PranamGhagare

PranamGhagare

Mahindra & Mahindra is in a descending channel at a double bottom structure at a weekly support zone. The RSI suggests a positive divergence. Target 1 - 566. Traders can maintain a stoploss of 540 Traders can look for further targets after 566 levels have been broken.

PranamGhagare Updated 

After a strong move to the downside, SBI seems to be in a correction bear flag pattern. Traders can look for selling opportunities after the trendline has been broken which is the 341.05 level. If the price goes up in the 346-348 zone, which is marked on the chart, traders can look for strong rejections and reversal candle patterns to initiate the trade. Target 1...

PranamGhagare

Bata is in a correction phase after a strong move to the downside. It has developed a rising bear flag formation as seen in the chart above. Traders can look for selling opportunities after the trendline of this bear flag has been broken to the downside which is 1305. Target - 1253

PranamGhagare

Lt is in a falling wedge pattern which is at an important daily trendline. Traders can look to go long after the wedge has been broken to the upside at 1402.50. Target 1 - 1432 Target 2 - 1465 Target 3 - 1538

PranamGhagare Updated 

After a strong move down, tatamotors is in a correction phase. We are able to see small candles on the 60min chart suggesting to us that this is a correction formed. There is not strong support for the stock till the 150 level. Traders can sell after the break of the correction which is at 155.40. Traders should look for targets of 153 and 150.

PranamGhagare Updated 

LT is in a clear falling wedge formation which is a reversal pattern and can break to the upside at any time. Traders should go long after 1422 levels are broken. If 1388 has is broken down then no trade Target 1 - 1471 Target 2 - 1514 Target 3 - 1538

PranamGhagare Updated 

Nifty was in a negative ascending channel for a long time after a previous impulse to the downside. On Friday Nifty broke the ascending channel to the downside with a strong bearish daily candle. The ascending channel has completed 3 touches indicating completion of the pattern. The first major support after this break can be 11100 levels as seen in the chart. If...

PranamGhagare

This is a pennant formation on the 60min chart. It has clearly rejected price at 269 levels. Very strong bearish candles at these areas suggest that more downside movement can occur. Traders can go short at the trendline break at 262.55 level. Targets are mentioned clearly on the chart.

PranamGhagare Updated 

Jindal Steel is in a descending channel and had a falling wedge formation at the bottom third touch which broke to the upside. After the break of the falling wedge, there was a bull flag correction formation which broke to the upside on Monday. This can indicate a further trend in an upward direction. Traders are advised to go long only after 144.50 levels are...

PranamGhagare Updated 

BPCL has just broken the ascending channel to the downside and is potentially forming a bear flag pattern to continue its downward trend. There can be a short term pullback rally till 356-362 levels before it can continue its trend downward. Traders should observe these zones for potential rejections or candlestick patterns. The first zone as marked in the chart...