HDFC price has twice breached previous price channel. Once, it has recorded high of 1920. Second time, price has recorded lower high at 1836. An existing price channel is between 1500 to 1760. Let us now blend key announcement with technical analysis. HDFC has announced 20 bps cut in the lending rate to its existing retail loanholders. This will have some impact...
(1) Price and strength of rally: Today, TCS though has declined , strength of decline has weakened. This is demonstrated in the net change in closing price. Previous close was at 1658. Today, closing price is 1654.
(2) RSI: Let us sift price drops and corresponding RSI at the bottoming out. Historically, TCS has witnessed much higher RSI at bottom...
RSI has entered into an overbought zone. The emerging chart pattern on the other hand is bullish flag pattern which is a bullish continuation pattern. However, overbought RSI contradicts any upward move as the stocks is overbought. What price target one can therefore consider?
Price movement in February has led to formation of dragonfly doji. It has appeared sideways. Technical indicators such as RSI suggests continuation of bullish uptrend. One can get into a short term trade for moderate gains. However, it is recommended to take a long-term view only after dragonfly doji transforms into a directional candlestick - either bearish and bullish.
ICICI bank has posted impressive Q3Y20 results last week. However, market seems to have already factored optimism in the price. Because, price has not reacted to quarterly results. Overall, ICICI bank on a monthly price movement read along with RSI appears in an overbought zone. Monthly RSI is 78 ~ 80. Interestingly, price has posted 52 weeks high well before the...
Price has formed an ascending triangle pattern. This chart patterns leads to an upside going by technical studies. However, HDFC AMC price has already factored Q3Y20 results. Thus, upside is limited unless AMFI data confirms robust increase in MF contribution
It has formed an inverted bearish Cup and Handle. Of course, handle is still in the making. This chart pattern tends to trigger a bearish price movement. A limited fall in price up to 1450 is expected. This is based on depth of a cup. If you plot daily trading volume from 10th Jan to 22nd Jan then it supports or confirm the chart pattern.
Biocon price seems to have formed inverted Cup and Handle on a monthly candlestick chart. This is on the slanted price movement. Handle has reached 50% of depth of cup. Any significant upmove may invalidate inverted Cup and Handle. Need some more insights on Inverted Cup and Handle
TCS has gradually formed Double Top which is slanted. Historically, double top has a bearish outlook. A reason which may prove extraneous and therefore may invalidate Double Top could be Q3Y20 results. If results surpass majority of expectations then TCS may bouce back
Price has steadily fallen from the high. Since 2nd Dec 19, price has been moving sideways. Height of pole and length of flag are unusual. Hence, can someone please validate price movement as bearish flag pattern? What the current consolidation does offer? Trading volume is below its 5 and 20 days EMA
Price movement has formed H&S. However, right shoulder as we see at it is not pointed. Instead, it appears to be a round top in formation. Both portend a bearish outlook. RSI (daily) is 42 - Bearish. CMP is below 20 and 50 DEMA. Price movement will invalidate round top only if it moves above 3135 - 50 DEMA. Price outlook on a weekly and monthly time frames is...
Hi Everyone. SBI Life is in the midst of culminating symmetrical triangle pattern on a weekly chart pattern. A symmetrical triangle pattern is a neutral pattern. Please do visit my blog for comprehensive fundamental and technical analysis.
It is quite intriguing to see TCS price movement. Current Market Price at 2157 was achieved several times in the past since October 2018. TCS has everything going its way. Revenue growth at 9% CAGR over last 5 years. Decent RoE and RoCE. Strong Cash Flow - A hallmark of every top IT company. Yet, stock price is oscillating in a range. What could be the reasons?
Biocon has formed inverted Cup and Handle price chart. This is also known as bearish Cup and Handle. Biocon price has recently bounced back from 212 to form handle. One may want to consider it as the probable negative breakout. I am exploring the possibility of it happening. Can anyone please suggest?
Jubilant Foodworks is going through consolidation phase for 6 weeks. It has formed bullish rising flag pattern. Thus, break above the rectangle is expected. Weekly RSI is at 66.81 - strong bullish. However, one has to converge expectations based on technical indicators and charts with operating factors which would drive the price upwards. At present, we don't see...