rahul.u.bhagwat

rahul.u.bhagwat

Container Corp was trading in a broad Northward Channel. It has came to its Channel Support & has given a Bullish Gap & has sustained its 1st Day. The company is a relative value pick. Todays Management interview gave a +ve Guidance. The companies review with Topline +10% & Bottom line +37% & Guidance is +12% growth in enterprise & Volume. GST implementation has...

rahul.u.bhagwat

Last week Manappuram Broke out of its Weekly resistance levels & started trading in the Nortward Channel. Since Monday it tested if resistance has turned to support..? Today if it closes above 160, the new support has been held & higher prices can be expected. Also the Stochastic has been fairly resilient towards not moving below 50, a typical sign of a stock in...

rahul.u.bhagwat

IRB INFRASTRUCTURE has earlier been in a tight trading range in the weekly charts. It is showing signs of Distribution (Expansion). Yesterday it gave a breakout & a followthrough is expected since RSI is not in an overbought zone yet. I recommend shorting this stock near 230/235 zones if the RSI shows overbought reading as well in this week. Keep a Stop at 240 &...

rahul.u.bhagwat

Reliance Capital has been moving in a Northward Sloping Channel. It formed a Ascending Triangle & then gave a Brilliant Breakout Yesterday. Since the Breakout has happened with decent volumes, a small follow through is expected till 740/760 levels. The stocks behavior clearly shows that breakouts with high RSI usually undergo a slight pullback. 740/760 levels...

rahul.u.bhagwat Updated 

PC Jeweller is facing resistance at higher levels & has formed a Symmetrical Triangle. Usually Triangles react as a spring & break either support or resistance. Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle. I expect a short term Bounce towards levels of 260/266 within the triangle. Buy with a strict SL of 241.

rahul.u.bhagwat

India Cements has been in an excellent Bullish Channel for a Long Time now. Prices are moving in a sideways Channel forming a Triple Top & Ascending Triangle Formation. However, formation of a Triple Top & confluence of other resisting Trendlines gives us a short-term mildly bearish view. Sell for Targets of 194/179 levels. Stop Loss at 214.

rahul.u.bhagwat

Sell UFO Movies with a Target of 350 & SL of 397. Chart is self explanatory.

rahul.u.bhagwat

Today Titan has formed a candle that touches both the Bollinger Bands, indicating strong contraction in volatility. A break from this band in either side should ideally give a very strong move. Since the Monthly Bolinger has also given a Breakout, weekly bollinger is about to breakout, a followthrough is expected. I recommend going long, or Buying 540 CE. Dont...

rahul.u.bhagwat

Good time to Buy Enginers India at (160) these support levels. Keep a SL of 158 & look for Targets of 175 in the coming week.

rahul.u.bhagwat

Today Fortis Heath has formed a Inside Bar in a Falling Market with Huge Volumes. It looks like Fortis Health has build a Base at 142.15 levels or so. Yesterday it checked those levels where it has found support on 5 times earlier. Hence it is a strong support & expected to hold. We can buy at 150 levels and look initially for targets of 155/160/164. I suggest...

rahul.u.bhagwat Updated 

Yesterday Dabur had a Gap Up opening above its key resistance level of 296, however it closed inside the range. Today it had a Gapdown opening and it successfully climed above the resistance & closed above it. This pattern shows that strength has been building up in this counter. One can Buy at current levels for Target of 306. I expect the volume pickup &...

rahul.u.bhagwat

In the last week Lupin started moving up since it was extremely oversold. Some analysts said it could reach 1250 levels. News has also been favoring it since some drugs got approval from USFDA. It started rising & yesterday it touched an intraday high of 1170. Today the high was 1166. However the price closed in red today. I think there was some profit booking...

rahul.u.bhagwat

SRTRANSFIN has broken out of a mid term symmetrical triangle pattern with huge volume breakout. Tomorrow we could see a followthrough of this breakout. The MACD has crossed the signal line & center line signalling a buy. The DI+ has crossed over DI- signalling a buy. Buy at current levels for target of 1110/1119.5 . Watch if it gets taken out & ride along as long...

rahul.u.bhagwat

Divis Lab has formed a inverse Head & Shoulder Pattern. It saw a strong selloff on 21st March after the surprise USFDA inspection. The company has good fundamentals & some Mutual Fund houses are strong believers of its capabilities. A manufacturer of complex drugs, handled by good management makes it a strong reversal candidate. We can go long with a target of...

rahul.u.bhagwat

Sun TV has formed a double bar reversal pattern on Tuesday & Wednesday, a confirmation of reversal in trend came from a outside bar formation on Thursday+Friday. One can go Long for a Target of 850/860. Keep a stop at 802. Although the ADX is showing a non-trending phase, the stock is well known for its volatility which can move the ADX needle very quickly if the...

rahul.u.bhagwat

TATACHEMICALS has formed a double bottom around 580 levels. The stock can climb to levels of 635 Keep a STOP at 601. The risk reward is quite favorable from a traders perspective.

rahul.u.bhagwat

ITC has witnessed a strong breakout with huge FII buying in long positions. Also being a GST benefactor, this stock should be able to cross 340/360 levels easily. The stock is in a strong uptrend, Keep a Stop Near 310 & go Long. Old Market adage : Buy strength & Sell weakness.

rahul.u.bhagwat

Cipla has formed a inverse Head & Shoulder Pattern. One can go long with a target of 570/590/610 Keep a Stop Loss at 540. Traders are advised to initially stay light with positions & later on add as the volume starts picking up.