RajuDatla

RajuDatla

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.

RajuDatla

BPCL Weekly scale: one-year long base breakout, as price started trading above its VWAP anchored from the high of Sep 2021. Technically 15% to 20% upside potential is indicative. Momentum indicators and Relative performance to CNX 500 are positive. Only personal analysis. No recommendation.

RajuDatla

COROMANDEL INTERNATIONAL weekly scale – double bottom B/O. A = bottom 1 B = pullback high C = bottom 2 D = down trendline B/O E = double bottom confirmation; B/O above the pullback high between the 2 bottoms. Also see the squeeze between the 2 VWAPs, anchored from the high of Aug 2022, and the covid low of Mar 2020, that is resolved to the upside. The AVWAP...

RajuDatla

INDIAN HOTEL is making a 7-month consolidation B/O to its lifetime high, in its continuing bull run since May 2020. Since late April 2021 its 40-week MA has been acting as support including the latest consolidation low. Its RSI also entered bull zone above 60. We can expect some good rally in the counter. Only personal analysis. No recommendation.

RajuDatla

BDL (WEEKLY SCLAE) is braking out from a 6-month consolidation, & making new lifetime high. During the consolidation it took support on its 200 DMA as well as the AVWAP from its prior consolidation B/O during Feb’22. The momentum indicator, RSI, also entered the bull zone above 60. If the B/O sustains and volume expands the counter can see some good rally in the...

RajuDatla

BHEL - after starting its slide down from early Dec 2022, is making its first Higher-High above 80. The RSI is also strong in the bull zone >60, as the moving averages aligned to the uptrend. Only personal analysis. No recommendation.

RajuDatla

NIFTY METAL INDEX is coming out of a 2-month consolidation, and its RSI (momentum) has entered bullish zone above 60. Looks time to track metal stocks. Hindalco, Jindal Steel, JSWSTEEL, MOIL, & Welcorp are also breaking out from small consolidations, and RSI entered into bull zone above 60. Only personal analysis. No recommendation.

RajuDatla

NESTLE INDIA, weekly scale, broke out from a 20-month consolidation to new all-time high. Its Relative Performance to CNX 500 (RS Line) made a 52-week high as well. Momentum indicators, RSI & DMI/ADX are indicting strength in the trend. Looks poised for some good rally ahead. Only personal analysis. No recommendation.

RajuDatla

INFY - Average buyer from the lows of Covid (Mar 2020) is losing money for the first time as today price breached & is trading below the Volume Weighted Average Price (VWAP - 1290.65) since that low. Surely, that is not good for the stock despite a bullish candle close, on a huge gap-down. Only personal analysis. No recommendation.

RajuDatla

RSI is a versatile momentum indicator that tracks price trends as well as sideways consolidations, and gives trend change signals at or about the right times. Here a standard 14 period RSI is used to identify trend change from Stage-1 consolidation (accumulation) to Stage-2 rally (Markup) on the 15-minute NIFTY 50 chart. RSI bear-zone resistance is red horizontal...

RajuDatla

DIXON TECHNOLOGIES broke down from its 2-year long Head & Shoulders Top pattern indicating extreme bearishness. This pattern breakdown has potential for substantial lows from current levels. Only personal analysis. No recommendation.

RajuDatla

HDFC has been in a Megaphone trend-less sideways range for the last about two-and-half months. A breakout either side can see some some sharp move. Only personal analysis. No recommendation.

RajuDatla

HDFCBANK has been in a Megaphone trend-less sideways range for the last about two-and-half months. A breakout either side can see some some sharp move. Only personal analysis. No recommendation.

RajuDatla

CNX IT Index is near a critical area on the chart, testing a 6-month long resistance line as well as testing the 200 DMA resistance. On the momentum too, RSI is testing resistance of its prior high of Aug and has formed a minor divergence at the current high. The Aug high was made following a 2 month long bullish divergence on the RSI, & hence can be treated more...

RajuDatla

ULTRACEMCO – Intermediate-term structure iN consolidation (possible Bullish H&S, Right shoulder in formation). Short-term structure is bearish, & a bear flag broke down. Though the flag measured move is about 5300, possible support around 5700-5650 can be initial profit book level. Downtrend on this daily scale will be confirmed below 6000, as Lower-Low after a...

RajuDatla

ABBOTTINDIA – seems to have completed its 170-day basing pattern (from the time it breached its 200 DMA during Jan 2022) as it broke out from a 42-day tight consolidation on about 3 times the average volume. The consolidation breakout is also a strong breakout simultaneously above its 200 DMA, and the AVWAP from its all-time high during early Oct 2021. Since...

RajuDatla

NIFTY AVWAP from the break away gap from pre-Covid high has been acting as support since Nov 2020 and that support was breached early this month and is acting as resistance now. VWAP anchored from March 2020 low looks to be the next support as of now.

RajuDatla

HCLTECH made a strong breakout from its about 2 month long Head & Shoulders Bottom pattern, on strong volume. On the momentum side RSI entered bull zone above 60 and +DMI turned dominant as it moved above 25 and making a new high above the prior peak of its other cousin, the -DMI. Looks bullish days ahead in the counter