Tata Steel has been showing strength on weekly basis. A close above Rs.900 could see the stock move in uncharted territories. Buy only above Rs.900 and once Rs.900 is taken out, it will act as support.
Holding the levels of Rs.135 is very important for this one to continue its upward journey. The stock has already given great returns and looks poised for more.
LTTS has been busy with channel formation. On Friday it looked like it has given a breakout but the Resistance has held its level. Let's see if there is a breakout on Monday, it will propel the stock in a different trajectory.
This week we have an amazing Chart in the form of Gujarat Alkali. Keep Stop Loss at Rs.380 and all successive targets are marked on the chart. Gujarat Alkali is a chemical company and it deals primarily in Basic Commodity Chemicals rather than Specialty Chemicals. Thus, the business is cyclical and we must exit on technical basis rather than getting stuck in this...
BBTC looks really good after breaking out from the wedge pattern, the lower of the 2 lines on the chart is going to be your Stop Loss. About BBTC: BBTC is in the business of Tea and Coffee Plantation and has a good stake in Britannia Industries.
Bandhan Bank looks really good at these levels for accumulation for long term. The chart is quite self-explanatory. The bank is definitely coming out of a big crisis and one needs to be careful with the situation at hand. The channel should hold and it should be respected.
Jubilant Foodworks is following its long term trendline and has also tied up with Popeyes for 4 countries.
Adani Green Energy has been on a huge rise ever since the stock market bottomed out last year. It has recently given a range breakout. However, the candles that are forming right now are not very good. Therefore, one must ask whether the rally will sustain or not. Right now it is in no trade zone. If the stock sustains above its zone (clearly marked in chart) then...
Nifty has definitely respected this level. There has been no decisive breakdown here. Let's see where it holds onto ultimately. Please remember, this is a correction and not a crash! The lines drawn are my levels, Bull Markets generally respect support levels (one level here or there is normal) while Bear Markets make you respect the resistance levels.
This week's chart of the week is JSW Steel which is trading at All Time High. The Stop Loss is the resistance line that has been cut and the targets can be trailed as the stock moves up. The stock is in uncharted territories and can go the distance if the metal rally continues.
Dr. LalPath Labs is our chart of the week. The chart is pretty self explanatory and the trendline is clearly visible in this line chart. According to me this is an investment grade stock and can be even part of your portfolios. This rate looks like a good place to add position.
This week we will cover Vinati Organics as it had a very clear breakout on weekly levels. The chart is self explanatory and the company is definitely an investment grade company. Stop loss will be the downward sloping resistance line that the stock has broken which is currently around Rs.1360
BHEL is our chart of the week and it has given a good breakout above Rs. 42.45 (which is also our Stop Loss). The stock should show good long term target (3 years) of Rs. 190, otherwise one can follow the trendlines as targets that I have drawn on the chart for shorter time frame. But it is prudent to trade on confirmation and hence I would wait for...
Chart of the Week for this week is Siemens India. The stock had hit its resistance at Rs.1720 and is now heading towards the support of Rs.1565; if Rs.1565 is broken down then shorts can be added with a target of Rs.1460; otherwise one can add at the immediate support level or buy after the resistance of Rs.1720 is broken for bullish side trade.
BSE Ltd. had an inverse head and shoulder breakout and then is re-testing the breakout levels. As long as it holds Rs.590 (also our Stop Loss) it should be poised for gains. Keep first target at Rs.880 for this one. The chart looks really good and I do not see a reason for it to correct even on fundamental basis.
Tata Motors DVR looks set for gains if it closes above Rs.115 with targets of Rs.185 and Rs.208 in sight. The positional call on this one will become active only above Rs.115 and the targets might come in a few months to a year.
The stock has given a very strong breakout backed with heavy volumes. Stop Loss at Rs.95 and 1st target of Rs.128-Rs133 (target 1) and second target of Rs.160 (target 2). Keep on your radar.
Only some charts follow Fibonacci Retracement levels this beautifully. Keep a watch on this as Retracement Levels will act as good Support and Resistance levels in the future as well.