It is testing all the patience of a trader. The stock is consolidating from mar'21 before giving breakout from its 5 years cup & handle pattern in nov'22, even after that it haven't gone anywhere and got resisted from its major 15 years trendline. After consolidating for almost 5 month it finally gave breakout from its major 15 years trendline in July and is again...
This is one of those time when it is not so hard to find a good breakout stock, but even after that we tend to miss-out chances and that is because we think of stock to be overbought and wait for correction (which may or may not happen). Well in these times we have to stick to only two concepts and that is RR(Risk/Reward) ratio and position...
Look into this beautiful multiyear breakout of EIHOTEL, can test the target of 370.
Reason to consider this stock:
1. Good RR ratio
2. Multi Year breakout retesting
3. Volume rise since Mar'20
4. Cup & Handle breakout
Do your own analysis, and comment below if you have any points in favor or against.
Let's discuss about one of the stock which is looking super strong on chart, it's castrolind. Anyone of us who owns an automobile or even any mechanical m/c must have came through the name of Castrol. It produces different types of lubricants for a wide variety of m/c.
If we look at its chart; It was in a downtrend since Dec'14 i.e. almost 9 years,...
It's been quite some time since I posted.
Just look at the this beautiful chart, you can find confirmation through various pattern and also can see some indication of institutional activity.
If tomorrow a small inside candle is formed then it will be best time to build position(near 600) for a target of about 45-50% with SL at 560 i.e., RR of 7.
After listing in June'21, KIMS has not move anywhere and is consolidating in a very small range since then. Recently on chart stock is looking strong as it is trading near its high from past 1 month forming a Cup & Handle pattern ready to breakout. Now look at the DII & General Public holding pattern mentioned on the chart. We can see that DII has...
You may or may not have heard of this company but one thing I am sure of is that, if you you are not superrich you must have used its product (Google it🙂). Well anyway we only consider technicals here, and on chart it is looking quite strong, let's analyze it.
1. 7 year trendline breakout with volume(refer chart).
2. Higher low and higher high...
We say market will be strong in coming days when most of stocks start looking strong on chart, one such chart is of IRB infrastructure. In IRB infrastructure we will do monthly-weekly-daily chart analysis and look at smaller time chart like 1hr and 15min to find out our entry.
Monthly : Stock is testing its 12 year long trendline and also Cup &...
Let us discuss TATAPOWER in this thread.
TATAPOWER has given fabulous 750% movement b/w May'20 and Oct'22 and since then it is in consolidation. Below I have mentioned my reason why I think it is a good time to consider this stock.
1. Price Action :
:- Stock is testing its 2 year long trendline(pl. refer chart).
:- In weekly chart last four candles...
Last day bear trap is formed in USDINR, it simply means that it will be bullish for coming few days and can go up to at least high of double top i.e.,83.10 (might break that also).
Let us decode the sentiments during this candle formation,
On 26th when this big bearish candle gives closing below last swing low, people would have shorted it taking double top in...
Now is the best time to go long in SKFINDIA. I have been tracking this stock since July'22 and it has given a fabulous one sided rally of 35% since then, it is going through consolidation from last 2 month(pl. go through chart for probable target and SL). Someone might consider it after breakout from trendline but I personally prefer a low risk...
After giving a rally of almost 140% nifty is in a rangebound market from almost 1 year, which means it is going through accumulation or distribution phase. If it is distribution then market will move downwards and can test level of 13600 but if we consider it is an accumulation phase then it can give a rally up to 21000 in coming months.
I have mentioned below my...
As we already know that few months back auto sector has given breakout from its cup & handle pattern, after giving beautiful breakout in last 2 months it has corrected a bit and now taking support near its breakout level. RSI is also giving signals for strength at current level, so the sector to go long this Diwali would be Auto. Now zooming-In, in...
Nifty is positively holding its crucial resistance zone near 17400. Today's strong closing near last 3 days high opened the gate for 18000 in coming session for nifty.
In tomorrow's session (i.e.,21st Oct) either a huge gap-up or one side rally (if opened near today's close) is expected.
NYKAA is looking very weak in chart, after testing 3rd time its 9 months long support last week it finally break down. Consecutive lower high formation after testing the support is further confirming the weakness.
Taking reverse Cup & Handle in consideration It is supposed to test 675 level in coming months.
This lately diversified Motherson company is ready to give a bullish move in coming week up to a level of 85.45. Daily chart has already given breakout from its resistance area, further zooming-in in hourly timeframe, shows breakout from cup & handle pattern with a gap-up. With auto sector looking bullish, it only further confirms the strength of up-move.
Look for multiyear breakout from cup and handle in Auto sector. All the constituents like Maruti, TML, Ashok Leyland are looking strong and are ready to give a breakout. M&M has already broken out from the cup & handle pattern which pulled the auto sector till now, and its time for other auto stocks to follow up.
As Nifty has shown rejection from its crucial resistance of 16400, it is likely that it will be sideway to negative in current and coming week with 15430 as support. Last hope for market for upward movement is if it takes support at 16214, and try to breakout from 16400 level , failure from doing so will confirm the weakness of market.