Uflex is making an inverted head and shoulder pattern. Closed near the neckline of the pattern today. Can be a good long trade above the resistance. Levels mentioned in chart. Follow strict risk management.
PSP projects gave a strong weekly closing with explosive volumes. Approaching a strong weekly trendline running since long. Can be a good potential swing long trade above 531 on closing basis. Follow a strict risk management.
Chola finance closed good above all time high level. Was trading in a range for a while and attempted on multiple time to break the resistance. Today it gave good closing above the resistance level. Can be good intraday as well as swing long opportunity in this. Please follow strict risk management.
Naukri moved more than 15% in last few sessions after it gave good breakout of a strong resistance with volumes recently. When a stock breaks out a strong resistance level with good volume specially after some consolidation near that resistance, it usually maintains its momentum for few trading sessions. Visit previous chart in the link below.
Fine organic has been consolidating at support for a while with dried up volumes and yesterday it gave good trendline breakout with good volume. Above 3100 level this can give a good swing long opportunity.
Previous trendline breakout followed by good volume buildup near resistance gave a good rally.
Follow strict risk management.
LTI chart followed the expected pattern beautifully. After a strong resistance breakout with volume it reached the target , which is the height of the broken range or the cup in a cup and handle pattern as mentioned in previous chart. Visit previous chart in the link below to understand the importance of support and resistance zone where buying and selling...
LTI gave nice move following a breakout of a strong resistance and almost reached a target (Height of the range or the cup in a cup and handle pattern ). Visit previous chart in the link below for understanding the importance of buying and selling zone and how a strong resistance once broken with good momentum can act as a future support zone.
Naukri closed strongly above daily resistance zone and gave highest closing with good volume. Good for intraday above 5800 and safer above 5880 which is all time high level. Follow strict risk management.
VBL has taken a good support at previously broken resistance and 61.8% retracement after previous rally. Closed at high in last trading session with relatively good volume. Can be good long intraday and swing trade above 810. Follow strict risk management.
Emami is trading in a channel pattern with good respect to both trend lines. Also closed at the previous weekly resistance. Can be good intraday as well as swing opportunity above 600 level. Follow strict risk management.
Laurus labs has given a breakout of trendline in hourly TF with good volumes. Also price has made a pattern of an inverted head & shoulder. Volume is also showing good build up in up move with relatively lesser volume during retracement. Looks good above 675, safer above 680 for intraday.
Follow proper risk management.
LTI chart has shown a very beautiful respect to areas of support and resistance. Many learning points in this chart.
1) Resistance area is the area where selling pressure takes over the buying and price retraces from there until and strong breakout happens with good volumes. Once this happens the same area act as a support.
2) Support area is the zone where...
ICICI bank is trading at its all time high levels. Formed a very good cup and handle pattern recently and closed at high of the day in last trading session.
Cup and handle pattern is a bullish price formation.
Four stages of pattern formation as originally described by its founder, William O'Neil, are described below:
1) Previous uptrend taking a stock to a new...
Copper is consolidating for a while at important resistance level. Also it is at a long running TL corresponding to 100 ema also. Lower TL has become a important buying zone in the past also. Closing above recent resistance can give good up move again.
Good price action for learning in this chart:
1) Beautiful respect to lower TL
2) Resistance level became the...
Birla soft has given a nice flag break out after consolidation, near 20EMA period, after recent rally. Today’s volume was also good and has closed near the high of day. Can be good intraday and swing opportunity in this.