RajuDatla

RajuDatla

AMARARAJA ENERGY & MOBILITY (ARE_M) is breaking out from a 9-year consolidation on substantial relative volume. Its relative performance to the broader CNX500 index has been mostly positive since Nov 2022. The momentum indicator (RSI) has been travelling in the bullish territory after entering 60+ zone during Dec 2023. If the breakout sustains the stock can see...

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ZYDUSLIFE is at a critical stage testing the 50 DMA and RSI 40 levles. Will it hold the support? The technical structure on this daily chart indicates rather a dim picture, though we don’t have a clear confirmation. Its relative performance to CNX 500 has been poor since the beginning of April, 2024. On the momentum front RSI has been diverging from price rise...

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BANKNIFTY made a breakout from 99-day bullish Cup & Handle. During this 14-week period the RRG (Relative Rotation Graph) moved down from ‘improving quadrant’ to ‘lagging quadrant’ and then moved back into the ‘improving quadrant’, thus more or less mimicking the formation of the Cup & Handle. Will this be the beginning of a new uptrend in the Banknifty? The...

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On the Monthly scale GODREJPROP is trading near its Sep - Nov 2021 highs, & printing a large cup & handle pattern spanning over 2.5 years. A breakout from the pattern may potentially see some significant rally. Its momentum indicator, RSI, has been trading in the bull zone (above 60) since Nov’23, and its relative performance to CNX 500 has been rallying since...

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DLF breaks out to a new high as its momentum (RSI) breaks above 60 on about double average volume. There is also a volatility squeeze breakout (from GoNoGo charts, not available in TRADING VIEW). On the Monthly & Weekly charts too, the structure is quite bullish, and RSI has been trading above 60 for the last several months. However, price has been making new...

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CNX IT INDEX: has been in consolidation for the last over 15 months. For the last 10 months the index has been making Higher Lows & Higher Highs and is currently trading about 6% below its Pivot, about 39,500. Its relative performance to CNX 500 has been taking support near its mid Sep 2022 low. For the last 10 months the relative performance has been stuck in a...

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BIOCON has been making Lower Highs and Lower Lows for the last about 3years, on the weekly chart, as it dropped 60% between Dec 2020 high and March 2023 low. After that it made its first Higher Low during October 2023, and this week it broke its prior swing high thus making a Higher High. The latest move since March 2023 is also marked by volume support as the...

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TBZ – Weekly Scale - is breaking out from a 94-week base on 2 times average volume, as of now. It has been out performing the CNX 500 since mid-May; and its momentum indicator, RSI, also has been in the bullish zone, above 60. The breakout can potentially take the stock to levels of around 160. Only personal observation; No recommendation.

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SHANKARA – Weekly Scale - is breaking out from a 73-week base on god volume (2.5 times average; can be over 3 times by EoD tomorrow). Its relative performance to CNX 500 has turned positive; and its momentum indicator, RSI, also entered bullish zone, above 60. If the breakout sustains, an up move of about 30% from B/o level can be expected. Only personal ...

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APOLLOTYRE Q1 results seem to have disappointed the market badly. Price crashed over 8% yesterday after results were announced. However, the chart has been indicating some brewing problem in the counter since mid-July, that is more evident now, post facto though! RSI has been in negative divergence to price (as price was making higher highs, RSI was making lower...

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BANKNIFTY has started showing signs of weakness on daily chart. Since early June it has been developing into a Head & Shoulders (H&S) top pattern. A close below its prior low of 44279 can be taken as Confirmation of H&S top. H&S patterns are arguably the most reliable reversal patterns. If this pattern is confirmed and acts as expected, 2000 points to the downside...

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SYNGENE has been in an uptrend since Feb’23. However, since beginning of May’23 the uptrend has been marked by bearish divergence on the RSI. Traditional RSI theory preaches that a bearish divergence, particularly above 70 RSI level, can potentially reverse the trend to the down side. The case of SYNGEN defies that theory, even considering that Technical Analysis...

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BANKNIFTY is trading near a critical juncture now. As it is breaking down from a 6-day consolidation range, it is finding support on the up-trending line from mid-March 2023, when the current uptrend started. It is pertinent to note that it is the first breakdown from a consolidation (albeit just 6 days) since the beginning of the current uptrend. If BANKNIFTY...

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HERCULES HOISTS, a small-cap company (<1000 Cr) made a 50-day range breakout on over 5 times average volume (as of now). Fundamentals look good too. Only personal analysis. No recommendation.

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CNX AUTO INDEX made another Engulfing pattern at the High, away from the moving averages. On the prior two occasions when it made similar patterns price made minor corrections pulling back to 10 & 20 EMA respectively. The odds of probability look high for a similar correction again.

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CNXPHARMA Index – Weekly TF - is making a B/O from its 20 month long down-trend-line. The 10 and 20 MAs are aligned to the upside, and momentum is strong as RSI is in its Bull zone above 60, where it entered for the first time after the start of the down-trend-line. However, it is still underperforming the broader CNX 500 index. Looks good time to check quality...

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CARBORUNDUM UNIVERSAL, a Murugappa group company is making new breakout to new highs. Momentum as shown in RSI, and relative performance to broader CNX 500 index are strong. Volume also looks good. Jesse Livermore says “Go long when stocks reach a new high, sell short when they reach a new low.” Only personal analysis. No recommendation.

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NIFTY INFRA INDEX just made a breakout from its 85-week long base. Its relative performance to NIFTY 500 has been positive since March 2023, and the Moving Averages are aligned to the upside indicating bullish structure. Looks like time to focus on quality infra stocks. No recommendation. Only personal analysis.