INDUSINDBK on daily TF is forming higher lows for past few weeks but has not been able to close above 480 (day closing). 1. If it closes above 482 (daily) then it can see upward momentum. 2. Also if it trades above 495, then good move possible for intraday opportunities. Kindly note that I always believe "trend is friend" and never recommend trading against it....
Reliance has given break out in yesterday from ascending triangle and can be good pick for today for long today. Best possible case for entry : Reliance retraces to 1500 level in first few minute and then start moving up.
UBL has been trading in a range and has given closing below the rectangle. Below 870 tomorrow, can be good candidate for short.
M&M was given for long above 383.8 at 11:56AM today. Logic for trade was pennant or triangle formation and from previous behavior, it was high probable to give long breakout. Breakout did happen around 12:40 and from 383.8 it went till 403+ Book out was told at 403. See below chart at lower TF to explain more details. Also INFY was given for long which gave...
IBULHSGFIN was given for long today above 123.2 at 10:26AM. This was again simple trend line break out trade. I follow same process, try to find same patterns and trade them regularly. Keeping things simple and doing repeated stuff has brought me success. At times, we hit SL and this was the case today due to incorrect chart reading by me. I am sharing below both...
TORNTPHARMA was given for long at 10:54 AM for long above 2401. Logic for trade was simple trend line break out. Below is the lower TF analysis of breakdown of chart. I closed my position at 2425 but it went to make high of 2440 from 2401. Keeping chart simple, free from indicators provide you more focus and price is paramount & it discount everything. So wasting...
CIPLA was given to trade above 605.1 at 10:12 AM well before breakout based on simple trend line analysis. Below lower TF chart explains the logic and possible targets. I personally exited at 610.5 but many students waited longer and were rewarded. We also had other successful trades based on simple price action (no fancy indicator or complex chart - Grasim...
TCS was bullish today as it had ascending triangle pattern forming for past 1.5 months and was trying to break through. It had perfect closing yesterday for breakout. Look at the bottom charts at 5 min time frame (TF) where it was told to take buy trade at 1998 and then it gave easy 17-18 points (max move was 34 points but no one can capture end to end...
MFSL is forming ascending triangle on hourly TF. If breakout occurs abv 455, this can be good pick for long.
BAJFINANCE has been on massive decline for past few weeks and slowly building up one trend line respect. If this breaks 2115, then it can be good candidate for long
Marico has closed at bottom trend line of ST. This should be on watchlist for tomorrow for trade on either side depending on break down or breakout.
PVR is testing its low and if break 948, can be good candidate for short.
LUPIN along with rest of pharma counterparts is in uptrend. It has given closing at important level and it manages to close past 878 then next target is 914 in coming days.
MINDTREE has given breakout of mid term TL and above 788, looks good for long.
TATAMOTORS is forming H&S pattern on hourly TF. Once neck line is broken, can be good candidate for short.
HINDALCO is testing this important support line multiple times and it it breaches then can be good candidate for short below 102.5 My preferred trade on HINDALCO is short but depending on market outlook on Monday we can see it we should scalp for quick long trade.
BAJAJFINSV is forming perfect price action for another leg of down movement below 4328. Once broken, there is no major support.
NMDC has broken support line today and ready to continue its fall below 73.5