A potential crash landing candidate below 198. Amid weak global cues, if market opens gap down, it can give a high risk reward trade with SL above 202-207 basis opening price with a target of 180 on positional basis. RSI is indicating weakness and it was falling on a strong market. When weakness evolves in banking and financial shares, it will lead the way on downside.
#M_M has formed HnS in 15M TF. Its trading below 75M VWAP price of 636. HnS Confirmation upon breakdown below neckline of 629.35 with a potential target of 600 and SL of 644.25.
#Nifty weekly RSI has crossed over above 60 indicating bulls in full control. As per history, positive RSI(14) crossover above 60 on a weekly scale, has yielded good upside moves. There are few failover cases too but going by statistics winning chances are higher. FII's are buying continuously and they are net buyers on almost 85% trading days in the last 40 days...
IOC looking good for a long with SL of 87.2. Trading inside the value area near VPOC in 75M TF chart. Looks likely to breakout on upside. On weekly scale it has formed #NR7IB. Breakout above 88.45 can open targets for 91.25/95.
After long journey JSWSteel looks weak. It has broken down below the weekly VWAPHave given sell signal on 75M TF and PnF charts about to generate a Triple bottom sell. Would be a nice shorting idea below PDL and HVN low of 282. Risk reward looks very attractive at current price levels.
TCS trading near weekly VWAP and VPOC of 2250. Stock is osillating between the value area of 2275-2245 since few days. Stock noticing selling pressure at higher levels near 2295. Move from 2220 to 2295 happened with high volume but the following selling notices lower volume. Stock has broken out above the falling trendline (blue line). Last two days, gap up...
After a dream run, metal index showing first signs of exhaustion and TataSteel may lead the fall from front. Below VAL of 420 stock looks good to short on positional basis with hedging.
Today VA low and HVN low 11415 acted as support and Nifty bounced. VPOC 11434 will act as the immediate LOC in Nifty future. Breakdown below value area of 11415 will open up targets for 11377/11288/11111. Potential targets looks very fancy. Any short position traded basis this view will have the SL of 11475-11495 (as convinient). At the same time breakout above...
#HindUnilever #RangeBreakoutTrade Chart is self explanatory. Last two daily candles noticed very high volume. If todays low 2200 is broken, then stock may test 2100 levels. Breaking out above 2255 it will head towards 2300/2325/2350. Wait for a range break out before entering trade.
#AdaniPorts is trading near its most crucial level and the strongest demand zones. CMP=357.6. 355 is multi month strongest support level. 345 is 50 monthly moving average. 349.7 is 200 WEMA. On daily chart it has made doji today near the support zone of 355. Adding it to buying radar. One can play it with bullish option spreads. R:R is high at current levels....
#ICICIBank notices #NR7IB in weekly scale (H=549.35, L=536). Volatility contraction with #NR7IB formation suggests some gigantic move is on offering in coming weeks at least 7-10% on either sides. Structurally this is the only banking stock which looks good as compared to all other peers. There is significant drop in volumes in recent weeks. Will positionally...
In last session, #IndusIndBk was seeing nice buying interest in a falling market. This could be short covering too. On weekly candle it has formed a Doji. Is a good short covering candidate with target of 1206/1220/1240/1260. Weekly volumes are 2nd highest in last 4 years and double of the 20EMA volume. Possibly stock has made a near term bottom and may recover a...
#UPL on verge of a breakout and looks good for a swing long. Will consider adding long on next session if it trades higher with a #SL 551. Target open (TSL).
#ICICIBank looking good to short with a SL of 550 DCB for a target of 515-500.
Trading above 602 #HCLTech can give interesting move on upside. Probably it will head towards fresh ATH.
#HDFCBank weekly chart looks horrible. Has formed #BearishBeltHold and #BearishEngulphing patterns on weekly scale. Now its trading below 50 DEMA. Below 1228 it can crack another 40/80 points. #Warning
#JustDial looking good for a swing long target of 655/677 positionally. SL - 580 on closing basis.
Titan is long pending for a gap fil. Stock has given breakout. Looks set to move higher for a target of 1280. Closing SL # 1262