The stock has been trending on the upside all along and is well above all moving averages. Needs to break the trend line at the top and move to the next phase of consolidation. Possible selling at the top before the next upmove.
ICICI BANK is at the crucial zone of support and once it crosses 711 on closing basis on daily, it will give a fresh up move towards 730, 750.
Results coming up in a couple of weeks will hopefully provide more momentum.
Stock is moving in the channel and this is right now in pullback model towards its previous breakout at the mid point of the channel. A likely bounce possible at this level and we could see the movement up more decisively this time.
Targets on upside is 2800, 3000. SL 2500
Attempted breakout from a descending channel with decent volumes on Thursday and Friday slid below it. Might see a bit of consolidation again before making another up move. NBFC's are in the game and should help in movements. Will enter long above 91 for a target of 100. SL at 86.
Federal Bank has a strong support at 78 and since April 21, when there was breakout above the FIB 78.6% level of 76, it hasn't ever retested it. However, the stock being in a short range of 10 bucks, will have to play by the day and on shorter timeframes.
Volumes are generally high in this counter and provides ample trading opportunities. I personally will go by...
After hitting a lifetime high, it hasn't attempted again and this suggest there is a lot of selling pressure at the top. 3 weeks of downward movement and all indicators have turned bearish.
Will short at the current levels for a medium term target of 650. View will be negated if weekly candle opens in green.
Taking trend line support and is at 23.6% retracement levels from its previous swing lows and highs. A bounce from this level will trigger an up move and any breakdown will weaken it further. Its a wait and watch for any trade to be initiated.
FNO Data shows short covering and if there is a follow through action on the same, then expect to go long here.
Axis bank has tried multiple times to break its high and retraced. Will be range bound until volumes pick up and Daily RSI goes above 55 levels. Wait and watch strategy to attempt any trade. An Iron Condor Optons strategy if at all to trade can be used.
5 month making lower lows and still looks weak. attempting to find a base now. Can go as low as 630 levels before attempting to retrace its journey upward. Fundamentally, high percentage of promoter pledge is a concern.
The weekly chart shows trend line support and in the previous marked areas, the stock has moved similar price levels in same timelines. Will wait for a trade based on the weekly open. Either long or short. Bullish still though on longer timeframes
After breaking out of inverse HNS pattern and retesting, the stock is moving towards its next FIB targets of 805 and possible levels of ATH. Auto sector and the focus on EV will add momentum to the stock movement as well.