AMARAJABAT is trading in the rising channel. Stock looks to be heading towards 745-750 levels. It can be bought for a target of 745 with a stop of 695.
#MARUTI is trading in a Rising Wedge pattern for last 4 months. It touched the support line last week around 5750 & rising since then. Although it should go towards the resistance line of the wedge around 6400, lack of momentum may put obstacles. Still the stock looks to be going towards 6125. It can be bought above 5960 for targets of 6040-6100 with a stop of 5885.
DRREDDY is consolidating in the rising channel. It looks to have taken support around the center line of a trend channel. Possibilities are more that the stock will touch the resistance around 4325. The stock can be bought @ CMP 4120 for target of 4300 with a stop below 4060.
The chart shows weakness in TATASTEEL. Trading below 200 HMA, making lower highs. Looks like going to 465 levels & 465 if broken can go all the way to 410. However if closes above 510, this view will be negated.
The stock seems to have broken out of ascending triangle today around 455. The ascending triangle pattern took almost 9 months to complete. So it looks to be a strong breakout. One can go long on pullback towards 460-452 for medium to long term targets of 530-590 with stop below 415.
Hourly chart shows Yesbank at the break out point. If the stock moves above 227 & sustains there, it can move towards 245-248. So long positions can be initiated above 227 for targets of 245-248 with a stop below 222.
The chart hows the direction in which the stock looks to be heading. Long positions can be initiated in the stock at cmp for target of 130 with stop below 107 on closing basis.
LT has been moving in a channel since Jan 16. It touched the support line of the channel in the 1st half of this month & bounced off sharply from the lows around 1230. The stock now looks to be going to at least to 1475 in coming weeks & if manages to cross 1490, can go to 1560.
DMART has been outperforming stock since its listing last year. The stock has risen more than 2.5 times in less than one & half year. Lately the stock has been consolidating in a triangular pattern for last two months. It looks to be breaking out of the triangle on the up side. Down trending resistance line looks to be passing around 1600. So the stock can be...
Petronet has been in corrective phase for last 9 months. After posting an all time high of 275 in Nov' 17, the stock has corrected almost 25% in last 9 months. Last month the stock formed a perfect Doji Star on monthly chart. This month it is likely to close above last month close which will result in Bullish Engulfing candlestick pattern. Also the stock is...
Escorts has been moving in a rising channel for last one year. Recently it touched the support line of the channel around 830 & bounced off. The stock now looks to be heading towards channel resistance. Close above recent significant high of 921 can give additional booster to the view. So we recommend going long in the stock for the target of 1090 with a stop below 825.
AAPL is consolidating around 190 mark for last few trading sessions showing good strength to move further up. Now the stock is trading on the medium term rising trend line. It looks like the stock is ready to move upwards towards multiple resistance zone around 201.
HDFC Life has been consolidating in the range of 450 on the lower side & 480 on the upper side for last one month. But the Friday move above 485 gave the stock a strong weekly close. Also if we take a look at the weekly chart, we can see that the stock has taken support 21 week MA. So it looks like the stock can go towards channel resistance around 580 in coming weeks.
M&M has been the outperforming stock in the nifty 50 pack. It has participated in every rally of the index. For last 45 days the stock is consolidating in a range. Now it seems to be breaking out of the range. One can go long in the stock for targets of 1010 with sl 879.
Apollotyre has been rising steadily taking support & resistance around 21 period Bollinger Band top & bottom. Recently the stock took support around 250 near BB bottom. It looks strong to move near BB top around 308.
Axis bank is on the verge of triangular breakout on the monthly chart. If the stock gives a close above 630 on monthly chart it is a very good pick for investment with targets of 770 & 950.
If closes above 830 today, confirms close above 21 DMA Which could take the stock to channel resistance around 1510
Sunphsrma has been the leader of the falling pharma sector for last 30 months or so. The stock is falling since making an all time high in April 2015. Now the stock looks like bottomed out with a low around 460 in the month of September. The stock is trading above 21 WMA. It seems to have made a higher bottom last week around 21 WMA near 500. 14 period MFI is...