L&T IS AT THE SUPPORT LEVEL OF 1347. KEEPING 1325 AS STOP LOSS ONE MAY CONSIDER ENTERING THE STOCK FOR PRICE LEVEL OF 1450. KEEP AN EYE ON THE TREND LINE AND PRICE.
RIL HAS HIGHER HIGH AND HIGHER LOW FOR THE LAST TWO DAYS. VOLUMES ARE INCREASING EACH DAY. THE SHARE PRICE SHOULD GO UP TO 1248 VIA. RESISTANCES AT 1204 AND 1221.
NCC REACTED AS FORESEEN IN THE EARLIER POSTS. NOW IT IS GETTING SUPPORT. A BULLISH FLAG IS FORMED. IF THE PRICE CROSSES THE 74 LVL, THE PRICE WILL GO UP TO 80 IN THE COMING DAYS.
YES BANK HAS A DOJI FORMED EVERY DAY. TWO SCENARIOS EMERGE FROM THE PATTERN THAT IS OBSERVED IN DAY CHART: 1. AN INVERTED H&S SHOULDER WITH A NECK LINE AT 103. 96 WILL FORM AS THE RESISTANCE ON ITS WAY. 2. IF THE PRICE DROPS BELOW 83, THEN EXPECT THE STOCK GOING DOWN TO 60 LVL (AS MENTIONED IN ONE THE POSTS). ANY WAY, WAIT FOR CLEAR SIGNALS.
"DOJI" IS FORMED TODAY WITH A HIGH OF 698/9 AND A LOW OF 682. BREAK ON THE EITHER SIDE PROVIDES THE DIRECTION FOR TRADING. FROM THE DAY CHART, IT IS MULTIPLE BOTTOMS OBSERVED. FUTURE CLOUD IS BULLISH WITH A KUMO TWIST. WILL IT FORM THE REST OF THE INVERTED H&S PATTERN?
HDFC IS ANOTHER INDEX MOVER WHICH IS ABOUT TO REVERSE WITHIN A DAY OR TWO. IT HAS TAKEN SUPPORT AT 2070. PRICE TARGET MAY BE PLACED AT 2163 / 2200. STOP LOSS MAY BE KEPT AT 2048.
AS MENTIONED IN MY PREVIOUS POST, TITAN HAD REACHED 1065. TODAY CLOSE IS LOW THAN THE GRAVESTONE DOJI OF DAY BEFORE. EXPECT THE PRICE TO REACH 1056 ALSO.
AS FORESEEN NIFTY CAME UP TO 10881 (PL SEE YESTERDAY POST). FROM THE LOW IT HAD SHOT BACK TO CLOSE AT 10980. A HAMMER FORMATION IS OBSERVED AT THE BOTTOM OF THE DOWN TREND. NEXT LEVEL SHOULD SEE 11077 / 11177 & 11210.
ANOTHER PHARMA SCRIP COMING ONTO THE SCREEN FOR BUY. LET THE SHARE TRADE ABOVE THE RESISTANCE LEVEL, THEN ONE MAY ENTER FOR TARGET OF 1046 IN THE COMING DAYS.
TARGET OF 2200 WAS ACHIEVED IN TCS AS PER POST ON 29TH JULY. IT IS OBSERVED THAT TCS IS A SELL FOR TARGET OF 2065 LVL IN THE COMING DAYS. UNLESS UNTIL THE PRICE MOVES BEYOND 2250 BUYING IS NOT SUGGESTED. IT IS BETTER TO GO SHORT WITH TARGETS OF 2146 / 2107 AND 2065. STOP LOSS CAN BE PLACED AT 2250.
THE SHARE PRICE OF DIVIS HAD REACHED THE TARGET OF 1672 (PL SEE THE POST ON 10TH JULY). IT HAD REACTED TO TODAY'S LEVEL. IT IS OBSERVED THAT THE MEDIUM TERM TARGET FOR DIVIS SEEMS TO BE AT 1800. MAINTAIN STOP LOSS AS PER YOUR RISK APPETITE AS THE FUNDAMENTALS ARE GOOD.
L&T FH IS NEAR THE END OF THE DOWN FALL OF LONG TERM NATURE FROM 213. IT IS AT PRESENT FIB LEVEL OF 72% RETRACED. AT THE LOWER SIDE IT MAY REACH 92. IF AN UP TREND STARTS, THEN THE PRICE SHOULD GO UP TO 220. THIS IS OVER A LONG PERIOD OF TIME.
COMMENTS ARE PROVIDED IN THE CHART.
HOUR CHART OF JD HAD GIVEN A BUY SIGNAL. BEFORE TAKING BUY DECISION, LET THE SHARE TRADE ABOVE 705 FOR CONSIDERABLE AMOUNT OF TIME. IF IT IS SUSTAINED, THEN 731 IS THE TARGET. IN THE DAY CHART, THE SHARE IS SEEN GETTING SUPPORT AT 690 LVLS. ANY BOUNCE BACK WITH VOLUMES WILL TAKE THE TARGET AS 794.
WHAT DOES THE DROP IN PRICE WITH INCREASING VOLUMES SIGNIFY? TODAY'S TRADED VOLUME IS 50% MORE THAN THE LAST 5 DAYS VOLUME.
RIL HAS INCREASED TRADING AND DELIVERY IS INCREASING AS THE PRICE IS DROPPING (57% AGAINST 52%). WITHIN A DAY OR TWO EXPECT THE PRICE OF RIL TO REVERSE. STOCK MAY GO DOWN UP TO 1150.
MOST OF THE PHARMA COMPANIES ARE SIGNALLING BUY AND THE RESULTS ARE ALSO SEEMS TO BE GOOD. THE PHARMA NIFTY HAS H&S FORMATION WITH NECK LINE AT 7777. AND, THERE IS A CUP & HANDLE FORMATION WITH NECK LINE AT 8352. FOR INDEX TO MOVE UP, THE RESISTANCE AT 8062 HAS TO BE CROSSED. FROM THE CHARTS 8160 SEEMS TO BE THE NEXT TARGET.
SUN PHARMA HAS COME OUT OF THE CLOUDS. THE NEXT STOP SEEMS TO BE 468. CLOSING ABOVE THIS LEVEL WILL KEEP 480 AS THE NEXT TARGET. AS MENTIONED IN EARLIER POST (17TH JULY), TARGET OF 445 WAS GIVEN AND PRICE REACHED 443.