sandeepbalachandran

sandeepbalachandran

The recent dip in the Nifty index should be seen as a healthy market correction rather than a crash. Corrections are a natural part of any market cycle, helping to recalibrate overvalued stocks and present opportunities for long-term investors. While short-term volatility may cause concern, it’s essential to focus on the broader trend. Key support levels are...

sandeepbalachandran

Devyani International is currently making higher lows, as indicated by the trend line. The stock has established strong support at 142, with resistance at 203. After two failed breakout attempts, the question remains: will the third succeed or will it pull back to support? Minor resistance at 179 has now turned into support. However, it is important to note that...

sandeepbalachandran

Technical Analysis of Jamna Auto: Jamna Auto is currently trading above its 100-Day EMA (Green), but uncertainty looms over whether this support level will hold. The weekly chart shows an increase in seller momentum, raising the likelihood of a downside move. Should the stock break and close below the first support level or even the 100-Day EMA on the weekly...

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Technical Analysis of KRBL: KRBL is currently showcasing significant increase in trading volume, accompanied by a rise in weekly momentum. The price remains constricted within the range of 270 and 330, indicating a phase of consolidation. The stock is likely to experience minor fluctuations before making a potential upward move. Key resistance points, R1, R2, and...

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Technical Analysis of Kansai Nerolac Paints: Nerolac Paints accumulation phase was followed by a healthy 10% move with high trading volumes. The stock has also demonstrated strength in weekly momentum, with above-average post-breakout volumes, also referred to as supporting volumes, indicating sustained buyer interest. A minor resistance at 300 has now turned...

sandeepbalachandran

Technical Analysis of Bandhan Bank: Bandhan Bank is currently in an accumulation phase, characterized by relatively high trading volumes. The stock is showing strong weekly momentum, suggesting potential upward movement. Key resistance levels have been identified, with Resistance 1 at 258 and Resistance 2 at 345. However, with the Nifty index trading at its peak,...

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Technical Analysis of Aavas Financiers: Aavas Financiers has been in a downtrend since January 2022, with strong initial support levels established at 1,297. The stock is facing resistance at four key levels: 1,815 (R1), 2,044 (R2), 2,416 (R3), and 3,000 (R4). Notably, the stock is trading above the 200-week EMA, which is a positive technical sign, but it may...

sandeepbalachandran

Since October 2021, SBI Cards and Payments has been on a downward trajectory, eventually finding support at 690. However, the weekly chart suggests the stock may be entering an accumulation phase. Since January 2024, the price has been fluctuating between a low of 690 and a high of 760, which could indicate consolidation as buyers gradually accumulate shares....

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Technical Analysis of Expleo Solutions: Expleo Solutions' price has been range-bound for over two years, specifically 847 days. The peak it reached between May 2023 and August 2023 is considered an outlier, as the stock has since reverted to its prior trading range. Despite this, the stock has experienced a notable 55% increase in trading volume, from 6.2...

sandeepbalachandran

Technical Analysis: Over the past year, significant buyer interest has been evident in trading volumes, even as the stock price has been consolidating. The price has consistently maintained support at 90 and is currently fluctuating between 99 and 115, suggesting a phase of accumulation. The positive trading volumes further indicate strong buyer interest. From a...

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Technical Analysis: Over the past year, the stock has maintained stability without experiencing any significant price dips. Notably, the price has been trading close to the 21-day Exponential Moving Average (EMA), while gaining solid buyer momentum on the weekly chart. Buyer momentum on the monthly chart also appears positive, reinforcing the overall bullish...

sandeepbalachandran

Technical Analysis of Rain : Over the past two years, Rain's price has been in a consolidation phase following a significant 300% increase from April 2020 to July 2021. It's important to note that this price surge occurred alongside a broader market rally during the same period. Positive Indicators : The weekly and monthly charts highlight some encouraging...

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Technical Analysis Overview : The stock price has been fluctuating within a range of 236 to 290, with a well-established support level at 220. Recently, there has been a notable 60% increase in weekly trading volume compared to previous weeks. Additionally, three key resistance levels /targets (R1, R2, and R3) have been identified. Positive Indicators : 1. ...

sandeepbalachandran Updated 

Running in a parallel channel. Has tried to breakout multiple times only to fall back to the demand zone. Will it give a breakout this time? Maybe, maybe not! Should you invest? I cannot provide an answer to this. That is for you to bet on! You can risk a small amount by trading it now or you can wait for it to break and close above level 480 to initiate a...

sandeepbalachandran Updated 

The chart says it all! Trade small since the market is still extremely volatile! Happy Trading!

sandeepbalachandran

Strong stock that is close to oversold on the monthly and weekly. Currently sitting in a strong demand zone. ====== Not investment advice. I am only sharing what I see and understand. How you take this trade is up to you! Happy Trading!

sandeepbalachandran

A rising wedge basically signifies a probable end to an uptrend. However, we have been wrong a number of times. But in such irrational and nuclear times a break in trend can signify a massive fall in the price of a stock. Even though this stock looks strong, the monthly timeframe looks extremely weak. Should this weekly support break, we can clearly expect HAL to...

sandeepbalachandran

Tata Consumer would have been an excellent pick for a swing but with Nations preparing for a probable Nuclear strike I wouldn't suggest going long at the moment. This script looks excellent for a quick scalp. The first hour might see a correction but once the script starts moving, it's likely to gain a good upward momentum. Remember - the first hour is crucial....