RBL Bank Buy. Triangle Support with 8 Consecutive red candles with lower than average volume . Strict SL at if price falls under 607 decisively. Overall chart looking good with ascending triangle formation with lifetime highs.
TCS today has given a breakout on a larger triangle & smaller triangle, post its results today. We expect the stock to take first resistance near its all-time high at 2275 levels. A confirmed breakout above that level can lead to 2742-3000 levels. NSE:TCS
MONTHLY IF NIFTY SHUTS BELOW 10545, IT WILL FORM A BEARISH ENGULFING PATTERN, HISTORICALLY ON LONGTERM CHARTS ALL BEARISH ENGULFING PATTERNS HAVE BEEN SUCCESSFUL. BEWARE OF ALL POSTIONS. IF NIFTY SHUTS ABOVE 10650 WE ARE IN SAFE ZONE.
IT HAS TAKEN SUPPORT ON THE BASE LINE OF THE TRIANGLE AND COULD INCH TO MOVE TOWARDS THE UPPER LINE. ALL INDICATORS SUCH AS CCI, MACD AND RSI ARE ON OVERSOLD ZONES AND A TECHNICAL PULLBACK FROM HERE COULD INCH IT TOWARDS 410 LEVELS AND A BREAKOUT FROM THE TRIANGLE CAN SHOW US A NEW RANGE.
AS WE CAN ALSO SEE AN UPWARD CONVERGENCE ON CCI & MACD HISTOGRAM WITH SHORT HAND ABOVE LINE ZERO & UPWARD CONVERGENCE ON RSI. THIS WILL GIVE A MOMENTUM UPWARDS.
*BE CAUTIOUS BEFORE TAKING ANY BIG TRADE AS ALL OSCILLATORS SHOWING OVER HEATED. USE STRICT SL OF 10690 FOR ANY TRADE.
AS WE CAN SEE IT HAS CREATED AN ENGULFING PATTERN IN THE DAILY CHART, CONFIRMING WITH HIGH VOLUME & CII, RSI CONVERGING DOWNWARDS FROM THEIR HIGH POINTS. HAVE A CORRECTIVE OUTLOOK TILL LEVELS OF 31.30-30.5