Power Grid on weekly charts has been trading in the Triangle pattern since almost a year and now is set to give a breakout above 228 for a tgt of 238- 240 and T2 - 246-248. SL to be placed below 215. MACD and ADX both are at great levels to support buy call in this share.
Biocon has been in a Downtrend since 2021 and may even still continue but according to the parallel channel it is trading in, it seems to have come to a good support. Also, it is al the lows of August - September 2019 which if broken could see more downfall toward 150 - 160 levels. A stop loss below 195 and target of T1 - 260 and T2 - 310 should be a good trade...
Indusind bank is trading above all moving averages on the daily time frame(20,50,100) and also has given a superb breakout on the monthly chart. Anything trading above 1190 should trigger a buy with SL below 1080 and Targets of 1450 and 1580!! This is a 1:3.5 ratio!!
Coal India has been trading in a parallel channel since almost a year now. It has come at its support which also happens to be the 50DMA on the weekly charts. Expect targets upto 150 and later 170. SL - closing below the channel on weekly basis.
Happy trading!!!
HUL(2204.75) has been moving in an up-trending channel pattern since 2018. At the current juncture, it is at its 50DMA(2196.35). One can go long for targets 2350 and 2560 in coming weeks.
HDFC is at it 200DMA and it has come to this level after a significantly long time. A potential breakout is expected on crossing 2530 levels with tgts 2650 and 2780. Wait for price to indicate the breakout!
BPCL has just started making higher Highs and Higher lows on the weekly chart and is a great Buy on any dips towards 420 levels with SL at 415 for targets till 535!!! It is moving in an up-trending channel pattern with MACD supporting the Bullish move.
