1. 2Y trendline was broken in Nov 2021 and is retested this month
2. Double top formation in weekly chart. This formation was seen last time just before the crash in Mar 2020
3. Naturally market should see atleast 0.618 correction (14350) for the uptrending wave started in Apr 2020 post which only the next big rally can be triggered.
Metal index likely to test the 5000 level. This is a multi year trendline level and also weekly 55MA level.
If global economic and political situation supports, it should rise after retest. Otherwise further breakdown may be seen.
IT index is very bearish and has broken many critical levels
Broken 20MA and 50MA in Day chart levels last week
It broke 20MA level in Weekly chart today - But still have to wait and see if the close of the candle is well below the 20MA level. Fed meeting results will have a major influence.
1. 34500 - Support level + Trendline support
2. 32900 -...
HINDCOPPER is at a very critical level.
1. Trading post a W pattern formed in 2 months. Breakout didnt happen yet.
2. A broadening channel is formed at the neck level of the W pattern
3. There is a 10 Months trendline which was hit last week and currently there is a pullback
4. Price is also just below the 200MA - Again there is pullback at this...
1. Multi-year cup and handle formation is in progress
2. Currently at 21 MA zone in monthly chart & Trading at 200 MA zone in Daily chart. - So there is a strong resistance at 2770 level.
3. Morning star formation in monthly chart - Considering the current resistance level, there may be a minor dip upto 2650 level for the wick to form at the top in...
W pattern breakout happened last week and may now retest near the trendline or at the neck level of W pattern. The target based on W pattern is in sync with the all time high level. So metal stocks may be ready for next rally next week.
Tata Motors is trading near 7Y trendline.
1. A huge breakout - Low probability as volume didnt increase significantly
2. A consolidation may happen over the trendline before breakout
3. Minor correction before breakout
Overall it looks bullish for long term.
This is an analytical view based on price action.
Refer Fib levels for series of targets. Final target target is in sync with:
1.Trendline from Feb 2020
2. Pole length of Mar-May 2021
3. Fib target of 3.618 marked from the recent swing high and low
Post your view on this analysis for a healthy discussion.
Note: This is my personal view. Am not SEBI registered....
Amarajabat has fall down to Daily 55 MA. It may further fall till 700.
- retracing to 0.618 level which is 700
- Currently trading within 18 months channel and may take support at the floor of the channel which is 700
If the price doesn't break the channel downside, the price will reverse and turn bullish.
SAIL trading around the 14Y trendline. It may give a big breakout or a steady rise, It is also supported by a cup and handle pattern in Daily timeframe. overall it is bullish and looks very good for long term.
- Trading above monthly 200 MA
- Trading over 14Y trendline
- Cup & Handle formation supporting the bullish trend
Short Term target is...
TCS may go rangebound for the next 3-4 Years and is likely to trade between 3300 - 4000. Looking at the last 2 quarter results not meeting the estimate, price may consolidate for the next few years.
If TCS can give good results for the next few quarters, price may take-off again from here breaking the channel.
This is my personal analysis and am not a SEBI...
Bosch is hovering around very significant price. Multiple bullish patterns are observed. However a small pullback is expected pre/post breakout.
- 2Y head & shoulder pattern
- 6.5Y trendline
- 3. 5Y resistance line
GAIL is likely to give a 3Y trendline BO. Currently trading above 200 and 50 MA. Overall trend looks bullish. Good for positional trade if the trend continues.
Target 1: 171
Target 2: 200
Target 3: 236