) around 1600. The scenario (2) is more likely since this is the more frequent S/R level seen in several instances in the past 2 years, with a major support in...
DRREDDY has broken through the short-term resistance, after taking support at the long-term support line, which coincided with the 50-EMA. Target of 5700, with a closure below the stop-loss line as the stop-loss, could be on the cards.
ACC has been moving up strongly in a narrow channel and has risen almost 200% since March 2020. It has broken the long-term resistance line and moved up exponentially. The weekly RSI has reached an all-time high seen last 10 years ago. Some profit-taking could be seen in the weeks ahead and the price could fall to 2000-2050 zone before resuming the upmove.
DJI has reached a plateau with a clear negative divergence. It is unable to penetrate the new resistance line which earlier was a strong support line. A fall of another 500 to 550 points from now on is imminent. Thereafter, the index is likely to follow a divergent triangle pattern.
After about 22 trading sessions and 6 unsuccessful attempts, Nifty has finally broken through the resistance on a closing basis. 15630 remains a strong support in the short term, with targets of 16125 and 16300 before July expiry. I will look for every dip to buy into construction, midcap IT, select pharma and select financial stocks.
Shriram Transport Fin has formed a triple bottom along the trendline support. Previous 4 attempts to break through the resistane have failed. Any day the stock manages to close above 1515 should signal a further upmove towards 1625 in a short time.
1) Nifty has taken support at 26-day EMA in the last several sessions.
2) It made the highest closing ever, just two days ago, indicating overall bullishness in the market.
3) The candle stick patterns of the US market indices yesterday indicate that, even though they ended in red, all of them bounced off the day’s lows significantly.
4) HangSeng index is...
15-day EMA has acted as a strong support for Torrent Pharma. Today the price has again bounced off the 15 EMA with a small hammer pattern indicating bullish bias. The 4-day SMA is steadily moving above the 9-day SMA which is again a bullish indication. I will look for a very short term target of 3025.