The weekly chart of Nifty IT shows that it has come near the 50% retracement level.
At the same time it shows a positive RSI divergence. This gives rise to chances of a short term upside.
Though confirmation is required as per price action.
The monthly chart of EID Parry shows a multi year trend line breakout with good volumes.
But this comes with RSI divergence too.
Though the breakout raises probabilities of further upside. The chances of long term upside may gain strength on close above the highest high.
Keeping SL at close below the lower trend line.
The weekly chart of Max Health Care Cleary Shows a Symmetrical Triangle Breakout.
Breakout happened with a good volume bar.
The stock can touch app 480 - 500 as per the pattern. However the stock is in an uptrend.
So even when the target is achieved one may hold the stock with trailing stop loss.
The dly chart of Tata Elxsi shows a resis at 6099
A valid brkout abv it is likely to take the prices on the upside.
Can touch app 6600 - 6700
However is prices continue to move abv 6750.......it will likely carry on the upside.
The stock has been in bullish momentum and this brkout may prove to be yet another entry point for those who missed the previous bull...
The chart shows that SGX Nifty is currently at a crucial Trendline support on it's hourly charts.
A valid Breakdown below it will probably lead to its downside.
And so will be the impact of Indian Nifty.
The weekly chart of SRF clearly shows the breakout of a bullish flag pattern.
The stock is likely to continue its upside.
Buy on pullback app 2550
Add more qty near 2270
Tgt app 3000 - 3100, 4000 - 4100, 4100 +++
As per the chart, one can clearly see an Inv H&S formation in Bank Nifty.
Breakout is still awaited.
Upon a valid BO, it can touch app 41,650 - 41,700.
SL blw low of Right Shoulder.
Trade as per price action.
Maruti monthly chart clearly shows the formation of an Inverted H&S pattern.
The tgt of a valid brkout, should ideally lead to the stock getting into its All Time High Prices.
But still the previous top will act as a major resistance.
One should take caution at that price levels.
The big upside move yesterday in ZEEL ended up closing the day with it's resistance breakout.
The further targets are marked in the pic at app 307 & 402.
Though due to the big price move yesterday leading to a such a big candle, the Stop Loss seems to be quite big.
This also leads to a probability of stock going sideways.
Hence, it will be prudent to wait for...
The charts clearly shows short term bearish RSI divergence coming in the way of a Rising Wedge pattern on the Daily charts of SGX Nifty.
Last week Friday ended up forming a Spinning Top in SGX Futures while Spot formed a Grave Stone Doji.
These are early waring signals that we may witness a downside as the market finds immense pressure at the moment to continue...
The daily chart of DLF has formed an Engulfing Bearish Candlestick showing signs of negativity coming into the stock.
One can go short only below a valid Break Down of support marked.
An upside channel can also be seen.
If the stock manages to close above the channel then it would generate buy.
Trade as per priceaction.