A very obvious ELLIOT WAVE pattern can be observed on the stock !
Text book definition of a 5 wave impulse move. Stock looks to be in a 5th wave.
However, I believe that this wave's gonna be shorter one as this is driven by euphoria.
With all the sentiment about the company, short sellers are very far away and this gives support to the bulls case.
Stock is in downtrend for since 2015. A supplier to automobiles and with the downfall of auto sector, revenues are struggling.
A very favorable risk to reward trade with high probability of success.
As I have understood that no one can predict exact market movements hence risk management is the key.
I work on probabilities and they are favoring this...
ITC is holding up quite firm. Stock was in uptrend all the way till August.
However rally has been seeing exhaustion and stock is consolidating in a narrow range between 50 and 200 EMA.
Consolidation usually leads to big moves. Directions though are not specified.
50 EMA is strong support whereas 200 EMA is strong resistance.
Stock is respecting the trend...
A big breakout in HAL from the symmetrical triangle and there is plenty of upside left in here.
The stock is running aimlessly since the announcement of Indian Authorities sourcing defense equipments locally for foreseeable future.
And HAL probably is the best listed entity for this sector. Stock just broke out for a symmetrical triangle and will continue it's...
Stock has broken out of a rising wedge in an upward direction which indicates bullishness in the stock.
There is evidence of insiders coming onto stock to push the price higher and this gives strength to the bull case.
There is no immediate resistance for the stock and stock will likely continue the uptrend for near future.
This looks a good candidate for...
Looks like there is a bit of selling in the stock today following a massive upmove yesterday.
RSI is showing a clear divergence with the price which means momentum is not favoring the bulls in here.
As I said earlier, any investor would bet on IT right now(Fundamentals are strong) but traders look at charts and that's it.
Divergence in RSI and a strong...
The zone of 2270-2320 is strong resistance zone for this share. The stock is moving strong till now but this resistance can halt it's run.
The resistance is tested recently so much so by the stock that it becomes a self fulfilling prophecy.
However, this time looks different. The Nifty IT is only sector which has posted good results as a sector in this pandemic...
Looks like the #HDFCBANK is at key support levels. The levels have acted as strong resistance in past.
But The presence of 200 day EMA just below zone builds a case of support for the stock as of now.
If the levels are breached, stock can go in a downward trajectory.
However the stock has been beaten up recently due to news around Aditya Puri.
Breakdown of long term symmetrical triangle is observed on a daily time frame of TORRENT PHARMA.
The stock has breached it's 50 day EMA which was a key support.
Short entry should be triggered when the day candle closes below 2330.
For the targets at 200 day EMA which will be it's next key support.
Caution : Results in near future can...
Symmetrical Triangle observed in biocon 1H TF.
Stock is in an extended uptrend and will keep moving up for foreseeable future.
Long Entry at 332.50
Given that the Pharma is in uptrend and Biocon is leading the pack, Downside is very limited.
Also Trend is a Friend.
A Flag pattern has been observed in Bajaj Finance. The stock is in very bullish trend and will continue to do so because of strong fundamentals.
On the other hand all the technical indicators suggest a long position. Long above 3350.
Target 1: 3419
Target 2: 3500
Stop Loss: 3300
Something to pay attention: Results round the corner. A positive result will send...
On daily time frame, stock is showing really good long setup with a Symmetrical triangle which is indicative of continuation of bullish trend
Since , Nifty Pharma is taking on a ride and pharma stocks are hitting through the roof.This will be a good long bet in the bearish Market.
Initiate a long trade as soon as it breaks the last high of 2525 with a stop loss...
inverse head and shoulder pattern has seen a neckline breakout on friday on one hour candle
breaking a long term downward trend
breaching through strong resistance of 57-58 for the first time in 4 weeks