JUBILANT looks to be trading in a rising channel. It looks to have bounced from the support line of the channel. It can go towards the resistance line of the channel. So the stock can be bought for target of 1000.
APOLLOHOSP looks to be on the up trending support line. Risk reward ratio is in favor of the bulls. A close above 1705 will give confirmation to the view. So the stock can be bought if closes above 1705 for a target of 1825 with a stop below 1670
MRF looks to be trading in a rising channel. Currently the stock is at the support line of the channel. It can go towards the recent high around 67500 & further towards the channel resistance line around 73000. Can be bought with a stop below 60000.
#BRITANNIA looks to have taken support around 3850 & now ready to go towards 4150. A break above 4000 likely to add momentum to the stock. So it can be bought @ cmp 3930 for targets of 4000 & 4150 with a stop below 3850 on closing basis.
NIFTY looks to be trading between the contracting trend lines. Support lies around 11135 & resistance is around 11290. Short trades can be initiated in this zone with stop above & below the trend lines. Break from the zone on either side will indicate initiation of a clear trend.
BIOCON is in consistent uptrend. For last two months, it is is trading in a rising channel. Now it looks to have taken support on the channel support line around 395. A resistance turned support line also passes around 395. The stock can be bought @ cmp 409 for targets of 440-470 with a stop below 384.
BALKRISIND seems to be trading in the broadening triangle. It took support perfectly at the support line of the triangle in the March crash & now looks to be going towards the resistance line around 1450 near the all time high of the stock.
SUNPHARmA looks to be consolidating in the zone of 470-515 in converging trend lines. Break & close above 520 should take the stock towards 550. It can be bought above 520 for target of 550 with a stop below 505
SBILIFE looks to have broken above the rising wedge pattern & also a consolidation channel. Next significant resistance is around 960 followed by 1000. So the stock can be bought for target of 960 & 995 with a stop of 868.
BANKNIFTY looks to be making a lower top on the hourly chart. support for the index lies around 22150 then 21775 followed by 21450. on the upside resistance is around 22350 followed by 22725. The index should be sold below 22150 for targets of 21800-21500 with a stop of 22350. On the other hand. If moves above 22350, the index can be bought for target of 22650...
Nifty consolidated above the the strong resistance line last week making it a strong support now. On 15min chart the index has formed a flag pattern. Resistance of the flag is around 11240. break 11240 can take the index towards 11300. support for the index lies near 11130 followed by 11080. Only a move below 11160 can take the index towards 11080. Right now...