Fundamentally strong, SBI Life went through an unwarranted correction during the pandemic.We have been buying at lower levels. Now, the price is at a nice resistance zone which it had tested on 2 previous occasions and finally closed above the level today. It has been making a series of higher lows. Last few days has seen a spurt in volumes. Multiple...
While we have been adding positions in Motherson Sumi first from 70 levels and again when it moved above a Triangle formation, there is a strong case for a fresh long. Friday saw some profit taking at higher levels leading to a long upper wick but the trend seems to be intact. A good buy set up can take the stock to 116 with a stop at 87. Go long for a positional trade
An inverted H & S pattern with a strong breakout... 1st target 504
A nice triangle pattern can be seen on the daily chart. There has been a huge spurt in volumes too. With global markets surging, TCS is in an interesting space. A break above 2008 is good for a long. SL plotted on the chart
After a sharp correction, Havells has recovered to form a W on the daily timeframe. A look at volumes indicate that the counter has been attracting buying interest at lower levels as is evident from above average volumes. On 18th Feb, there was a perfect reversal candle followed by a strong green candle confirming a reversal. Presently, the stock is at a...
Currently, the stock is pushing above the 38.2% retracement of the month high to low. Last 3 -4 candles have exhibited higher lows with similar tops. Volumes have been high and there's a lot of accumulation at these levels. Market Facilitation Index is indicating a reversal of the downtrend. Also, the stock has settled comfortably above a Gann resistance...
Currently, the stock is pushing above the 38.2% retracement of the month high to low. Last 3 -4 candles have exhibited higher lows with similar tops. Volumes have been high and there's a lot of accumulation at these levels. Market Facilitation Index is indicating a reversal of the downtrend. Also, the stock has settled comfortably above a Gann resistance...
Well, the charts are indicating that it is prudent to mix your investment with your drink (perhaps as a celebration). Taking trendline support. Has corrected and the stock is now moving above the 61.8% Fibonacci retracement level. Good for long with 1256 as SL and 1356 as TGT
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
27700 will act a key level. If it sustains above, then the immediate levels will be 28000 and 28200 before a fresh round of selling.
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
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...
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?
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