daddycool123

daddycool123

NOW AS WE HAD MENTIONED IN THE PREVIOUS CHART 19500 ZONE WOULD BE A TOUGH RESISTANCE AND TO BREAK THAT A GOOD GAPUP HAS HAPPENENED.INTRADAY LONGS CAN BE INITIATED ONLY ABOVE 20250 FOR A TARGET OF 20875/21125.THIS TYPE OF GAP UPS ARE REALLY BECOMING A PUZZLE TO SOLVE AS ALREADY WE HAD WITNESSED TWO ISLAND REVERSALS IN PAST BECAUSE OF SUCH GAPUPS.

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IDFCFIRSTB IS STUCK IN A RECTANGLE ZONE AND IT SEEMS IT WILL TRY TO CONSOLIDATE NEAR THIS ZONE FOR A WHILE WITH THE UPPER REGION HAVING RESISTANCES AT 24/27 AND THE LOWER REGION AT 20/18.IT WILL TEST THESE LEVELS MULTIPLE TIMES IN FUTURE BEFORE GIVING A FINAL BREAKOUT.

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GRASIM HAS BEEN TRADING IN A PARALLEL CHANNEL FOR SO LONG AND NOW ITS AT THE MID ZONE OF THIS CHANNEL WHICH IN THE PAST HAS ACTED AS A SUPPORT AND RESISTANCE BOTH.SO IF GRASIM BREAKS TODAY'S HIGH ON MONDAY IT IS A LONG AND CAN MOVE NEAR THE UPPER END OF THE CHANNEL BUT IN CASE OF BREAKING THE LOW IT MIGHT RETRACE BACK TO THE DOWN END OF THE CHANNEL.

daddycool123 Updated 

HINDUNILVR HAS MANAGED TO GIVE A CLOSE ABOVE 2000 AFTER STRUGGLING FOR PAST 6 TRADING SESSION BUT LONGS CAN BE INITIATED ONLY ABOVE 2020 FOR A TARGET OF 2094 AND 2161.TILL THEN KEEP IT ON WATCHLIST AND HAVE PATIENCE.

daddycool123 Updated 

NATIONALUM HAS FORMED A DESCENDING TRIANGLE PATTERN AND A SMALL RETRACEMENT TILL 29/30 CAN'T BE RULED OUT BUT I THINK A STRONG SUPPLY WILL EMERGE NEAR THIS ZONE AS ITS THE TRENDLINE RESISTANCE WHICH IS CONTINUOUSLY BEING RESPECTED AND CAN BE USED TO CREATE A SHORTING OPPORTUNITY AS IT CAN BREAK THE EARLIER LOWS OF 24.5 IN NEAR FUTURE.

daddycool123 Updated 

ZEEL IS CONTINUOUSLY RESPECTING THE CHANNEL ON UPPER AS WELL AS LOWER END .TODAY I HAVE ALREADY DONE A BTST AT 161 LEVELS . NEARBY HURDLES TO WATCH FOR ARE 173 AND 181 RESPECTIVELY.

daddycool123 Updated 

banknifty has cleared its first resistance near 17825 and with good volume,next big resistance lies near 19045/19540.19540 will act as a very good trendline resistance closing above this level will lead to 20150/21100.

daddycool123 Updated 

HDFCBANK IS GIVING A RETRACEMENT BACK TO ITS BIG HURDLES NEAR 960 AND 1000.ONE CAN GO LONG AT CMP WITH A SL AT 870 FOR A TARGET OF 960/1000.BUT REMEMBER TO BOOK PROFITS NEAR THESE LEVELS.

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SRF AT PRESENT SEEMS FORMING AN INVERTED CUP AND HANDLE PATTERN.CUP FORMATION IS ALMOST COMPLETED HOPEFULLY AND HANDLE PATTERN FORMATION CAN BE CONFIRMED ONLY AFTER THE PATTERN IS RESPECTED IN NEAR DAYS. BUT IF THIS PATTERN IS SUCCESSFUL ITS A GOOD SHORT WITH A GOOD RISK REWARD TOO.FINGERS CROSSED THIS WILL BE IN MY WATCHLIST AT TOP.

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ESCORTS IS TRADING IN A CHANNEL ON WEEKLY CHARTS .JUST SEE THE CHART AND FOLLOW THE ARROWS AND IT WILL BE A HANDSOME RETURN ON ANY SIDE OF THE CHANNEL BREAKOUT OR BREAKDOWN.

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MAHINDRA HAS BEEN FORMING A RISING WEDGE PATTERN WITH RESISTANCE AT 450 (A STRONG SUPPLY ZONE). A CLOSE BELOW 400 BELOW WILL OPEN THE TARGET OF 380/330.WILL BE LOOKING FOR OPPORTUNITIES TO SHORT AFTER THE CANDLE FORMATION ON A CLOSING BASIS NEAR UPPER END OR DOWN END OF THE WEDGE.

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RADICO is at the edge of the triangle pattern.A closing above 310 will lead to target of 328(first resistance) and then 360 will be the next barrier.Failing the pattern on downside will lead a downside move till 285 which will be the first support and 250 the next major support.earning results are to be announced in 5 days so better to keep this in watchlist to...

daddycool123

DRREDDY is forming a pole and flag pattern on a daily basis with the price at upper end of the flag .The support as of now lies at 3610 .A close above the breakout range will give at least 15-20% return.Will update if i enter this trade.

daddycool123

Cumminsind has given a close at 329.7 after a strong supply zone at 343.5.The trendline support lies at 320/21 with resistance zone still entact at 343.5.A move above this will open the gates till 375 and 406.a close below 320 may lead testing of earlier lows of 280.

daddycool123 Updated 

Asian paint after giving us a sell signal near 1675 with a fall of nearly 257 points is now looking for a short covering and looks good to buy above 1580 for minimum 4-5% move as 1620 will act as a strong resistance zone.

daddycool123

Banknifty is clearly respecting 17400 zone.Shorts can be initiated only when a closing is made below this level till then its better to go long with strict sl near this zone.