A cup and saucer pattern, a breakout from the neckline, a retest and again a strong breakout. This sums up what we are seeing in the counter. Add to that, MACD crossover and we have a solid long trade with an interim target of 540 and a potential test of 590. Go long.
Given the sharp run up in the indices, its perhaps time for a correction. All indicators are pointing to a correction. Now, the first target on the Nifty is around 18000 which is likely to be reached by 23 May 2023 and if that zone breaks, then the max downside is till 17500 levels where we can see trendline support. This could come through as early at the 10th of June.
Profits will stick to those who stick to Pidilite. Afterall, the company manufactures Fevicol!. The Price action has an almost perfect setup for going long - double bottom, consolidation, a nice rejection candle with a long tail. Technical indicators are positive too - RSI Bullish Divergence among other indications. The blue horizontal lines are Gann Levels -...
SBI has been consolidating for a while now. It has been making consistently higher lows and a nice uptrending channel is getting formed. It is now very close to an inflection point. With a little measured risk, one can go long at current prices and add to positions above 196. Targets and SL mentioned on chart.
Harmonic pattern tell a lovely story. HDFC Life has a bullish gartley. Levels are marked on the chart. 564 is the Target. SL is 500
After the big correction, there is now renewed interest in the counter. The stock has been climbing and after correcting from a trendline resistance, the stock has broken out above the trendline again. Volumes have also been very high. There is a Cup and Handle formation. All indications now that the positive trend will continue. Go long..Price levels...
Infosys has seen a correction and a recovery. During the recovery phase, we also observe that the third Elliott impulse wave has been completed and the corrective waves have started. The last 2 weeks has seen a consolidation in the stock with a couple of attempts to both break above and below the consolidation. The counter is now seeing some exhaustion and any...
The stock has seen a nearly 10 day consolidation and has reversed to 38.2% from the previous high. On the weekly chart, there is a nice double bottom and indicators have turned positive. Other indicators like MACD and Ichimoku are also bullish.Currently the stock is at a resistance level. Market Facilitation index is also confirming a trend reversal. Any break...
Going long in Bharti Airtel after the counter had a Bullish Gartley pattern. Target of 630. SL 550. Will wait for the AGR case ruling to come through before entering.
Good strong recovery, a triangle pattern on the daily chart, stock at resistance, a very strong green candle on Friday breaking and closing above the triangle pattern, bullish RSI divergence, economic activity commencing leading to spurt in pending infra projects being taken up on priority... how many more reasons do we need to enter the stock if not already done....
Metal stocks have started staging a smart recovery with every sign of the global economy opening up post the pandemic and the resultant lockdown. Hindalco is one such counter that has seen a positive move. After a consolidation breakout, there was a triangle formation which is usually seen as a continuation pattern. The company also posted results that beat...
Enjoy the next 300 points on the Nifty. Expecting a reversal at 10500-10540 levels. This borne out by the Gartley pattern. Combine this with the OI data and seen along with other indicators, I believe that the Nifty is peaking for the time being. Nimble traders can look at booking part profits once it starts getting above 10350
Are we late in entering Canara Bank? Or do we see more upside? The stock broke from a consolidation zone when it crossed 92 and has already moved 14% in 7 sessions. After a minor correction, the stock has resumed its bullish journey which gives us greater confidence. Wave trends also indicate a strong outlook. On the weekly chart, there's an MACD crossover. Go...
We have watched the stock for sometime now and it has confirmed its intent of moving in an upward trajectory. Having broken, the stock retraced and came back to find earlier resistance as support. Also, the price is now above the Ichimoku cloud - a bullish sign... The tide seems to have changed. I will be going long above 360 with a SL of 330 and a positional...
Here's another stock that has just broken out of a range and from its all time lows...Even if it seems like a sharp upmove and conventional wisdom would advice against an entry after a 25% rally over 3 days, the value proposition is very compelling. Get long and stay long...
With multiple headwinds, the stock had corrected big time and is now on the path of recovery aided in part by the easing of the global pandemic led economic lockdown. While it was tempting to have entered the stock at levels closer to 70, we needed to be certain of the recovery path. In the past month, the stock had attempted to retrace but failed at the 23.6%...
Bogged down by a few issues, Yes Bank is gamely soldiering on. With a strong banks consortium trying its best to pull it out, there could emerge a winner. Risk reward is very favourable. Any positive news flow can propel it and give 2x return at the very least. Accumulate...Break above 31 can prove decisive in the counter.