vipulmehta817

vipulmehta817

Nifty CPSE Index is trading near its all-time high (ATH) zone of 2800. The index has touched 2800 zone multiple times in the last 8 years since 2014. The index hit 2800 zone in Sep'22 and has retraced from the highs. Will it break this decisive resistance zone this time and reach to new highs this time?

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AXISBANK 75m chart is exhibiting a cup and handle bottom formation within a broader tilted Head and Shoulders formation. Bulls and bears fighting for dominance, although bulls seem to be winning with this cup and handle in place. Would be interesting next few days to see which side the tide turns and therefore which side do we need to turn and enter our position.

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MANAPPURAM has successfully taken support at its long-term trendline for the last 6 years. The stock has touched this trendline and bounced off of it every two years since December 2016 (as shown in the chart). Another bounce happened in May 2022 and the price is still in a buy range. This looks like a good place for accumulation. Price targets can be 126, 145,...

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JPYINR currency spot pair has formed a head and shoulders bottom on the 4H time frame. The price broke out of the resistance line today. It would make sense go long on a retracement back to the trendline for a measured move target of 0.60 on the spot pair.

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SUNPHARMA is breaking down from its long-term channel. It consolidated in the form of a triangle and is now seemingly breaking down from the base of the triangle. The 200DMA is also being rejected. A fall to 735 zone is possible on the stock.

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Nifty chart on 75m time frame is exhibiting cup and handle breakout. We can expect a retest of this breakout back to 15900 zone post which price can move fast toward measured move target of 16600.

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The relative strength (ratio) chart of Nifty to S&P 500 (NIFTY/SPX) has hit its long-term resistance once again and has been consolidating in that area for some time now. Breakdown from this consolidation can take the Nifty/SPX back down to previous horizontal support. Note: This is for educational purpose only as the ratio itself is not tradeable and to place...

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The US Dollar Index, DXY, is bouncing off its 50SMA (red) on the daily chart. This looks like a sign of strength in the US Dollar as it seems folks are buying this dip and a successful bounce on 50SMA can take the price back to previous highs of 105 on the DXY.

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EURUSD has formed head and shoulders on 4H chart. Breakout, retracement leg is complete as well. Conditions seem ripe for H&S bullish continuation push upwards. Measured move target: 1.08.

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EURINR spot pair has formed inverted head and shoulders on the 2H chart. The currency pair is breaking out of that formation. We can wait for a retracement to enter long for a measured move target of 83.5.

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HDFCBANK has formed Head & Shoulders pattern on the weekly chart and is breaking down from its trendline at 1250 zone. Breakdown from here can take the price all the way to measured move target of 990-1000. Note that 200WMA may also act as support at this 1250 zone and we may see the price halting here, hence 1250 is a crucial support zone for the stock. If held,...

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VEDL has formed head and shoulders pattern on a trendline on Hourly chart. We wait for the trendline support at 390 to be broken for the selling pressure to take steam. Once broken, we can expect price to reach the measured move target of 350.

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Price action in Vedanta (NSE: VEDL) looks strong as seen on this monthly chart. The stock seems to have broken out of this tilted trendline and is heading toward All-time high of 495-500 zone. Long can be initiated above 385 for 495 as the target. SL may be kept at Jan'22 low of 307. Note that this is monthly chart and hence target & stop loss are relatively big....

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RAMCOCEM has formed extended head and shoulders on 1D chart along the 920 baseline. Breakdown from here can be significant hence caution suggested for longs. No fresh shorts yet as the trendline is not broken. If the baseline is broken, the stock can see a measured move fall toward 750.

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Colgate Palmolive (COLPAL) has been trading in a 7-year long parallel channel and is now at the base of the channel. The stock is also trading near its 200 week moving average (green) for the last few weeks. The stock has never fallen below this 200WMA support in its life. As an example, during the Mar'2020 fall, the stock took support at 200WMA and bounced from...

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HINDUNILVR has bounced off its long-term trendline support. The line has been respected for over three years, including the Mar'2020 fall. Looks like the stock is in an ideal buying zone. Target can be kept at 2525/2800, closing below 2250 can be a safe stop loss for the stock.

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DISHTV broke out of its cup and handle pattern on the weekly chart in Sep'21. The stock has completed the Breakout-retest-continuation cycle and is now expected to continue in the direction of the breakout with measured move and 200WMA as price target of 27. Stop loss if the stock breaches 16.

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SBI has broken out of its bullish flag consolidation zone on the weekly chart. This is also a breakout away from the 1.618 Fib zone. We expect bullish push in the stock in the coming weeks with 670 as the measured move as well as next Fib zone target.