Nifty has been moving up on low volumes in a rising wedge. Volumes are now decreasing with an increase in index price and RSI is overbought. We can expect to see a reversal to approximately 15335 in the next 7 trading sessions. SGX Nifty Futures closed high at 15797 so there is definitely room to move up before the reversal.
Dwarikesh has recently broken out from a multi year downtrend (Descending Triangle) and broken through several important resistance levels with good volumes.
Final Target: 80
Time Frame: 1 Year
Based on the volume profile showing heavy support at CMP, the oversold RSI reading and overall base trend line, the stock can rebound to ~Rs.1000 within the next 7 days. Note - earnings are post market on friday 23rd April.
Link to longer time frame trade Idea on HCL:
Sbi has shown extreme weakness over the last few weeks, with recent gap downs on the daily chart. We can expect a rebound off of the current level which is its Feb 2020 High , (Double bottom on daily chart). It may drop further to the bottom upward trend line (Bold Blue) at ~315 before rebounding.
How to trade going forward:
One can buy in at the current...
Angel Broking recently broke out of a downward channel with decent volumes.
#1 - 370 - (~80 Days)
Rest of the targets have time frame of up to 8 months.
#2 - 380
#3 - 408
#4 - 422
Stop Loss - 306
Tata Power is currently trading under its 50 DMA after a sell off in Indian Markets this week. The fact that they have dropped their solar power deal with Petronas did not help the situation.
Price breaks the overall bottom trendline (bold blue) with above average volumes.
Target price can be set at ~86.40, with a stop loss at 94.
HCL Tech seems to have broken out of a downward trend, caused by fear selling in the markets this week. The stock has been following an upward trending parallel channel over the last few days and has also rebounded off the 50 DMA. It is set to achieve a target of 1110 by earnings release ~ 15th of May.
Stop Loss: 960
Time: ~ 39...
Possible break out in Silver towards the $26 level, can move further based on volumes over the next 2 days. Depreciation in dollar should add to the momentum however rising bond yields may cause rough waters.
Target 1 - ~$26
Targer 2 - $26.45
Entry: Once the resistance at ~26.53 is taken out with decent volumes, and then possibly retested.