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Infosys is been under lot of pressure lately. The double top has formed and it is close to it support levels at 950. The A/D indicator does not confirm the sharp move seen in the stock and the RSI is also close to 40. Recommend to watch this stock next few trading sessions. Long if it moves firmly above support levels with high volumes. Target 1040. Short if it...

Nar Updated 

Possible triple top formation for VEDL. I say possible because prices are still rising. I would advise keeping your stop loss at 270 levels to avoid any surprises with upward movement. Wait for price to fall below 242 levels before entering this position

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Bharat Forge weekly is showing a nice cup and handle formation. Buy can be triggered on the trade above the breakout level of 1100. Expected targets are 1330 and 1430.

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Tata Chemical is showing head a shoulders pattern. Expect downwards movement to 545 levels. This is also confirmed by the MACD falling below the signal line. The short term chart (thanks to Vanati) shows a descending triangle pattern with a dead cat bounce.

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Stock has shown a nice upward trend past several days followed by a correction event past three trading days. Spinning top is indicating some exhaustion from the bears, so expect a slight pullback. However the weekly charts paint a clearer picture depicting a shooting star formation with the high point of 1328 that is the edge of the 20 week moving average. So I...

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Look at my other post for more details

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Presents a great trade here. In the next week stock is likely to see a pullback to the 1320 levels as confirmed by the oversold indicators and bearish harami on the weekly charts. Also given its sharp run up a pull back is in the offing. Any dips below 1330 is a great opportunity to buy. There is a slight resistance at 1320 levels also. So this week good shorting...

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For almost three months Sun Pharma has remained range bound between 620 and 680 levels. The candle stick depicts a bearish engulfing pattern. This is confirmed by the gap up opening the day before and the length of the candle today. I am mildly bearish on the stock. I would recommend selling ITM call option (680 levels) and buying OTM call option (740 levels). My...

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We saw the bearish candle stick pattern, Dark cloud cover for Edelwiess. The recommendation was to short this stock . Today there was a tug between bulls and bears spinning top formation. In the end the stock has closed in positive territory. I missed the opportunity to buy at 138.40 early in the day (my offer was for 138.50). However, when I entered the bulls had...

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Inox wind has shown a classic descending triangle pattern. The stock has also been performing poorly vs. BSE 500. Despite the recently concluded bull run, the stock did not get any traction. The accum/Dist chart also confirms overall weakness. The stock may be on the way to its life time lows.

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This is a classic pattern that has formed with Edelwiess. This dark cloud cover pattern meets all the criteria that you would look for while trading such patterns. 1. The previous white candle body is long 2. There is a recent spike in volumes in the earlier trading ranges 3. The previous white candle has a gapped up opening 4. Stochastics are at an overbought...

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The stock is showing strong support at the 4080 levels. The current pattern shows a descending triangle, constantly testing this support level for the past 3 months. The descending triangle is showing exhaustion as indicated by the Accum/Distribution trend. The A/D is a leading indicator that takes into account volume aspect of the trade as well. One should expect...

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Technical indicator shows exhaustion of the Wave pattern. This is confirmed by the divergence shown between MACD and price indicator. Relative strength of the chart is also showing weakness. The volumes also have remained relatively flat with slight downward slope. All this confirms that the stock is a good candidate for shorting. Will confirm with the daily...

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Axis bank is excitingly poised for a trend reversal. This could happen at the 360 support levels or earlier. The stock is currently showing a bullish engulfing pattern on weekly chart. This stock has been range bound between 360 and 640 over the past 30 months. Will update once major indicators confirm trend reversals.

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Last time I touched on Vedanta for short term opportunity. The weekly chart is showing a classic pattern based on Dow theory. Clear consolidation phases and markup phases. Let's see if this holds up.

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Metal stocks have outperformed the sensex in the past year. The price of Vedanta has doubled in the past year and the stock is still showing strength. Recently the stock touched the yearly high of 240. Since the past few trading sessions the stock has dipped to 216 levels. This is a good price to enter this stock. The spinning top is indicative that the bear run...

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This time around the budget is more special than usual years, it is the budget after demonetisation and is coming one month earlier than usual. As seen in the chart and the green boxes the volatility usually peaks during the budget, this time we should expect no different. Another point is the strong negative correlation between the India Vix and Nifty. So good...

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Tesla has been moving steadily following a wave like pattern over the last three years. This involves rising wave followed by channel movement. The movement of the stock one direction or the other is very swift indicating high volatility of the stock. The weekly charts show a similar trend. The RSI is currently oversold and long term trends show a slow down in the...