#GreavesCotton on the verge of #DoubleBottom #Rectangle breakout after 9 months of consolidation. Breakout neckline placed at 91.6. Copy book target for the pattern is 116.35. With current market structure may give a pullback. However stock looks good for a swing long.
Since March low #Nifty is following some nice pattern. It seems to be in love with XX-800 and XX-200 means 800 and 200 in each thousand stairs it moves. Lets look at it in details. From March low of 7526 odd, first it went up to 9800 and then retraced to 8800. Love of XX-800 starts here. Took support near 8800 and moved up. Faced some resistance near 10300...
#HindPetro after 3 years of downtrend showing some strength. Stock taken major support near 163 levels and forming a #DoubleBottom and #Rectangle or #Box pattern. Currently struggling near 50 WRMA. A weekly closing and breakout above 242 will open text book double bottom target of 323. Time to wait for breakout confirmation.
#TataSteel after a 59.2% dream run, have broke out of the lower trendline of the parallel rising channel. RSI showing bearish divergence. If this early weakness converts to profit booking, then stock can give a decent retracement. 23.6% = 591, 38.2% 554.
TCS notices a Doji near the ATH. Volumes are significantly high. As per volume spread analysis, this is termed as buying climax. Last one hour it had seen relentless selling and looking at the volume, it looks like danger ahead. It could be too early to predict the future price action, but will be wiser to wait for confirmation on higher timeframe charts...
#ExideInd is a perfect investment candidate at current levels with a minimum holding period of 1 year. Stock has given #SymmetricalTriangle breakout in weekly TF. RSIStairs forming HH and above 50 on weekly. 155 level is resistance turned support for the stock and may not be broken soon. Stock is a slow mover and will take time before trading higher. Better to...
#BankNifty is trading very crucial level. There are multiple reasons why its so. 26712 is a level which was a crucial resistance level in 2018. In 2019 twice it took support near that level. Now it may act as polarity zone, where it may act as support turned resistance after nearly 4000 point move after breakout above 22351. It can either retrace from these level...
RSIStairs broke down below 50 and nearest support level, for the first time after 21st April. It has given a breakdown from the #SymmetricalTriangle pattern too. Is this the start of end of long term bullish trend? Possibly yes. Not necessary it will go down to wires. But a definite point of exiting the longs. Either it will go under consolidation or give a...
#SBIN looks bullish. With market making new highs, it can make a breakout on upside soon. Multiple indicators indicating bullishness. Only aspect would be how someone keeps his R:R under control. Can test 205 on upside in this expiry itself.
Would like to go for BTST in #HDFCBank @1082.5 with SL of 1072/1065 as convenient to you. Target 1114++
Inverted head and shoulders in #DLF. Stock is bullish with SL of 156 as positional basis.
A high promising short term long candidate basis price volume action. Possible targets 3175/3285
#Nifty has given an inverted head and shoulders breakout above 11567. Possible futures target is 11903. SL = 11395 on hourly closing basis. Good to go with protected bullish spreads.
Yesterday, last 75M price volume action was bullish and stock closed near high point of the day. #AxisBank looking good on long side with SL = 438, TGT = 460/467/474.5. #DarvasBox has given buy signal.
#HeroMotoCo has formed a HnS pattern on 75M scale. It has broke down below the major neckline of 2965 and trading below VPOC of 9490. Textbook target for the HnS pattern is 2740, however stock may not reach that level so soon. One may think of deploying a net credit #BearCallSpread to play this trade. RSI, ADX, DarvasBox, SuperTrend all giving sell signal on 75M scale.
Starting from 1st June 2020 RSI color was green means trend was bullish. After 3 months of time first time RSI has turned orange means break in the trend. Good time to sell CE or short NIfty with protection. Seems like we have made an interim top for now. Not sure how much it will go down, however 11111/10827/10575 revisit looks possible. Any current long position...
Below 900 its a gap fill candidate. Have been bearish below 935. Below 900 will long PE naked, provided RSI falls below 40.
#Nifty made #BearishBeltHold / #BearishEngulphing pattern on weekly scale. Next week if it trades and sustains below 11289 then it can test 11113/10827/10562 (All Spot levels)