As seen Jain Irrigation has broken out of symmetrical triangle with volumes on the daily chart a few days back. The stock has the potential to move higher and test its intermediate highs.
Conservative traders can wait for a pullback to enter, in order to have a better risk reward.
Target: 107, 120
Exit Levels: 91.90
As seen Star Paper has broken out of symmetrical triangle with volumes on the daily chart a few days back. At the moment it is re-testing the breakout levels, which is a good place to enter longs. Stock is at its highs.
Expected Levels- 245
A good risk reward: 1:3.7
As seen PTC India has given a cup and handle breakout with good volumes on the daily chart. It is bullish in the larger time frames also.
A conservative trader may wait for a re-test of the breakout levels.
Expected Levels: 100, 105
Exit Levels: 80
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a...
As seen National Aluminium has given a breakout of an important level (68- 71) on the weekly chart with volumes after 5 years.
Conservative traders can wait for a pullback in order to get a more favourable risk reward ratio.
Exit Levels- 63.50
Expected Levels- 85, 100, 110
As seen Petronet has broken out of symmetrical triangle with volumes on the daily chart. Also, it is bullish in the larger time frame.
Conservative traders can wait for the price to re-test the breakout levels in order to have a more favourable risk reward ratio.
Expected Levels- 410, 460
As seen Britannia has formed a Double Bottom Pattern in the daily chart. A breakout of this pattern as well as the trendline on closing basis would be our entry.
Expected Levels: 3400
Exit Levels: 2920
Double Bottom Pattern is a bullish reversal pattern, made of two consecutive bottoms. It indicates that the price has reached a support level and is facing...
As seen UPL has broken out of symmetrical triangle with volumes on the daily chart yesterday . Also, it is bullish in the larger time frame.
Expected Levels- 830
Traders can wait for a re-test of the breakout levels in order to have a small stop loss and a favourable risk reward ratio.
As seen in GP Petroleums has broken out of symmetrical triangle with volumes on the daily chart. Also, it has given a breakout of the bollinger bands indicating a bullish move.
It is bullish in larger time frame also.
Expected Levels- 96 ,105, 115
In the hourly chart it has given a flag pattern breakout for which the target is 96. Its previous all time high...
As seen, Nifty has been consolidating in a rectangular channel facing resistance at at 50 SMA in the daily chart.
Also, there is negative reverse divergence. Negative Reverse Divergence is when price makes lower high and RSI makes higher high, which implies that even though RSI is strengthening and making a higher high , price fails to break its previous high...
As seen PFC has formed a Double Top Pattern in the hourly chart. It has recently given a breakout in the last session. Also, three out of the last five candles have been big red candles indicating weakness in the shorter term. Particularly in the last session where open = high.
Double Top Pattern is bearish reversal pattern, made of two consecutive tops. It...
As seen Just Dial has been contracting in a narrow range forming Lower highs and higher lows (Symmetrical Triangle)in the hourly chart. Lately, it has given a breakout on the upside with good volumes.
Target- 400, 410, 425, 445
As seen Nifty has been facing resistance at the top band of the ascending channel with bearish divergence, where the price is making a higher high and RSI is making a lower high, indicating weakness in the hourly chart. Therefore, expecting a move towards the lower band of the channel.
Short when it breaks the trendline or below the low of last candle at...
As seen Bank Nifty has been consolidating in a rectangular channel forming equal highs and equal lows in the hourly chart. Buyers have been facing resistance around 18700 levels as can be seen by the red arrows. It has also formed a Shooting Star candlestick pattern encircled in red, which is a bearish reversal pattern.
Short- Below low of shooting star i.e...
As seen in Datamatics Global 96-99 levels has been an important resistance level, which it has failed to breach in the past as can be seen by the red arrows. A close above 99 would be an entry in this stock. It is also near all time high.
As seen Bhel has broken out of Ascending Channel in the daily chart a few sessions back, thereby breaking the higher high and higher low price action and gone on to make lower high, indicating short term weakness. Lately, it has formed a descending channel and the stock is expected to move down along the channel.
Expected levels - 117, 110, 104.
As seen in Infosys, the price is moving in a descending channel forming lower highs and lower lows, indicating down trend in the daily charts .
Lately, the price has resisted the upper channel and .5 Fibonacci retracement of the last swing is acting as resistance.
Also, there is negative reverse divergence making it all the more bearish.
Therefore, expecting the...