TheUnlearningOne

TheUnlearningOne

Canara Bank looks good with a strong bullish candle formation on the weekly chart. Positive momentum above 342, with strong support zone between 300-290 on the downside - below which 270 could be an important level. Note: Not a buy/sell recommendation.

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The price is at an interesting stage, within 10% of its 5 year high of 206.6. Breakout above this could see positive momentum. However, as always, keep a stop loss of 5-8% if the trade goes wrong.

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Cummins India stands on the cusp of a multi-year breakout on a monthly chart. The price is near its lifetime high of 1247 achieved in August 2015. We might witness price consolidation in the range between 1000-1200 before it makes a dash to the upper side. As always, do place a stop loss before initiating a trade. Note: Personal analysis, not a buy/sell...

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Last week the price moved up from a brief consolidation. Watch for price action between 92 and 95. Above 95, can see price go up to 101. And if the momentum continues, 113 is achievable in good time. 80, 72 and 66 can act as good support zones. Note: Always define stop loss in your trade, usually 5-8%.

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Price in consolidation zone near the resistance level of 747. Breakout above this level, with good volume will create a momentum for a substantial upside. 680 can act as immediate support zone. PS: Not a buy/sell recommendation.

TheUnlearningOne

A defence sector play, GRSE looks poised for an upward momentum after 26 weeks of consolidation. Sustained momentum above its breakout level of 564 will be positive. Good support zones around 510, 450 and 400 levels. However, as always, keep a stop loss of 5-8% if the trade goes wrong.

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Suzlon is at the cusp of a 5 year high. On a monthly chart, a long term outlook is advisable, with an initial upward targets of 15 and 17.45 and further if strength and momentum is sustained. However, would be careful if price falls below 9.30. Has the potential to be a big winner. However risk management is key with a strict stop loss. PS: Not a buy/sell...

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Can look at Zomato if it closes above 57 with a strong price action for a short/medium term perspective. Good support zone at around level of 50. However, need to be cautious below this price. Can see upward price gains to 65-70 if it gathers momentum. Further action basis price action. Strong resistance between 75 - 88. Note: Personal analysis, not a buy/sell...

TheUnlearningOne

The fall on Friday (5 May 2023) was a news driven event. Need to see the price action and how it shapes up during the week going forward. Might see price consolidation between 1625 and 1725. Breakout and close above 1725 would be create an upward momentum. Support around 1560 - 1500. Bullish over long term. However, always keep a strict stop loss between...

TheUnlearningOne

As the price tries to emerge out of the 25 week channel range consolidation with good weekly volume, can expect price to show strength and momentum in the near term. Initial target of 318. Further targets as per price action. However, the stock has good support at 226-215, below which one needs to be cautious. Always keep a stop loss of 5-8%. Note: Not a buy...

TheUnlearningOne

Tejas Networks Ltd. looks good for a short/medium term trade basis price action. Good support along the trendline and weekly closing above the 40MA. Price might see some tightness in the range between 640-679. Wait for price to close above 679. However, can see good momentum above 680 with initial target of 716. Based on further price action will need to...

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Double bottom chart pattern formation visible, with level of 720 acting as important support zone. Might see price consolidation zone between 907 and 1008, with momentum gaining ground once the level of 1010 is crossed. Currently, the structure looks good, with the price also above the 40 weekly moving average. However, always keep a stop loss of 5-8%. Note:...

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With a support zone at 518, can expect an upmove if the price overcomes 560 and 585 levels. Resistance of 585 needs to be breached. Follow strict stop loss always.

TheUnlearningOne

On a daily chart, the stock recently reclaimed the 200 day EMA with volume and is hovering above it. Breakout above 2352 with initial resistance at 2416. Might see price consolidation in this zone. Watch for positive price action above 2416 with volume. 2260 - 2240 are important nearest support zone. However, do always keep a stop loss between 5-8%. Note:...

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After the high of 739.85 the stock corrected almost 50% with strong support at levels around 370-375. Double bottom formation with stock price closing near the 40 weekly moving average. The price crossing the 40 weekly moving average with good volume would be a positive sign. Important levels to watch: 416 which is the neckline with initial targets of 427 and...

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Today, Yes Bank broke the 28 week consolidation high of 15.05 with good volume. But ended closing marginally below at 14.70 Important to note, it crossed the important levels of 50, 100 and 200 day Moving average and closed above it. This can be a positive sign for the stock. However, the next few days are important to see how the price behaves. It might...

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It has been making higher lows and can see formation of a symmetrical triangle. Key levels to watch between 2165 and 2220. Above 2220 can see price going up to 2376 which can act as resistance zone. Further price action above that level can be deemed positive. Keep a strict stop at 5-8%. Not a buy sell recommendation. Do consult your investment advisor.

TheUnlearningOne

Formation of a symmetrical triangle pattern. Key levels to watch are 222, 237, 253 and 287 on positive momentum. Above 287, can see a breakout move given the consolidation phase the stock is in since the high. 188-175 can act as important support zone. However, price breach on the downside at 165 can see the stock price even go lower till 150 level. Always...