The stock has seen exponential rise since last many months without any intermittent major corrections. The fresh trend lines created have been breached now, and stock seems to have entered into sloping / sideways channel since Feb. Expect to see corrections upto 1300-1250 or upto the trend line which will be healthy for accumulation & gather momentum for future uptrend.
The stock has seen correction since Sept 2021, formed strong base, and is rising with HH-HL pattern. Important levels are indicated in the chart. Target price shown is based on rounding bottom pattern.
The stock touched its all time high 198 in Sept/Oct 2017 and has been in downtrend since then largely trading below its 200EMA. The stock has formed multi-year Rounding Bottom pattern, with another minor rounding bottom inside it. The short term, intermediate and long term targets & major resistance levels are indicated in the chart.
Aditya Birla Capital, AB Capital stock has seen huge correction (value erosion after IPO) from Yr 2017 upto Yr 2020, from the High of 255 to Low of 39 in the span of 3yrs. The stock rode the wave of bullish sentiments in the stock market after Covid19 and touched the high of 199 in July 2023. The stock is close to giving multi-year breakout (7yr) based on...
Rounding bottom / Cup & Handle pattern complete, suggesting target of 205. Important levels shown in the chart. The stock needs to break down of the trend line, re-test & sustain at support levels before next uptrend.
Based on trendline levels which have been respected in the past and long term support & resistance levels, it seems BankNifty is likely to remain sideways to bearish in short-term perspective with probable correction upto 49800 to 48000 range. (Note : Pls discard 'Long' & 'Short' indicator on the chart)
Kabra Extrusion has been in uptrend last 2yrs & witnessed correction in Yr 2023, though overall sentiments are positive. Price has crossed both the trendlines, along with rounding bottom pattern formation and is near the important level, which if crossed, will open opportunities for higher levels.
HBL Power System, looks bullish, may give multi-year breakout..
This stock has given a) parallel channel consolidation breakout b) Trendline breakout c) crossed 200EMA and also continuing to complete d) rounding bottom pattern suggesting nearest target of 1420, provided stock continues with the momentum to breach immediate resistance levels.
COROMANDEL INTL, near 200SMA. Expect to face resistance at 966 and correct upto 20EMA for the support and resume upward trend. Also, formation of rounding bottom / Cup & Handle pattern suggest long term target of 1240.
Pidilite Industries has given long trendline breakout and is moving towards completing rounding bottom pattern, with some major resistance on the way which if breached can reach higher targets.
GAIL @ CMP 136. Highly cyclical stock. Touched ATH 104 on 1-Jan-2008 which was breached on 1-Sept-2017 only. Made new ATH 133 on1-Aug-2018 which was breached on 1-Nov-2023. The stock with CMP 136 is sailing within an ascending channel having its probably resistance at 155. The stock has been in uptrend since last 1yr, so some correction or profit booking is...
The stock had been in downtrend since its listing. Had made Inverted Head & Shoulder Pattern after listing but was unable to sustain, however continued the downtrend forming rounding bottom pattern. Now, the stock has given 6month breakout. Even though earlier Inverted H&S pattern is invalid, I have shown intermediate targets based on the same. All levels shown...
Dabur India shows bullish setup with confluence of multiple patterns. The stock is trading below and approaching #200EMA which is important support / resistance level. The stock has given 5month trendline breakout, along with W-pattern and is also forming rounding bottom pattern. The key levels to watch out are indicated in the chart.
The chart of Dabur India shows successful completion of rounding pattern (as explained in previous idea) and now forming Cup-Holder pattern within S/R zone. On breakout, the stock may reach the level of 680 which is the next technical target after rounding bottom pattern. This is not any buy/sell recommendation, just chart pattern based technical analysis.
The stock has been in sustained downtrend since 2021, forming rounding bottom pattern. The correction in the stock price after dividend payout got extended further upto 298 levels. There is also small rounding bottom pattern inside the major one along with rising wedge pattern which is likely to breakout soon. The levels are shown on the chart, for...
Aarti Industries is below 200EMA and its 10EMA has crossed above 21EMA showing short term strength and momentum in the stock. Has been trending downward in the channel since Sept 2022 and is closer to break short term and long term trendline as well. If that happens, we can look forward to rally upto 650 as first target. Levels marked on the chart, for...
The stock looks bullish, though below 200EMA, have given channel break out with huge volumes along with inverse Head & Shoulder formation. After 200EMA has the strong resistance zone which is breached can provide new higher targets.