It's a perfect cup & handle formation as per William O'Neil's definition.
Here I have taken a weekly chart and tried to simplify the formation. The explanations are marked in the chart.
Also, keep in mind the overall trend of the stock, here it should be in upward trend :-)
Ideal buy point is near the handle pivot.
Always keep a strict stop loss of...
Wait for the price consolidation to break above 158.
Breakout above 171 may trigger upward momentum.
To be cautious if price falls below support zone of 132 and 126.
Note: Chart analysis for educational purpose, not a recommendation for buy or sell.
HFCL looks bullish on a symmetrical triangle breakout above 89 and a close of 91.85 as of 14 Jan 22.
Target of 120 with a stop loss of 5-8%.
Not a buy/sell recommendation, but personal analysis for educational purpose.
Reliance is trading in the channel with an upward bias on a weekly chart.
2600 and 2710 are levels to watch out for.
Above 2710, 3253 is the next level where the price can meet resistance as per Fibonacci.
Strong support visible at 2331, in case of retracement.
Also, stock is above the 40 and 10 weekly EMA.
The current price 314.85 is hovering near the breakout price of 326.
If the stock gains momentum, it can touch 365 and 390.
Retracement levels can be seen at 314, 293, 286 and 262.
As with every trade, always keep a stop loss and also consult your registered adviser and do due diligence.
Not a buy or sell recommendation.
Key levels to watch is 108, breakout beyond which will add momentum to the scrip.
113, 117 and 125 are short to medium term levels to keep a watch.
On daily chart, the price is sustaining above 20 EMA.
Always keep a stoploss.
INDIABULLS HOUSING is on a consolidation phase on weekly chart.
Trigger could be the crossing of 50 day EMA at around 234.
Target of 280, which is also acting as a resistance zone. Beyond which 312 should be achieved in the medium term.
Current consolidation range is between 280 and 200. Below 200 the stock could slide to 180 - 160 levels.
Would wait for the...
Yes Bank is set to close above its 200 EMA. Also watch volume activity.
One can keep Yes Bank under watch for a target of 17 in the medium to long term.
Important is for Yes Bank to remain above 200 EMA for further action.
LT looks set for a breakout, identified with a cup and handle formation- with the ideal buying range between 1900 and 1920.
Short term target of 1984 and long term target of 2230.
Always keep a stop loss at 5-8 percent.
Note: Not a buy or sell recommendation, but a personal analysis for educational purpose.
Subex looks set for breakout after 18 weeks of consolidation.
Crossing the levels of 57-59 is important.
Can go up to 62, 66 and 74.
Always keep a strict stop loss of 5%-8% depending on one's risk profile if the trade fails
Resistance at 89. Will see strong upside once this level is crossed.
The price can retrace back to 79, 76 levels and 71 if it fails to sustain momentum.
View: Bullish in the long term. However, always keep a stop loss of 5-8 percent if your position fails.
Currently, ICICI Bank made a rebound after a correction. Levels of 747, 765 and 805 can be immediate resistance on the way up.
If the rebound fails, then, look for strong support at 710, below which 692 is another support zone.
Also, 734-682 looks like consolidation range and hopefully the stock should stay in this range if it falls.
Going bullish, a target of...
Redington is looking to break away from consolidation. Need to lookout for price movement above 156.
Also, make a note of:
1) above average volume activity over the past few days
2) RSI at 57 with upward bias and...
3) Relative strength as it gathers strength to outperform
Last week, Tata Motors violated the 20 day EMA. Today, after breaching the 50 day EMA, the stock price rebounded and closed the day above it.
As per the chart structure, 451 at 50 day EMA and 434 at Fibonacci level can act as a good support and rebound zone.
Support at around 100 day EMA and Fibonacci retracement level around 402 if it breaks 434...
Currently State Bank of India (SBIN) is under pressure and its price action points to a correction, and its 50 day EMA was breached at 486.
Price violation below the trendline around 466 would create downward pressure. And the stock might test 456 and 438, which are 100 and 150 day EMA respectively, if weakness in the stock persists. However, these levels can...
IRCTC has breached the trendline at 866 and 50 day EMA at 826. Critical is the Fibonacci level at 823, the breaking of which the stock should find a resistance at 803. Below which another support is at 777. Further downward movement and 723 should act as a strong support zone, which is also 100 day EMA.
On the positive side, target of 1056 if it breaks the...
BIRLASOFT emerged out of 22 weeks of consolidation. The stock has consistently remained above weekly 30 ema. This ensures the stock is strong. When the stock breaches the 30 weekly EMA, then we need to be cautious.
Currently, RSI around 70 and in upward trajectory denotes positive momentum
Also, important point to note: RSI has very rarely breached 60 with...