Nifty formed a bullish flag pattern followed by a consolidation before a breakout to reach the top of the flag.
Further consolidation was seen in the ~11800-12000 range.
Nifty has witnessed a breakout from this range and is thefore expected to resume its upmove to the target of 12775 given the length of the Flag Pole.
This is ofcourse going to be a swing...
Glenmark has shown a bullish reversal on the back of very large volumes. If this trend continues, it could possibly be the bottom for a long time to come.
Long can be initiated for a medium term trade.
Target 1: 500.
Stop Loss: 310.
Maruti completed a bull phase with supply seen in the 8450 - 10000 rectangle zone.
The scrip appears to be breaking out of a year long downward channel move on the back of rising demand as seen in the volume with reasonable accumulation.
Stop Loss: 6650
Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.
RSI(14) indicates a build-up in strength.
Swing Trade with horizon of about 3 months.
Target: Rs. 2200.
Hindustan Unilever has seen about 10 months of consolidation followed by a flag breakout. A close above the downward channel flag could mean a possibility of higher levels to come. The target will be the distance between the base and top of the flag pole (approx. Rs. 200).
Support is seen at Rs. 1920.
Bajaj finance continues its bullish trend.
Accumulation led to a Flag Breakout.
Consolidation at Flag is progressing within rectangle. Morning Star formation shows a bullish reversal may be forthcoming.
If the next candle opens in the green, higher levels should be expected.
Stop Loss should be maintained @3820.
Whirlpool has remained in an accumulation rectangle zone for almost a year preceeded by over 2 years of bull run. The scrip has seen some supply that was absorbed and has been followed by a relatively higher volume breakout on the weekly charts. There appears to be strength in the uptrend.
Longs may be initiated on dips (closer to EMA 9 on the weekly charts)....