It was one of the last stocks to show some signs of correction. But it was all to brief. Now, the stock is back above its support levels around 1450. Expect a retest of its highs in this series and in anticipation of another successful quarter
After under performing its peers, ITC is finally looking to break out of a triangle. Will be watching for a move above 247 - 24x7 :)... Go long with tgt of 274. All indicators have also started turning positive.
The consumption story is intact. And how. More happy feet with Bata and stock investors have had their sneakers on laughing and running all the way to the bank. With fresh lifetime highs, next stop 1750 - 1775 suggests Mr. Fibonacci. Haven't you done an SIP on the stock yet?
After a sharp fall, Ultratech has a made a double bottom with higher lows. After a bit of consolidation, over the past 3 days a triangle pattern has formed. This is a bullish signal. A break above the past 2 day's high will propel the stock from 3900 levels to 4100 levels. A good positional bet with a 5 day horizon. MACD Crossover and RSI divergence confirm...
The entire metal pack has been witnessing a bullish pattern this past week. I have tracking VEDL from 135 levels with a first target of 145. Now, that been achieved today and a confirmation for a breakout is now in place. Go long with a target of around 160. 145 CE is worth looking into for this series
On the 4 hr chart, it's fairly evident that Nifty is trying to make comeback. The inverted H & S pattern is playing out and once it crosses 11180, there could fresh buying. OI data is suggesting stiff resistance at 11300