BEL seems to be breaking out resistance line and previous day high of 98.5. It is also looking like a cup and handle. Last few days, the handle/price is trading perfectly in a down channel and about to break it. Looks above 98.5 will trend up.
Divislab can be bought above 2261 (crucial resistance). Currently it is in sideways and in down-channel (or consider a flag). Looks the day when it goes above from sideways will also cross the above trendline and crosses the resistance of 2261.
Banknifty today (13/7) formed a good bearish candle and broke the below trendline cutting the bullish trend. But it went till an important low (support) of 21982. HDFCBANK similarly took an important support near 1066. Kotakbank not yet seem to be bearish and in sideways direction. Axis bank took a good upward candle. Indusind, IDFCFIRST and Bandhanbank dint go...
Banknifty may trade in the range of 22300 to 22570. On a daily chart, it is getting squeezed at the top and almost at the below trendline. But HDFCBANK, AXISBANK and BandhanBank seems to be +ve tomorrow and other banking stocks in sideways. So, the range would be between 22300 to 22570. Below 22300 is confirmed downtrend for Banknifty for coming days.
Bandhanbank took a good support at 367. The stock seems to be taken an uptrend for tomorrow but have to cross the previous high of 402. Since there is some dilemma of some correction on Nifty/Niftybank, need a watch on the next two days. Below the trendline is downwards.
Glenmark earlier broke out after crossing a crucial resistance of 416. Stock now has come down after a huge rally and exactly took support at 416 and reversed. Go long with a stop of loss of below 416.
Axis Bank has formed multiple wedge formations since past two months. It’s a rising wedge and most likely stock should come down from 462. Expecting some correction in Nifty too, so likely it may not go up. Break above 465 is buy as 462 also seems to be an important resistance