PCJWELLERS looking good to go long above 400.50 Possible targets - 411, 425, 440
AJANTAPHARMA looking good to go Long above 1806. Target - 1830
WOCKPHARMA looks good to go Long at current level. SL : 707 Targets: 725, 730, 740
Relcapital has formed Rectangle channel. It is currently sitting on the resistance line. Long can be initiated with Green line as target.
TVSMOTOR is forming a Rectangle channel. Buy Above 392 Target 1 - 397
Hindalco has formed double top on closing basis on daily chart. Short can be initiated below the drawn support line in Red. Possible targets are drawn in Green line. It has also formed 'Weekly Bearish harami' and 'Three inside down' candlestick pattern.
ENGINEERS INDIA have broken its support line on daily chart. Also, its has formed 'Head and Shoulders' pattern. Though RSI looked oversold, but it is going to fall to level of around 139 in short term. Please comment, if you feel any change/addition to my view :)
Candlestick pattern, Chaikin Money flow and Williams %R suggests strong down move. Please trade with caution :D
Rectangle channel in Jetairways. Breakout will result in possible targets - 410, 415,424
Mahindra & Mahindra Ltd looks like a SHORT candidate from here. It has formed Double top and is on Support line. However, the other indicators suggests that it will break the support and can be shorted from here.
Dr Reddys Labs has formed a 'Descending triangle' and is hovering around support (2979.75). Can short it once breaks the support. Also, can see 'Head and Shoulders'. If it breaks from here, then 2925 looks feasible in few sessions.
Idea already touched 5 year low . Technical setup looks perfect but What next is a big question ?
Top Point Date 06/01/2017:14/12/2016:24/10/2016: Bottom Point Dates : 26/12/2016:21/11/2016
Breakdown from this level will activate Short in TataElxsi.