punterpk

punterpk Updated 

One has to be brave to call a Short in this stock. It's a market favourite plus part of Nifty 50. Still looking at the chart and options data, I'm wondering if the bearish H&S pattern will actually play out, or not? But to me it looks like sell on rise until it closes above 1125. At the time of writing 2:40pm on Fri 03May'24: CMP 1097 Highest calls are at...

punterpk Updated 

RBLBANK seems breaking out of daily parallel channel at the top. Other indicators seem to support this move. The results are likely to be very good. If they announce the appointment of new Chairman of repute, this stock should fly. My Targets: 277-80, 300 short term Stop Loss: Below 250 Disclaimer: This is for educational purposes only. Follow your own risk management.

punterpk Updated 

Out of curiosity, I plotted Monthly ratio of Nifty over BankNifty. You can clearly see that this ratio is confined in a downward sloping channel over the last several years. When the ratio goes up, it means Nifty is outperforming BankNifty. Vice Versa, when the ratio goes down, it means BankNifty is outperforming Nifty. For the past 5-6 months this ratio is...

punterpk Updated 

IEX has bounced from the lower end of the parallel channels as shown with volume. Today's close above 187.5 would be a confirmation of short term bullishness in this stock. If it closes strongly, I can see many targets in the range of 190 - 200 getting hit. Close above 207 would mean even more bullishness but that seems difficult in the current market environment....

punterpk Updated 

My view explained in the Text on the chart. Although AdPo results were not that great, the stock has its own momentum. This week's moves in it will tell us a lot more on future price movements.

punterpk Updated 

TECHM has formed a clear Head and Shoulders pattern as depicted in the chart image. The neckline around 1350 is broken conclusively. I'm not a great believer of H&S always achieving targets but technically speaking, TECHM is a short with SL at recent swing high of 1300. The first target would be at Gap support line around 1163 which if & when broken should see...

punterpk Updated 

EDUCATIONAL: Weekly chart is indicating topping out pattern BUT NOT YET CONFIRMED! Only when we have a nice red candle following soon, it will be confirmed. The daily chart has two red candles. It has dropped to less than 2% from lifetime high so surely it is too early to call for a correction but this scrip will be interesting to watch if further candles...

punterpk Updated 

An Inside Bar pattern is formed when the current candle is entirely contained within the immediate previous candle. This signals hesitation of the traders to commit, and thus it could be a continuation or a reversal pattern. The trade setup emerges when the previous high/low is taken out. Buy above 740 / Sell below 680 I appreciate comments from other traders.

punterpk Updated 

Maybe I am seeing things the way I've drawn them, but it looks like GRANULES has broken below a trend line around 330. It has had a phenomenal run once it broke out above 135 and hit life time high of 438. But the H&S pattern at the end of an uptrend is a stronger pattern as AbhishekSinghCMT has taught us. Look at the recent increased volumes also which support...

punterpk

Buy for Short Term upmove. Targets: 1011, 1020, 1040 and higher. SL: 992

punterpk Updated 

Today M_M gave a Spinning Top candle at the top of a long uptrending channel that signals indecision. The volume matches previous day's volume when it shot up to the top of the channel. Since the global cues are mostly negative, a break of previous day's Hi 521/Lo 498 will give the first clue which way M_M is headed. Another clue is BB% channel seems reversing...

punterpk Updated 

SUNPHARMA this week successfully broke out of 50% fib retrenchment level at 496 with considerable volume indicating buying interest in the script. As long as it doesn't break the channel top at 477 on weekly close, we can expect it shoot up further. Levels mentioned on the chart. For educational purpose only.

punterpk Updated 

For the past several weeks, SUNPHARMA has been lodged inside a downward channel while NIFTY has tested new highs. Now within this channel it seems to have formed a highly bearish Head & Shoulders pattern whose height is measured at a mind boggling 245 points! I wonder what does the market know that we poor slobs are unaware of! Worth watching this stock's chart...

punterpk

Comments in the chart itself.

punterpk Updated 

Today's closing will decide further moves.

punterpk Updated 

AXISBANK seems to be forming some kind of complicated H&S pattern plus is trending down with lower highs. 500 looks like the baseline of H&S pattern. It could be getting ready for a big plunge? OTOH, 500 could be the lower channel from which it may bounce within the range shown. Worth watching for a breakout move either way...

punterpk Updated 

Mindtree is breaking below the lower channel as shown. If the market recovers (as today being expiry day it is expected to be volatile) then reverse the position beyond 987 and go long. But for now it looks like a short.

punterpk Updated 

DLF has broken the long term trendline on Daily chart. Shorting below 196.8 for targets 191/183 Stoploss 201.1 seems like a good trade.