Simplecharttraders

Simplecharttraders

Asian Paints, the stock is moving in an up-sloping channel on the daily chart. Stock is now very well placed about all its short-term, long-term moving averages. Almost four-five days consolidation breakout is already there on the chart. Long built-up is there on derivative data. So that Asian Paints can continue furthermore upside towards the 3400-3440 kind of level.

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If you look at weekly charts, daily charts and even the monthly charts, the structure is extremely positive. On a very immediate basis, this stock can go towards the level of Rs 240-245. Once it gives a weekly close above 245, there will be a further breakout of four years, four-and-a-half years for internal breakout. In that case, it can even head towards levels...

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ICICI Bank is on the cusp of giving that monthly breakout. Last two to three months, the stock was constantly facing resistance around 1000-1010. It has finally broken above that level. I think it is going to lead a fresh rally from current levels. Keep a stop loss of 990. You can see targets of 1040, and 1060 plus levels coming in the few coming days

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The stock has broken out of a consolidation pattern on the daily chart, suggesting increased optimism. On the daily chart the stock is hovering within a broadening wedge. Additionally, it remains above the critical moving averages, further indicating an uptrend. In the short term, the stock may reach 110 as long as it stays above 90.

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On the technical charts, the stock has given a breakout above the ₹1,300 zone and the indicates bullish candle pattern. The stock with a series of higher bottom formation patterns visible on the daily chart in the past 5-6 months, has given a breakout above the ₹1,300 zone, picking up from the support level of ₹1,160 of the significant 50EMA zone, to indicate a...

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Kotak bank recently started to make base formation on the daily chart and also changed the down trend with ending downward slopping channel confirming the bullish momentum in the scrip. The scrip has visible support at the level of 1700-1710, where base formation is being created, hence, initiate position on this scrip for the target of 1850-60 and place strict SL at 1700.

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Tata steel has crossed recently its 21 EMA with decent volume on daily chart. It seems correction is over on this counter testing low around 122, hence, one can consider this scrip adding for the target of 140-145 for short term. keep SL at 122.

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Lupin has its 4th attempt on the resistance with rising ascending triangle and breaking ascending channel which is a good amen for the bulls of this scrip, furthermore, MACD line crossing its signal line giving strengths to the scrip. Hence, one can add this stock to watchlist.

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TATA consumer attempt to breakout with huge volume is a good sign of bullishness of the scrip. Moreover, MACD indicator showing strong trend in this scrip. Hence, one can buy at this level for the target of 1020-50 place strict SL at 880-885.

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Sun pharma has been consolidating after good runup up to 1160 from its low around 950. MACD is showing now good strength as MACD line about to cross its signal line, moreover scrip is trading above its 21 EMA on daily chart which further indicating bullishness in this stock, hence, more risk appetite traders can initiate adding this stock for the target of 1230-40...

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IndusInd bank parallel channel breakout attempt with decent volume make this scrip a perfect buying candidate for short term. Buy this scrip for short term for the target of 1520-30 and keep 1390-95.

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HDFC AMC attempt to breakout from its resistance indicates buying interest in this scrip, This stock is trying to break its resistance with high volume, hence, once its cross its resistance at 2720-2730 level on can consider for the the target of 2850-2880 place strict SL at 2650.

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DLF has given a clear breakout from its recent consolidation moreover now scrip is trading above its all moving averages which is good indication of bullishness of this stock, hence, one can initiate buying on this scrip with the target of 610-20 and placing SL at 520-525.

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Bajaj finance classic double bottom pattern and attempt to break its resistance multiple times making this scrip a perfect candidate for adding. Hence, one can trade on this scrip for the target of 10000 and keep SL at 7460.

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SBI attempt to symmetrical triangle breakout confirmed with high volume, moreover scrip is trading above its EMA 21 which is a positive sign for the uptrend, hence, it is advised to initiate position in this stock with the initial target of 620-625 and keep SL at 580-585.

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Balakrishnan Industries attempts to breakout from its ascending channel on daily chart. This scrip is attempting to break its resistance 4th time on the daily chart with high volume, hence, looking promising. So, one can initiate position in this scrip for the target of 2720-2725 only when stock going to break the level of 2780-85. Keep strong Stop loss at...

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TATAMOTOR is trying to attempt break its previous high and resistance with decent volume, hence, one should buy at this level once the scrip break the price range of 650-655 for the target of 720-730 and place stop loss at 600.

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Coal India Making higher high from 230 level and it has now been consolidating from past few days on the daily chart making classic flag pattern, hence, one should buy at level of 280 for the target of 330 and place strict SL at 270.