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LT price structure is very very bullish. Stock is rising with 35% trend angle and within the inner trend channel of the pitch fork. However 1383 is a major neckline for the stock in the weekly scale. Those who have enjoyed this ultimate rally, can think of partial profit booking or hedge. As long as its trading above 1338 no problem for bulls. Below which it may...

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HDFCBank results was expected to be better and it posted very good results. Many brokerage houses gave ratings and target upgrade on the stock. Hence, buying interest was enormous in the stock, as almost 5.5 million volumes was generated in first 15 minute candle. Ideally with so much buying interest stock should have held its high and moved higher. At least...

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#BajajFinance has formed a #TrendReversal candle pattern as per VSA. Where the current bar almost engulphs the body of previous breakout bar. Volumes were decent. This could be because of the intense selling in the markets today. Time to watch out for follow up price action. View definitely not bullish. Anyone holding longs in portfolio should exercise caution here.

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HDFC last daily candle appears to be a SoD (Supply overcoming demand) candle or a buying climax candle when stock closed near low despite of a high volume upmove in first hour. Heavy supply was noticed near its resistance zone of 2777. This reminds me the buying climax patterns in TCS/Infy/Wipro seen last month. Below 2615 stock can start sliding down again.

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After 11 weeks of consecutive higher closings, Nifty closed lower with a wider range bar with higher volume. With this many TA's have started giving targets of 12800-11800 by February straight away. As a TA we must understand that patterns take time to develop. Even if 14765 is considered to be the interim top, can #Nifty reverse its gear from 5th gear to...

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#BankNifty is a perpetual short with a objective target of 28150 i.e. 38.2% retracement of the rally which started in the first week of October. It completed 23.6% retracement and bounced from 29959 levels. Seems like major correction is still pending and looking at the banking stocks seems like BankNifty may wipe out another 2000 point gains in next 1-2 months....

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#ShreeCem is trading near the lower part of the #Rectangle or #Box with major neckline support placed at 23500. If trades and sustains below 23500 then its a perpetual short. Good to wait for another one week till results before initiating any trade. Added it to my short watchlist.

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#HindUnilever was showing enormous strength in the falling market. Has formed a VSA breakout candle. A good momentum investment candidate. Can test 2456++ with SL of day low. Could be a pre-results rally.

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#KotakBank looks weak at the moment. Has generated positional sell signal as per the setup. This stock has given enough pain to bears till date. This time could be different. Below 1802 it will become even weaker.

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Rising volumes but price acceptance at higher levels is missing in BajajFinserv. Yesterday stock made a #BuyingClimax candle where the high volume buying was rejected at higher levels and stock closed almost at lower part of the day. SoD/BuyingClimax candle low is 8951 below which short trades can be initiated. Would be a good idea to book profit on longs at...

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#NestleIndia is forming #EveningStar kind of pattern. Previous weekly candle formed O=H and last weekly candle closed below that. 18000 is the high of recent ultra-high volume candle. But lack of volume during the last two candles fall suggest that it could be a temporary pullback. Considering this as a BO retest, chances of a bounce is high. 18000 is LOC....

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CoalIndia in the process of forming a inverted HnS with neckline around 148. Stock is a good buy near 120-125 on dips or on breakout above 148. Ideally one should wait for the price structure to confirm the trade than preempting it.

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#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.

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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...

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#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.

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#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.

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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...

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#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...