EIHOTEL HAD RECENTLY BROKEN OUT FROM A RECTANGLE PATTERN
IT WAS FOLLOWED BY A RETEST WITH DIMINSHED VOLUME
NOW PRICE HAS STARTED ITS UPMOVE . SCRIP PROVIDES GREAT RISK REWARD AND COULD BE A MULTIBAGGER TRADE
Apollo Tyres can be bought at CMP with stop loss of 105 or as per one's risk appetite.
Nearest resistances are around 133 and 142 levels so stock can face supply there and those are the price levels where we can book profits.
Also, tyre companies are in focus which can further lift up the trend of the stock.
UBL has given a breakout above its resistance with good volume. The stock looks bullish now for a movement towards 1080/1130.
RSI(14) > 60
PRICE > 50EMA
Keep SL as per your RR.
I will trail my SL after TGT1 hits.
NIFTY 50 respected both the levels as I had posted in my previous post. It ranged between 10040-10169./
Today the index opened with a significant gap up above 10100. It was however not able to hold those gains and end of day,it closed below 10100.
A close below 10000 and we could have seen a fall tomorrow. 10000 is a key psychological level and tomorrow it will...
Granules has broken out of a triangle pattern after contracting for a sometime. The stock has shown good relative strength and has reached near its 52 Week high.
It is above all the major Moving Averages (20,50,100,200)
A swing trade can be initiated once there is price action confirmation above the breakout and one can enter after a pullback.
The index has been on rise for the past few days and the bulls are charging with full force.
It has given a strong closing today near the much awaited 10,000 mark even with all the negative news hovering around us.
In the daily chart,there are gaps which have not yet been filled, and a possibility of movement towards 10100-10150 is possible once 10030/40 is...
GAIL has been showing good bullish momentum since past 3 weeks (Check weekly chart).
Price has now come near to resistance area, but there is a gap of 2-3 points which needs to be filled until a trade can be executed.
I only go long in stocks which are trading above their 50EMA and GAIL has recently crossed that level so the trend is in our favour.
DIVIS LAB made a strong close yesterday and has reached its all time high.
The trend is bullish and the stock has no further upward resistance which could mean a good long entry for both swing as well as positional ,riding the trend and trailing your stop loss.
Trade will be valid only on bullish 75CB and further price action confirmations.
Here's the daily...
The CNX Pharma Index is aiming towards the 10,000 mark and Sunpharma seems good to reach 500+ levels soon.
In 75min CB, the price was unable to close above its resistance. If the resistance is broken now, an upmove towards 490-495 can be seen.
Above 490 ,the next resistance zone is around 504 level.
A long trade will be initiated only if the resistance is...
INFOEDGE has given a breakout from the trendline, but higher prices were rejected and stock has now closed below the supply zone.
Stock has also been able to withstand the market crash and has shown good relative strength.
It is trading above all major EMAs. (20,50,100,200).
Since the trend is bullish,only long trades should be initiated in this...
ITC has given a breakout above 195 level and closed strongly on DCB.
On monday,if the index trend is up, we can expect a move towards 205 level this week.
Any correction in the price can bring it further down towards the upper line from where more quantities can be added upon price action confirmations.
All validations given as per setup :
Grasim broke out of its triangle pattern today and opened gap up.
As of now,the stock is retracing back to its upper trendline and it can provide a good opportunity for a swing trade with 3%/5% targets depending on the RR.
Trade will be initiated when pullback occurs. NSE:GRASIM
Vaibhav Global has shown good relative strength in past few weeks.
Now the stock is trading near an important resistance level and has given a good bullish close today.
We can expect a further 5-8% move if there is a breakout from resistance.
T1 will be 3%
T2 will be around 1180
Will ride the trend later on if price goes above 1180 level and trail my SL using...
M&M has given a breakout from its triangle pattern and was 4.40% up after today's session.
If there is a retracement back to the 415/420 level it could be a good oppurtunity to enter the trade.
After the breakout the stock has potential to reach 449 level soon.
- KEEP TARGET AND SL AS PER YOUR RR
-THIS IS NOT A RECOMMENDATION AND TRADE AS PER YOUR OWN RISK. OTC:MAHMF
PEL gave a clear breakout from its triangle pattern and thereafter it came back to retest the trendline .
It is facing resistance at 960 levels and a candle closing above those levels can result in a further strong move.
Disc: Entered long on 21/05at 928 level. Exited 60% qty at 960. Holding rest quantity and trailing SL using ATR NSE:PEL
United Spirits gave a strong breakout from its triangle pattern, and has given a 7% move.
It is facing resistance at 610/612 levels.
Stock might consolidate around these levels for sometime before making another upmove towards 650. NSE:MCDOWELL_N
CIPLA has been trading in a zone for the past 42 days.
This might continue for some more days,but a big move is expected whenever is breakouts or breakdowns from this zone.
Will trade with 1:3 RR NSE:CIPLA
More chances of breakout are there as CNX Pharma is bullish and it might reach 10k levels soon.
Keep a look out on pharma stocks especially :