COALINDIA price action has been very negative for almost 2 years now. But now it is at a major support level band of 240-245. It took this support 3 times earlier within last 7 years and bounced back. Will it be luck this time as well. If it bounces back from this level, then a long can be initiated and it these support levels breaks, one can enter a short. Will ...
HINDALCO has hit multiple tops at 200-205 band level. And now it broke the Ascending Trendline. If the price closes below the trendline today, it can be shorted tomorrow based on the price action of tomorrow.
JETAIRWAYS on the verge of the breakout at its previous support & resistance level of 550-555. If it close above 555 & confirmed by another close above 555, then i'm going long. It can go upto 660. Watching it carefully.
Axis Bank is near its 200DMA & 100 DMA. If it takes support at these levels & breaks out above the 530 resistance, then we see a huge upside, going all the way to 640. If not it can breakout on the downside at 480 & go towards its previous lows of 430 & 380. Watch out for this set-up. No trades at the moment.
DLF - 170-180 band has a long history. This crucial area is a make or break for DLF. If the price breaks 170 on the downside, flood gates will open for more downside and price above 180 will take it above 200 again. Watch for these two crucial price levels.
UPL price action is now at a unique position. On one hand it is at all time highs trying to breakout above 720 but also formed a bearish AB=CD harmonic pattern.
Which one will prevail?
Breakout - if price closes above 720 & sustain further
Fakeout - If price closes below 720
Let's wait and see price action & see if we can enter Long or Short.
ARVIND attempting to breakout above 365 for the second time after failing the first time. If ARVIND closes above 365 & next day is confirmed by another green candle, then one can enter long to take advantage of a breakout.
If ARVIND fails to breakout above 365, then one can enter a short.
Keep watching the stock for the price action.