Kesari-Bath

Kesari-Bath Updated 

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.

Kesari-Bath Updated 

SHREECEM has taken strong support at 20-EMA. I would buy (14:00 hrs now) at 28550 for 2% profit aqt 29125, with SL as 15-min candle closure below 28300.

Kesari-Bath Updated 

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.

Kesari-Bath Updated 

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.

Kesari-Bath Updated 

The texts on the chart are self-explanatory. I will look for a target of 3620.

Kesari-Bath

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.

Kesari-Bath

Long and short term averages are nicely separated and expanding upwards. Fisher has just turned bullish again. INR is headed towards 75.60.

Kesari-Bath

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.

Kesari-Bath Updated 

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...

Kesari-Bath

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.

Kesari-Bath Updated 

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.

Kesari-Bath Updated 

After a strong upmove with a bullish engulfing candle on 21st June, IRCTC pulled back to 50% of its upmove (1), and has today turned bullish with 4 MA making a definitive cross above 9 MA, signalling start of a fresh upmove. I will look for a target of 2220 in the coming few sessions. I will keep a SL below 2050 on a closing basis.

Kesari-Bath Updated 

Resistance broken and retested. Levels on the chart

Kesari-Bath Updated 

After taking support near 50 EMA (1), ALKEM started moving up. After a minor pullback for 2 days, it has started moving up again. Look for targets of 3210, 3255, and 3310 in the next few trading sessions.

Kesari-Bath Updated 

After breaking the resistance at 735, it has taken support at an important Fibonacchi level and has started moving up again. The long-term and short-term averages are nicely separated and moving up. Levels on the chart.

Kesari-Bath

Escorts has bounced off an important trendline support, and has broken through a short-term resistance. I will look for 1280 in the next few sessions. Also, I will keep an eye on dips before the next results day (last week of July?) for buying opportunities. In my opinion, the stock should go up significantly (upwards of 1350) after results.

Kesari-Bath

TVSMOTOR has started moving up after a 50% retracement (1) of the recent move. Short term target 645.

Kesari-Bath

It looks like HSI is coming out of several weeks of sideways consolidation. A close above 29175 today could propel the index towards 30850 in the next couple of weeks.