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CIPLA is in the process of forming a Head and Shoulders pattern on the Daily chart. The left Shoulder and the Head are already complete we are possibly around the right Shoulder. If true, price can retrace to the baseline at 880. Trading here can be risky as we are in the middle of pattern formation and it may be invalidated at any point above right Shoulder....

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INDIAVIX has breached its support and resistance zone of 18. If this breakout is real, VIX may turn toward the 18-25 zone which would put bearish pressure on Indian equities and indices. We will find out in coming days whether this breakout is real or if it is a fake out.

vipulmehta817 Updated 

INFY has exhibited breakout of its range and the stock closed today with retesting the breakout level on the 30 minute time frame. We will keep this stock in watch list for tomorrow, 22 Sep for a possible continuation in the direction of the breakout.

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SESHAPAPER is trading at confluence of multiple support zones: 1. Trend line support 2. 200DMA support 3. 200WMA support Confluence of all these supports makes us bullish on this stock. Longs can be initiated with 225 resistance as target.

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NIFTYIT/NIFTY relative strength chart has broken out of its bull flag on the daily chart. Going by this, we are likely to see IT stocks continue to outshine in the near future.

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GESHIPPING has formed flag structure at the support/resistance zone of 375 and has broken out of the flag. Also, this zone was previous resistance and has acted as decent support this time. 375 zone is also the 61.8 Fibonacci zone of the bigger range. The stock has found support at confluence of multiple technical indicators and has exhibited bullish candle with...

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INDIGO broke out of its 1900 ATH zone last week. The price then pulled back to 1900 and has exhibited continuation pattern today. Fresh longs may be initiated for the continuation trade in the direction of the breakout.

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BPCL broke out of its resistance zone of 480, pulled back to the support zone and has exhibited continuation from the breakout. Good time to enter Long for the next resistance zone of 550 as target.

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Crude Oil continuous futures contract on the weekly chart seems to have pulled back from its decade+ old trend line breakout. Breakout happened in Jun'21 and crude bounced back on the trend line. We have seen successful bounce from the trend line support and can expect the price to turn bullish from here on the weekly scale. If so, 76 would be the immediate target...

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DISHTV has completed a cup and handle base formation on the weekly chart. Breakout candle was formed with volume. Risky traders can start building long position while also looking for a pullback where full position may be created.

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UJJIVAN has touched its Mar'20 Covid low of 125 and has bounced off the 125 support with heavy volume. We also see bullish divergence in RSI. An ideal candidate for bottom fishing! Buy here for maximum profit potential. Less risky players can wait for higher low on the Daily chart before initiating long trades.

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HSIL has broken out of its bullish flag zone with decent volume. We can start building long position and add if the price action confirms the breakout.

vipulmehta817 Updated 

SBICARD is exhibiting reversal at multiple supports: 1. Trendline support from previous lows 2. 1.618 Fibonacci support 3. 200DMA support Further, RSI also touched 30 level and reversed. We are bullish on this stock, expecting the price to reverse to ATH of 1139.

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IGL has bounced from its Trend line support from where it has bounced multiple times in the past as well. This bounce also coincides with 200DMA support. We are bullish on this stock with 560/580 as short-term swing targets.

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NESTLEIND broke out from its year long resistance on the Daily chart and has successfully pulled back and the bullish action has resumed. Odds are in favor of the stock moving further upward toward the 6.854 Fib zone of 22850.

vipulmehta817 Updated 

BPCL is bouncing off from its 1.5 year long trend line. It has bounced off from this trend line every time since Mar'2020 fall, thus forming and re-forming the support. Also, Daily chart is exhibiting RSI divergence as well. We are bullish on this stock with 480 resistance zone as target.

vipulmehta817 Updated 

HDFCBANK is trading on the long-term trendline support since Mar'2020. The stock broke down from the trendline with a gap and is now retesting the trendline once again. Could this be a precursor to an impending fall in the stock in the coming days/weeks? We will be tracking the price closely and update this section as we get more info.

vipulmehta817 Updated 

NIFTYMETAL/NIFTY ratio chart is exhibiting retracement from its pullback from last highs. The ratio has shown successful retracement toward 0.318 Fib level and seems to have successfully bounced from that level. This is bullish development for the metal stocks in the coming weeks. We may see the price going back to the previous high and beyond.