After the trendline breakout, the price seems to take a pullback & is now testing it's previous resistance which is now a support.
Another support- 200 SMA
So clearly there's a confluence.
Target- All time high
SL- 200 SMA
Previous breakout was predicted at the right time. Link below:
Good for a Swing trade.
This stock has been in a consolidation phase since very very long time. Expect it to break on either side of the triangle.
But I'm more positive on the upside as the price is hovering around the 200 EMA.
It's sitting perfectly on the lower base of the triangle. One can initiate a buy now as the risk to reward will be very suitable. One...
1) Breakout in daily, weekly & even monthly time frames.
2) Breaking out of a down trend of 12 years .
3) Look at the momentum of the move after CORONA.
4) Look at the volumes rising after CORONA.
5) Plot a 50 EMA , you'll see a recent bounce from it.
Hold it for a month or a year until it touches the All time high.
Stoploss- The trendline.
1) Taking support @ 200 EMA
2) Morning star doji after a down trend .
3) Bounced from horizontal support from which it broke out earlier on 7 DEC.
4) @ the lower end of the new channel it has formed.
5) RSI at oversold region
Target - 2445 (9%)
SL- Low of the doji
Karur Vysya has spiked with huge volume making a 10% move intraday.
If in the next trading day it crosses >50 one can go long.
Target 1- 56
Trgt 2- 60
(PS- wait for breakout > 50. will also work intraday but targets may vary.)
A valid breakout- supported by good volumes. Look at the last 30-45 mins of trading on 2/2/21 ... There's a clear bullish momentum causing the breakout. So I'm expecting tomorrow it will open GAP up.
Target: 2000 (height of the Head)
SL: just below the resistance.
After a consolidation of about 2 months, Wipro (along with other IT stocks) has given a breakout, which is validated by the sudden spike in volume.
Target: for swing trade - 420 (10%)
for intraday -400
SL: 380 ( All time high)
Has given a breakout from a double bottom pattern.
Breakout day had high volumes..confirming the breakout.
One can keep averaging till 95.
Good for swing trade as this script doesn't make fast moves.
Target 2: 125
Pennant pattern seen in AxisBank. It's a sign of consolidation.
There's high chance of a breakout.
It's wise to take a position on the long side as the SL will be less now.
If it breaks the pennant on the downside, take a Hit & initiate trade on the opposite side.
Breakout TGT: 710 & 760
Breakdown TGT: 200 DMA
After a spectacular rally in Hindalco, we can see an evening star pattern being formed.
Look at the nice red candle formed after the evening star, confirming the pattern's validity.
In my view, it will not go in a reverse direction forever but will only take a pullback.
(After that trail SL till 210)
After trading in a narrow range for > 6 months with meagre volumes, IRCTC has finally created interest among the traders.
Huge volumes traded on the date of Q2 results.
If the price sustains above 1595 or opens gap up & doesn't break the low, one can go for BUY , both intraday as well as swing.
Target: 2000 (25%)
SL: 1595 (on closing basis)
Firstly Nestle gave a breakout above the 200 SMA with excellent volumes.
then it saw some consolidation confirmed by subsequent lower volumes.
Then there was a pullback right till the 200 SMA from where it has bounced back.
It is also forming a flag pattern & now it broke out of the flag with decent volumes.
Coincidentally, it is also breaking out of the...