Good weekly close would be nice. 972 above will head to the final target. Final leg.
Stylam Industries under the industry Plywood Boards/Laminates is engaged in the manufacturing of decorative laminates exports its products primarily to European and South East Asian countries. Company has excellent fundamentals. Improved ROCE, Debtor & inventory days along with working capital. Stock looking to breakout trendline in chart. RSI already brokeout...
Gas distribution sector breakout. RSI yet to breakout in that sector. And Likhitha is indeed good company with excellent fundamentals. In this bull run, many stocks emerge cup & handle pattern. Many stocks forming H&S bearish pattern but negate it in right shoulder. This one is also like that. Another eg. shriram pistons. Likhitha getting bullish. Stock has long way to go.
If this index is observed, price has taken support of 23.6% Fib level of pullbacks twice after significant rise since 2020. Currently price is near the 261.8% Fib Level (15259.65) drawn between Jan 17 '22 top to Jun 20 '22 bottom So far price couldn't break that resistance. Feb 5th and Apr 8 in weekly chart. Last 4 days in daily chart also isn't convincing....
IEX took support at 117 which is 61.8% Fib Level. Another support formed at 130. Chart & RSI is about to breakout.
Looks like total market index is in consolidation zone. Weekly Candlestick showing evening star bearish pattern. RSI(34) is below it's moving average
Appears to be Jewellery custom index breaking down from parallel channel
Polycab leader of cables. Custom index created among Kei, Polycab, RRKables, Fincables.
Given that Gas distribution is breaking out, a perspective of Petronet LNG on monthly chart. Currently Wave 2 to 3 in progress.
Bigger the base, Bigger the target. H&S negated. Disclosure: Invested. Position increased
Head and Shoulder is a bearing pattern. ACI seems to be negating H&S pattern by breaking the trendline in chart & RSI in daily chart with volume. Trendline between head & right shoulder top yet to be broken. Closing above 690 (Right shoulder) would confirm that bearish pattern is negated
Demat account hits new high in FY24, 31 lakh more additions in March Rectangle box consolidation and flag breakout with good volume. Targets in chart. Could see breakout on Weekly RSI on zooming very close. If chart adjusted for dividends, Weekly RSI breakout is visible. 35% upside potential.
Custom index on mineral breaking out in chart. RSI(34) yet to breakout
Chemicals custom index made on following stocks by top M.cap and also some fundamentally good companies Pidilite, SRF, Linde, Flurochem, FCL, Deepak nitrite, GHCL, ACI
Silverbees been moving silently. Hit ATH. Flagpole is the target. Commodities time. Metals & commodities stocks are doing good.
Petronet among gas distribution brokeout all time high. Gas distribution sector also gave trendline breakout. Fundamentals of Petronet is also good. OPM has been steadily increasing over past 4 quarters along with net profit and eps. Stellar ROE record over 10Y period
Custom index created by top M.cap companies in gas distribution sector with Adani total gas, GAIL, Gujgas, IGL, Petronet. Trendline breakout. Petronet already made ATH.
Among E-Commerce sector, Zomato, Infoedge(Naukri), FSN(Nykaa), One97(paytm), Indiamart, Easytrip, Justdial are the top 7 companies by M.Cap. Created custom index among 7 and shows clear breakout in weekly chart & RSI Among them Infoedge is profitable in 5Y period with good technical chart but high valuations