Sumanyu_Aggarwal

Sumanyu_Aggarwal

PIDILITIND near a 12 year old trendline. Price has been consolidating in the range of 2200 to 2600 around the trend line now for almost 2 years. Usually long consolidations lead to short strong trends. Hence it is at a important positions to study business from various other perspectives including fundamental analysis and cycle analysis.

Sumanyu_Aggarwal

KOTAKBANK has been trading in the range of 1700-1900 for more than 2 years. It also has followed a trendline for 12 years, which is now broken. Because of this long consolidation, the next trend will be very strong. Although different banks are showing different trends. For example HDFCBANK is for bullish patterns. Hence we have to be very careful in the whole...

Sumanyu_Aggarwal

HDFCBANK has been consolidating from 3.5 years in the range of 1200-1600. The price has formed a triangle pattern and it has been formed on the base of a long term trend line. Stock has been moving along a 20 year old trendline. When the price breaks out it will lead to a strong trend as many factors are playing around.

Sumanyu_Aggarwal

HAVELLS is near a 18 year old trend line on a monthly char and on a log chart. Overall it has been consolidating in the range of 980-1275 for 2 years. Hence when it breaks or bounces from trendline, both will start a new strong trend.

Sumanyu_Aggarwal

TATACONSUM has formed a flag and pole pattern. It is a 4 year old pattern and it is now consolidating 675-835. It could either break out or break down anytime and start a new trend. Hence it could be on the monthly watchlist.

Sumanyu_Aggarwal

It broke out of a triangle pattern in Dec 2022 and bounced from its long term trendline. It is moving along a 9 year old trendline. Stocks like SUNPHARMA, ZYDUSLIFE and CIPLA are technically showing the same trend. Hence it is important to study the whole sector now.

Sumanyu_Aggarwal

On a monthly chart CIPLA formed a triangle pattern. It broke out in May 2020. Similarly SUNPHARMA is also near breakout. Is CIPLA showing the future of the Pharma sector. It is a big question. ABBOTINDIA is also bouncing from a long term trend line. Hence the Pharma sector could remain in focus.

Sumanyu_Aggarwal Updated 

Chart is forming an upward channel on a 15 min time frame. For now it is just consolidating. It can be kept on radar.

Sumanyu_Aggarwal

Emami topped in 2015, i.e. it made a top of Rs 628.5 in Aug 2015. The price never crossed it. Now seeing the chart we can see price falls whenever price enters the range of 590-700. Observing other stocks, we are seeing similar trends. Which indicates that the trend line could also break soon. Hence it can be the sector to study.

Sumanyu_Aggarwal

Crompton has been moving in an upward trend since 2017. It has formed an upward trendline which is not yet broken. It went below it during covid low but eventually closed above it. Now again it is near it. Overall many stocks on similar sectors are showing the same patterns.

Sumanyu_Aggarwal

It broke an 11 year trend line in Nov 2019. Similar things are happening in DMART, PGHH and COLPAL. As in a sector there are stocks which top first and some take time. It could be that GILLETTE topped in 2020 and others could be starting now.

Sumanyu_Aggarwal Updated 

It is a 15 min chart. Price is forming a triangle pattern but is yet to give a breakout.

Sumanyu_Aggarwal Updated 

Price is a triple top pattern with a top of 1240-1250. With reference to option chain 1240 CE of 25 Jan expiry is trading at Rs 30 with highest open interest. It means 1240+30=1270 is an important level. Hence it is at a crucial level.

Sumanyu_Aggarwal Updated 

Price has been trading in a downward channel since mid November. It is now consolidating on the upper range of the channel. From the top of the channel price has fallen 12%.

Sumanyu_Aggarwal Updated 

It is rising very quickly but can face a resistance as it is near forming a double top pattern at 2210 levels. Although it seems that it will break out.

Sumanyu_Aggarwal

Price has formed a rising wedge pattern in the last 14 years, which is now breaking down. It is yet to give a monthly closing to give a breakdown. But overall it is important to analyse stock both technically and fundamentally. Not only COLPAL, DMART and PGHH are all showing the same behaviour technically. Hence the whole sector can be at an important point.

Sumanyu_Aggarwal

PGHH has formed an upward trend line on a log chart. Price touched it 6 times and every time it bounced from it. Situation now is different. Currently it has been consolidating near 13800 for almost 2 years. Hence this time it did not bounce from the trend line. It shows some signs of weakness. This means it has a neutral opinion based on chart patterns. Hence it...

Sumanyu_Aggarwal

Price broke the trendline in June 2022 but next month closed above it. Thus the power of the trend line got weak. Hence in Nov 2022 it broke down again and since then it is trading below it. In summary it is important for all the investors of DMART to analyse your positions.