BULLISHNESS IN THE SCRIP CAN BE CONSIDERED ONCE IT STARTS TRADING ABOVE 76. WAIT FOR THE Q2 RESULT AND THE E-VEHICLE FROM AP FACILITY ALONG WITH THE FUTURE ORDERS.
ONGC PRICE IS EXPECTED TO GO TO 145 & 150 IN THE COIMG DAYS. THE PRICE NEEDS TO TRADE BY OVERCOMING RESISTANCE AT 140. IT IS OBSERVED TO FOLLOW AN UPWARD CHANNEL. PLACING OF STOP LOSS CAN BE CONSIDERED AT 126. (PLS SEE THE JULY 14 POST).
LT SEEMS TO HAVE FORMED A RANGE OF 1435 - 1528. THE SHARE IS LIKELY TO MOVE IN THIS RANGE TILL THE RESULTS PROVIDES THE DIRECTION. IF THE LT SHARE MOVES ABOVE 1530, THEN THE TARGET OF 1700 CAN BE EXPECTED. WAIT FOR THE RESULTS (CONGRATULATIONS TO THOSE WHO WOULD HAVE BENEFITED FROM SEP 15 POST).
TATA STEEL IS PREPARED TO GO TO 400, ONCE IT CROSSES THE RESISTANCE AT 377. A ROUND BOTTOM FORMATION WITH NECK LINE AT 377 IS OBSERVED. LET THE SHARE TRADE ABOVE 377, THEN ONE MAY GO LONG FOR THE ABOVE MENTIONED TARGET. STOP LOSS CAN BE HAD AT 355.
NIFTY MET RESISTANCE AT 11,600. CROSSING OF THIS LEVEL IS ESSENTIAL FOR TARGET OF 11,750 IN THE COMING WEEKS. 11,386 SHOULD ACT AS GOOD SUPPORT.
THE 15M CHART IS BEARISH AND THE RATE CAN REACH 70.7. SHORT WITH A STOP LOSS PLACED 70.8 IN THE REGION OF 70.75 AND 70.8.
RIL IS NEARING THE NECKLINE AT 1305 (AS MENTIONED EARLIER). TODAY IT HAD CLOSED ABOVE THE DOJI OF YESTERDAY. ONCE IT CROSSES 1305 THEN 1329 AND 1375 ARE THE NEXT TARGETS.
YES BANK IS MOVING IN THE WEDGE FORMATION. THE PRICE IS EXPECTED TO MOVE TO 75. WITH STOP LOSS PLACED AT 58, ONE MAY GO LONG FOR TARGET 75.
AS MENTIONED IN THE PREVIOUS POSTS, THE 15M & HOUR CHART TARGETS ACHIEVED. AT PRESENT, THE CHART HAS A TENDENCY TO GO UP TO 71.35 FROM THE PRESENT LEVEL. PLACE STOP LOSS AT YOUR COMFORT LEVEL.
BN HAD FORMED DOUBLE BOTTOM AT 27050 LVL. AS THERE IS A CLAMP IN THE KUMO, THE INDEX IS EXPECTED TO BOUNCE BACK TO 28000 LVL. BUT, OTHER PARAMETERS INDICATE A FALL. IF 27000 IS BREACHED , THEN DOWN SIDE TARGET CAN BE PLACED AT 26700.
NIFTY 50 HAS A DOUBLE BOTTOM ON THE SUCCESSIVE TWO DAYS AT 10800 LVL. IF THIS IS BROKEN, THEN IT MAY GO TO 10650 LVL. IF IT BOUNCES BACK, THEN 11000 IS THE TARGET ON THE HIGHER SIDE. WAIT FOR CLEAR DIRECTION.
YES BANK HAS A WEDGE SHAPE FORMED AT THE DOWNWARD LEVEL. ONCE, THE PRICE BREAKS 67 LEVEL, THEN EXPECT THE PRICE TO REACH THE LEVELS OF 75 & 80.
HLL IS NEAR THE 50% RETRACEMENT LEVEL AT 1800. THE SCRIP PRICE SHOULD BE ABLE TO CROSS PREVIOUS HIGH AND REACH NEW HIGH AT 2000. THE DELIVERY HAD INCREASED TO 12 L FROM AN AVG OF 9 L OVER THE LAST WEEK WHEN THE PRICES WERE DECREASING. THE DELIVERY % STANDS AT 55%. IF IT GOES DOWN TO 1773 ONE MAY ENTER FOR GOOD GAINS AT BARGAIN PRICE.
NIFTY INDEX IS NEAR THE NECK LINE PLACED AT 11113 (TARGET AS POSTED EARLIER). IF IT CROSSES 11113, THEN 11300 IS THE TARGET. WILL FM'S RELIEF MEASURES WORK UPSIDE (OR) ALTICO ISSUE ON BANKS WORK DOWN SIDE??
"W" SHAPE FORMED AT THE LOWER LEVEL. THE NECK LINE AT 1365 WAS CROSSED. THE PRICE HAD REACTED AFTER REACHING 1380. AGAIN, THE SHARE PRICE WILL TRY TO CROSS 1380 AND REACH 1400. IF IT TRADES ABOVE 1400, THEN 1450 IS THE NEXT TARGET.
HEG IS OBSERVED TO HAVE FORMED A ROUNDING BOTTOM. IF THE RESISTANCE AT 1235 IS CROSSED, THEN THE NEXT MAJOR RESISTANCE IS AT 1400 & 1550. LET THE RESISTANCE BE CROSSED, AS THE SHARE PRICE HAD APPRECIATED BY NEARLY 20% IN SHORT TIME.
HDFC HAS A SELL SIGNAL IN THE BEARISH ZONE. WITH A STOP LOSS AT 2115-2120, ONE MAY CONSIDER SHORT FOR TARGETS OF 1950 & 1900.
HDFC BANK IS FORMING AN INVERTED H&S WITH NECK LINE AT 2275. IF IT TRADES ABOVE THIS LEVEL, THEN NEXT TARGETS ARE 2300 / 2320. IF THERE IS REACTION DUE TO ALTICO EPISODE (EXPOSURE TO HDFC Bank has the maximum exposure at Rs 500 crore), THEN THE SUPPORT SHOULD EMERGE AT 2200.