Its been observed on daily chart that Colgate Palmolive is getting strong support at 880-885 levels.
In recent past, it touched this area three times and bounce back.
For coming days, this can be watch.
Strategy: 1. Buy above 902 levels with SL of 880 for TP of 925. Risk Reward 1:1, OR
2. SELL Below 880 for 860 levels with SL of 900.
*Charts are published...
Its been observed on daily basis that Torrentpharma facing resistance 1370-1380 trend-line. This might further go down. Its a sell @ 1350-1355 levels with strict stop loss of 1375 on closing basis.
TP - 1320
SL - 1375
Its been observed that Lupin is showing channel resistance at 1510-1525. Looking at the trend, it a sell on @ 1500 (Little bounce back). This might go down. Reward: 50 Pts, Risk: 25 Pts
TP - 1450
SL - 1525 (On closing basis).
Its been observed on daily chart that DABUR india is facing resistance at 280 levels.
Also, this is 50% retrace level from last year January, showing resistance.
A SELL can be initiated below 270 for target of 260.
TP - 260
SL - 280 on closing basis.
*Chart are published for learning purpose*
Mindtree showing weakness and today closed outside the daily Channel. Considering it as breakdown, Sell can be initiated between 497-500. This might go further down.
TP - 480
SL - 505 (On closing basis)
BIOCON shown strength on 09 Jan by surging 45 points. It broke the weekly channel top line. However, interestingly, rally halted exactly on previous weekly resistance @ 1020. It will be interesting to watch here. It would be sell candidate for me if any daily candle closes below 1000 with SL of 1025 for target of 950.
Wait and watch time !
Voltas is showing weakness. Sellers came in at 50% retrace levels of 345-350. It will act as strong resistance. It might further go down.
Sell can be taken on small bounce between 340-342 levels.
On daily chart its been observed that CEAT is making double bottom @ levels of 1100-1120.
There is possibility it would bounce back and touch trendline @ 1230.
Long can be initiated in range 1150-1175
SL: 1110 on day closing basis.
*Charts are shared for learning purpose*
On daily chart, there is a channel drawn. I am not sure if we can consider it as valid channel setup. Kindly pour in your comments.
1. Buy above 1375 for Target 1 - 1400 and Target 2 - 1450. SL will be 1350 (On closing basis)
2. Sell below 1350 for Target 1 - 1300 with SL 1375 (On closing basis)
On daily chart its been observed that Ultratech Cement is trading at support level. Gap up open and closing on positive side on this level make it suitable for bounce back to higher levels. Lets see !
Target1 - 3300
Looking at the charts its been observed that CEAT has given bearish channel breakout with good volume. Also 38.2% level on Fib looks like good support. Will this sustain and touch 1360, if not broke below 1200 on closing basis? We will see.