NIFTY after forming new highs on Tuesday has been consolidating into a Pennant which gave a break out in the last hour of trade today. I'm long for a target of 9900 with stop at 9770.
Vedanta falling after 263 levels rejected for third time forming a TRIPLE TOP. A break below 257 will open downside target of 251.
HDFC Bank has been trading in a Channel, hourly time frame. With Stock falling again from the top of the channel, looks like stock will slowly move towards 1630. One can short at current levels with stop at 1665 for a target of 1630.
Asian Paints after rallying from 860 levels has given a major trendline break .... A Break & Close below 1098 levels would give confirmation of Double Top with a target of about 1015 ... Interestingly 20 EMA on Monthly time frame which has acted as strong support for the stock (since 2008) is at 1010 making it a good entry point for investors.