Goodluck India is consolidating in an Ascending Triangle formation (Daily Timeframe) with volume clearly drying up. The stock, when looked at in Weekly Timeframe, forms a Nice "High Tight Flag" pattern. Any breakout at this level has a good scope for sharp rally upward.
SRTRANSFIN has just attempted a Darvas Box Breakout. However, there is a small hurdle before the stock can blast and that's a potential supply zone that has not been tested yet in the past.. The last time when Price reached this level, it rejected and retraced.. Keep this stock on the watchout and when the specified level is taken out, this stock will be in Blue...
Happiest Minds is forming a VCP at around it's ATH levels on drying up of volume.. Additionally, we can notice a RSI Bullish divergence. This confluence gives a high probability for a positive BreakOut.
Tata Chemicals is making a good pullback to the BO zone. Price had formed a base of over 100 trading sessions following which it made a Runaway Gap Breakout on huge volume. The volume has significantly dried up during the pullback. The Gap will act as a support and there is a high probability that stock may resume it's upmove.
Redington stock is forming a High Tight Flag pattern. Going long in this pattern can offer excellent Risk Reward.
A word of caution : Redington has announced 1:1 bonus issue (Record Date : 20/08/2021, Ex-Date : 18/08/2021). So if you are buying the stock, you need to factor in the effects of this Corporate Action.
JSW Steel had a great run few months ago and was in a consolidation mode the last months. It is now moving towards the upper end of the range and the stock is looking strong to make a breakout. If the stock manages to give a strong breakout, it can have a good rally from here.
Nureca is a stock that had a fantastic run of hitting continuous 5% UC soon after it got listed last year. Since then, the stock has been consolidating and now is forming a base above the 50% level of the trading range in which the stock is currently in. The company is expected to announce their quarterly results over the weekend. Conservative investors can take a...
ICICI Bank has been consolidating for a while and then it's on the verge of an All Time High breakout. The last Friday candle is on above average volume and is respecting the trendline. The quarter results released is fantastic and hence this stock has very high probability for a good breakout trade on Monday.
Jubilant Ingrevia is a recently listed company (Demerged from Jubilant Life Sciences) that has given a breakout from a base. It has given similar breakouts in the past since its listing in March. The results that came earlier this week has received a good response in the market.
After having made a spectacular rally, Globus Spirits has retraced now upto 50% fib. retracement level. The Price Volume action at this level indicates a high probability for the upmove to resume at this level. SL can be below the 61.8% level while profit target can be initially at 100% and subsequently, beyond that, as it will be in "Blue sky zone".
Praj Industries is forming a nice VCP at around it's 21 EMA. This consolidation has been happening nearly over the last one and half month. A breakout from this level can be explosive. Fundamentally, it's a very good stock. Keep an eye for the breakout and can plan the trade accordingly.
DVL has given a Strong up move in a similar fashion as how it has done in the recent past as well. The structure of the price movement in this stock indicates there is a good chance for a decent gain in the near term.