rahul.u.bhagwat

rahul.u.bhagwat Updated 

L&T looks ready for a correction after violating a parallel Channel & a short term H&S pattern. Though the stock is in a uptrend, a mild correction to 1613 levels is expected. The DI+ crossover DI- is an additional confirmation of the impending correction. Place stop loss at 1743. Book partial profits at 1613 & STAY with LIGHT short positions till 1600.

rahul.u.bhagwat

Marico has been trending quite strongly since Dec - 2016, however as the markets rejoiced the benefits of GST, the scrip has also been cautious of the initial hickupps facing the implementation of GST, the Dealer/Distribution caos & other minor issues. Marico being a player from the FMCG pack is also expected to do its own errands.. Since the Nifty itself is...

rahul.u.bhagwat

Capital First is likely to correct to level's of 583/515. The scrip has formed a Head & Shoulder pattern, breaking the neckline today. Also note the increase in volumes during the formation of Left Shoulder & Head & Diminishing volumes at left shoulder. One can go short for targets of 583/515 at current level's as Nifty itself is suggesting a corrective move to...

rahul.u.bhagwat

Union Bank has formed a Descending Triangle. A break below 148 levels can take the stock to 140/135/121 levels. Out of the Total 2,17,84,000 open positions, the stock had short built-up of 1,81,92,000 from 22nd-29th May. More 10,96,000 Shorts were added today. Looks like the Govt's move to resolve the NPA issue will take quite a long time (upto 6 months or...

rahul.u.bhagwat Updated 

ORIENT BANK has formed a symmetrical triangle pattern. A Breakout below 147 can take it to 135/120 levels. Players have already taken short positions between 23rd to 26th May. Later some positions were covered. However a fresh short position is seen in the counter today, with prices falling & OI increasing. A head scratching data is troubling me. A very High...

rahul.u.bhagwat Updated 

JSWSTEEL has formed a Ascending Triangle on the Daily Chart. If if Breaks above 206/207 we can see upsides of upto 225 However if it Breaks below 188 we may see a strong Down move upto 175. The question is which way is the right way...? Some Data points to consider are : 1. JSWSTEEL is in a uptrend but currently in sideways trend. So main trend is UP. 2. The...

rahul.u.bhagwat Updated 

COLPAL looks ready to break out of the trading range. Afterall it is the one stock that will benefit most after implementation of GST. It has not moved in proportion to HUL (HINDUNILVR). But then why the last candle is red..? In my opinion, Investors always want short term traders or rather retail Traders as such to be out with their weak hands before a...

rahul.u.bhagwat

Century Tex has been in a uptrend and after a reasonable correction has formed a base near 1066 levels. The MACD Histogram indicates loss of momentum to the downside & possible reversal to the upside. This looks like a low risk High reward Trade. One can take a 1040 Stop Loss & Trade for a Target of 1109. If the uptrend resumes, we may see these levels in 5/6...