Trying to analyze Bata on P & F chart, and it gave a nice Buy signal out of Triple- Top and also an Inverted Head & Shoulder pattern. If by close it holds the breakout, then stock could retest previous highs.
The stock gave a gap up three days back and help on the gap which now working as support. The stock is expected to test previous highs and GAP should act as support, any pull back should be using as buying oppurtunity
For the second time since 18th July ITC is trying to move above 50 day EMA and this time positive RSI divergence is indicating that ITC may try to reach 290 - 295 levels. A close above 50 EMA would be a confirmation.
ON DAILY CHARTS DHFL LOOKS QUITE INTERESTING, A PROBABLE HEAD AND SHOULDER PATTERN AND A BULLISH FLAG. I DON'T KNOW WHICH ONE OF THESE TWO WILL GIVE BREAKOUT, SO LET DHFL TELL ME FIRST THEN I WOULD GO WITH THE FLOW
When I see Nifty weekly from 2009, a channel is observed with moves hitting upper trendline and then coming back to take support on down trend line. As we see past to guess (not predict) what can happen in future, this channel might be useful.