After a fantastic rally, #AsianPaints has made a #BearishEngulphing chart pattern on daily scale. Below 2990 one may think of booking partial profits whether he is interested to #Short or not.
HnS formation in progress in #BhartiArtl with neckline of 518. Need to wait for a breakdown confirmation. Not sure if any correction is due in markets or not. But if it does, stocks which lead the fall can give a big dip than those who participate later. Any #Short near Nifty ATH must be hedged.
#IndusIndBk has given first sign of breaking down below 20 DEMA and major neckline of 1003. 979 is 50 DEMA and 965 is nearest neckline support once taken out it can turnout to be a #Positional #Short with protection.
#HDFCBank future looks good to short for target of 1434/1384. SL = 1523 on hourly closing basis.
Multiple patterns seen in #BPCL weekly chart. Stock trading near a major neckline resistance of 481.7. Once this is cleared then . #CupAndHolder #AscendingTriangle. Text book target for these two patterns stand at 637/709 respectively.
#HDFCLife looks bullish on daily charts. Stock trading above all major short/medium/Long term moving averages. RSIStairs turned bullish. ADX rising. Stock trading higher after a #VSABreakOut 2 days back. Stock is ready to move higher towards 728/745 as #Long as 661 is protected on DCB. Trend & Momentum Score = 3* Bullish in daily/weekly/monthly TF
#KotakBank is trading a tight range between 1691-1813. It has tried to breakout beyond the range multiple times but failed. 1813 level is tested 7 times with an attempt to breakout. If breaks out above 1813 it can test 1948 which is copy book target for the range BO. Good to go #Long with protection.
#HCLTech looks bullish. Stock can test 986/1024 levels as long as 923 levels are defended. Good to go #Long with protection.
#HindUnilever looks weak. In a rising market, it has been falling and now trading near the major neckline support of 2323. Breaking this neckline, it may test 200 DEMA, 2265 or 2205. One day before a high volume sell candle also seen. All is not well in this counter it seems. Trend & Momentum Score - Bearish 1 Star
#BhartiAirtel looks weak, when Nifty is trading at ATH. #RSIStairs has broken down below 50. Stock making LL on daily charts and its trading below all major moving averages 20/50/200 DEMA. TV Trend & Momentum Score = 3 Star Bearish. Stock may go down and test 499/480/458 levels. Would be good idea to create short position with protection.
#CoalIndia after #VSABreakOut is declining with lower volume. Stock trading above all major moving averages and notices golden crossover on daily timeframe. Momentum indicators are in favor of bulls and stock looks good for a short term long with protection before the results. A possible candidate to give good dividends this time.
#HeroMotoCo looks bullish. Momentum indicators is in bulls favor with RSIStairs at 59. ADX rising. Stock trading above all major moving averages 20/50/200 DEMA. Stock has formed a #RoundingBottom pattern and trading near the neckline 3013 above which it will breakout. Typical text book target for the pattern comes around 3275. Good to go long with protection for...
#ITC after making a #VSABreakOut on daily charts above 208 did the BO retest and showing signs of resumption of uptrend. Volumes are extraordinarily high. Stock is ready to test 222/233.85. Technically stock trading above all major long term averages. RSIStairs above 55 indicating momentum in bulls favor. Call writers doing unwinding on 200 strike and shifting to...
#Zeel has given #VSABreakOut in daily charts above major neckline of 198. Stock is trading in a rising parallel channel and has reversed from lower trendline. RSIStairs has broken out above 55. Above 200 gates will open for retest of upper trendline thats around 260. Most importantly it has closed above yesterday high volume candle. There are huge shorts still...
#Escorts is a perfect short covering candidate above 1183. It has made 3 back to back #StoppingVolume and #BagHolding candles with strong price rejection at lower levels. Volumes are significantly higher in last 3 sessions. Once it trades above 1283 and sustain it can move towards 1220/1269/1355. Results was quite good. A perfect long candidate.
Nifty has killed the breakout traders so far last 2-3 months. Whatever, it has formed an inverted #HeadAndShoulders pattern with neckline around 15040. Also if you closely look #Nifty is trading a box pattern since last 2.5 months. As per TA, if a level is tested time and again, then chances of breaking it is very high. Typical text book target of such pattern...
#BankNifty has formed a #DoubleBottom pattern with neckline above PDH 33600 with a copy book target of 34885. With so many attempts to breakout this time it may succeed. Previous week it had a #BearishEngulphing pattern on weekly charts. #BankNifty has closed above that in the first day of the week. So the bearish pattern failure in previous week may give some...
#Maruti looks like a possible TrendReversal candidate as long as 6408 is protected. Will slowly accumulate it to the portfolio with protection.