A long awaited move has been given in Mindtree after weeks f box consolidation on an area of confluence and a push off has been given, making this a high probabilistic trade due to the favourable risk to reward ratio and various confluences present such as 1. Volume dry up on consolidation 2. Above Average Volume Breakout 3. Consolidation on a long term trend...
Nykaa has broken past its symmetrical triangle pattern but is still ' guarded ' by a box consolidation which provides higher confluence and a break from this can take Nykaa to a new zone with very little stoppage till 1876. Patience is Key. Keep It Simple
The very anticipated stop has come near previous breakout high and the market has been in quite a standstill which opens an opportunity on the break of resistance Level for a target of 507. Stop loss 4-5% below buy point. Keep It Simple
Dr reddy is giving buyers a second chance if it decides to breakout again on above average volume and could see the targets marked T1 and T2. T1 and T2 are based on recent breakout high and next area of value. Stop loss should be below the build up area of consolidation. Keep It Simple
Jubilant Foodworks has formed a beautiful Head and Shoulders with a pullback and a buildup with dried up volume giving many confluences and a very favourable long trade on a breakout with high volume. Target: 683 which is the next area of value Stop loss: 548 Keep It Simple
HDFC FIN may be ready for a move after consolidating under a resistance level for 90+ days and has given a v shaped shakedown setting sort of a bear trap. A breakout on high volume opens up a ew zone and targets T1 and T2 can be hit. Keep It Simple
Cipla has shown great bullish momentum and wonderful price action, with the quarterly results being announced o 29th July, the stock can make a hue move up to the latest high. Stop loss: 949.65