On the weekly charts look at the similarity of breakouts:
- A trendline breakout as well as
- A Range breakout
The targets work out to be close to 55 levels based on past data.
Will it respect the past and oblige ? Just 6 weeks to know
As seen there is a confluence of two supports coinciding. Quick a formidable force to beat for the bears:
- Strong support between 300 to 320 formed in two time frames
- 200 day EMA coinciding with this support zone.
The stock bounced off after testing this last week. This support should hold and stock should move to test 400 levels now.
Safe pick in a toppish market ??
Adani ports is testing its previous highs of 360 levels. The volumes are decent this time around. The RSI too has made a top.
Anticipating a breakout, can go long with a stop of 350. Can get levels closer to 400 if the breakout materializes.
On weekly charts, has broken out of its upward channel with good price-volume action. Any dips towards the top end of the channel is a good entry opportunity. Looks like its following its elder peer century-ply
On the weekly chart, VST Tillers completes a 3 year consolidation with a price-volume breakout by a combination of two patterns:
- Cup and Handle
Does the confluence of patterns indicate the monsoon magic that is going to playout ?
Lets wait n see
Mirza after breaking out of 140 levels is now ready to move higher:
- Successfully tested the breakout level of 140 and bouncing back with good volumes
- Consolidating with a rounding pattern & readying for a breakout.
Can go long for targets in excess of 175 after the breakout.
ELAND after having a deep price and time correction has signaled its intent to move upwards y breaking the declining line drawn from its all time highs at 60 levels with good volumes.
The 200 day EMA is at 33 that could cause some hiccups to the upmove. Once this price cross over happens the stock can head to 38-40 levels for first targets
On the weekly charts, CANFIN Homes has confirmed the channel breakout on 16-Sep by retracing back to top end of the channel, taking support and consolidating there for 3 weeks before deciding to head higher as indicated by this week's green candle.
Long positions can be entered here with a stop placed below the breach of the upper channel line. Since stock has...
Study of the daily and hourly charts of Rane Enegines brings in a sharp similarity. Both are showing consolidations with a triangle formation extending beyound 75% of the base, indicating its ripe for a breakout. The blue resistance line also is a resistance on the daily charts. (Not sure how to show both timeframes in the same post)
The stock should either...
The recent market correction due to surgical strikes tested BBTC and it took support at its 20 day EMA as shown and quickly came back to its upward trending channel and is now indicating its firm desire to continue in this upward channel.
Another winner along with our armed forces......
NBCC after breaking out of the resistance and range of 255 to 265 ic correcting back to test the breakout.
The 20 day EMA is coinciding with the breakout level of around 265 suggesting a good chance of the breakout to hold. The stock has respected the 20 day EMA in recent past. So it looks a good level to take positions with a SL of around 255 levels for a retest...