This week the price closed marginally above the 40 weekly moving average. Important to note levels above 2675 as it could create momentum for an upward move. Above 2800, it might touch its high of 2856 and even move higher to 3000. Trade with a stop loss of 5-8%. Note: Not a buy/sell recommendation. Do your own research and consult your investment advisor.
From among the IT Pack, Infy is the one I'd love to keep a watch on. From the high to a 30% correction, the stock is slowly inching its way up. Forming a double bottom pattern, the current price is hovering near the neckline. Positive with initial targets of 1750, 1900 and 1950. Above 1950, we can expect good move upwards. The stock has strong support at...
Breaking out of the zone above 1064, the 5 year price high of 1094.95 last achieved on 2 May 2017, broken. 7 year price high of 1247.65 last achieved on 3 Aug 2015 can act as immediate target and resistance. Probable target: 1373 Keep a stop loss of 5-8%. Note: Not a buy and sell recommendation, do your own study and consult your financial advisor
The stock is currently trading in the range between 385 and 450. Significant price action can be seen beyond 450. The price of 385, at the neckline, can act as a good support zone. Also on a weekly chart, the stock price is also trading above the 40 weekly moving average. Trade with a stop loss of 5-8%. Note: Not a buy/sell recommendation. Do your own research...
The stock price is trading above the 50 day Moving Average at the current market price of 222.20. It is still under the consolidation zone. Price movement above 236 will signal the breaking of that zone. However, 246 will act as a strong resistance level. Momentum will come once this level is crossed. See strong support at 210 if the stock fails to gather...
SBI looks to step out of the consolidation zone after forming a double bottom pattern. Will watch the levels of 473, which is the daily EMA. Once this level is crossed, expect some good momentum in this stock. Always define your stop loss between 5-8% if your trade fails. Do read my previous analysis on State Bank here..
Levels between 1496 and 1547 are to be observed. Upward momentum can be seen once 1547 is crossed, with resistance around 1650-1660 levels. Upward of 1660 could see strong momentum till 1750 levels in the short to medium term. Support levels around 1460 and 1400 levels. Do plan your trade with strict stop loss as per your risk management strategy. Note: Not a...
After a year long consolidation, we can see a formation of a cup and handle pattern and an ideal buying zone for this stock. Initial target: 3330. Stop loss: 5-8% Note: Personal analysis. Not a buy/sell recommendation. Do consult your investment advisor.
Will observe price action between 82 till 92. This range will define how the stock does going forward - whether it takes the upward move, goes sideways or pulls back to its prior support levels of 70, 66, 60 and 55. RS line is trending up, with the price above the 10 week moving average line. I would hold a bullish view above 92 with strict stop loss of 5-8% if...
Formation of bullish to bearish trend reversal head and shoulder chart pattern on ICICI Bank. Important level to watch is the neckline of the pattern around 843.
As the stock emergers out of the consolidation base, the levels of 244-250 are important and can be buy zones. If it sustains the upward momentum, expect an initial target of 270 and a secondary target of 290, with stop loss at around 230 levels. Relative strength displays an upward bias at the moment and the stock is trading above 50 DMA. Note: Consult your...
I see significant traction above 764. With a strict stop loss at 5-8%, one can take positions based on one's risk management. Note: Not a buy / sell recommendation. Do consult your financial advisor.
With a bullish candle formation on Friday, the upward momentum looks promising in Praj Industries. Sustaining price levels above 390 is important. On the positive side, then one can expect initial target of 410 and 440. Beyond 450 can see substantial move on the upside. Support level at 365 and 350. Below 350 one can initiate stop loss. Not a buy/sell...
After making a high of 415, the stock has shown weakness. Currently, I can see formation of bearish flag pattern, which is a continuation pattern. Can expect further correction in the stock price. Another important thing to note is that the stock price is below the 50 day moving average. For any positive up-move, will wait for the price to move above the 50 day...
The stock price action in KPIT Technologies look good, given its move from around 450 levels to 569. Breakout above 590 will add some momentum for it to go till 625 and 650 levels in the short to medium term. Good support in the range between 540 and 525, below which it has strong support at 455. Always trade with a stop loss. Note: Not a buy/sell...
From the highs of 298 to 190, and then an up-move to 237 where the stock finds immediate resistance. Might see price consolidation between 240 and 226. Above 240 we might see a move towards 255-260 levels. Support at 220 and 217 levels. Always define your stop-loss before every trade. Note: Personal analysis. Not a buy/sell recommendation. Do consult your...
A few pointers on why Stop Loss is a necessity for those who trade.
As the stock moves up over the 200 EMA, it is time to pay attention to this stock. Strong uptick in volume and gradually increasing RS line. Targets of 1380, 1450 and 1580 if it builds on momentum. Support zone at 1200 and 1150 and 1050. Always trade with a stop loss. Note: Not a buy/sell recommendation. Consult your financial advisor