In KRBL, we can clearly see a formation of the cup and handle patterns on weekly charts. It has been trading below 300 for more than one year. It has finally given closing above 300 on a weekly basis. One can add positions from a range of 300 -325, we can see 400 & 560 levels on KRBL in 2-3 months time. Keep stop loss below 225 on weekly basis.
Keep following the...
Tata Steel BSL has broken the falling trendline with volumes. It is looking good for a long position with targets of 98 and 109.5. Stoploss will be below 87 on a closing basis.
Torrent power is respecting the trendline beautifully. It can reverse from here for immediate targets of 482, and above that, it can easily go back to 508. Keep strict sl below yesterday low or @465 on a closing basis.
NTPC is respecting the trendline beautifully. It is near the trendline and can reverse from here for targets of 119 and 120.8, with sl below 117.
Above 121 closing a fresh breakout can be observed in NTPC.
SIS has formed an inverse head and shoulder pattern on the chart. Huge volumes have been traded in this script in the last two days. Also, SIS is a fundamentally strong company with very low debt. It is looking well placed on charts to make a long position. Once it crosses and sustains 478 levels it is expected to give targets of 520/576 and 615, with stop loss...
Grasim is respecting the trendline and also it is near the support of 1484. It can bounce from here for targets of 1522 and 1545. Above 1550 closing , 1600 levels can be seen in Grasim. Keep stop loss below 1480.
