PUNJAB CHEMICAL & CROP 1230, has taken good support on 200WEMA. Stock has taken support at multi yr levels of 750 and now backed up by volume burst. Already golden crossover on daily charts are there. Buy for medium term view above 1260 levels for 1400 to 1650. stop below 1050 on two day closing basis.
Kotak Bank (W) bounced from 200wema and from strong support range. Buy Kotak 1745 till 1710 for 1765/1790/1825 and 1950. Stop below 1690 on weekly closing basis. Risk reward is highly favourable for swing traders.
Dollar Index (M) chart showing distribution pattern with max support at 100-102 range. Expecting DXY to test 88 in next 8 to 15 months. Above 108 on monthly closing will reverse our projection. (High made 107)
Buy Tata power fut 211-213 for 218/220/221. Above 222 resistance area we can see levels of 250. Stock has given breakout and momentum should continue till 220 range where trendline resistance will occur. Keep stop below 207-208 range in this trade
Buy INDIA cements 190 till 178 for 202,220 and 250. Invalid below 168 on 2 day closing. Stock has held its 200 WEMA perfectly and made double bottom and now ready to for swing trade.
BUY AARTI DRUGS(W) above 510 for 40% upside. Inverse Head & Shoulder breakout confirmation will lead stock to test 620 to 700 and above. Moving averages showing golden crossover while volumes over buying side increasing exponentially.
Ambuja cements has made double top on daily charts. Once 445 levels get broken than double top formation will place ambuja near 415-420 range. Buy above 468 only for 485 to 500 levels.
JUBILIANT FOOD 520, is on verge of good breakout. Stock is above breakout levels of 500 along with 200ema and 200wema breakout. Sustaining above internal trendline resistance at 520 zone will give good positional trade for 540 to 560 first, then 615 range
Buy ONMOBILE GLOBAL 65 as good long term support range. Weekly support of 55 range respected and bounced back after oversold range. Look for 90 to 95 levels at least 40% upside
Nifty (weekly view) set for rebound as support of 19250 taken twice for 19450 to 19500 range. Nifty is forming HH and HL formation and sustaining below 25ema. Keeping stop below 19250 for long traders and look for short term bounce
Short BHARTI below 882 for 872/865/840/835. Keep stop at 900 when short trade gets active. With MACD divergence plus head and shoulder formation happening, a conditional short trade in Bharti coming
Banknifty has given breakdown below 44300 strong support which is H&S formation breakdown . Below 44000 we can see 43000 or below mark. Invalid below 45000 on weekly closing basis
REL INFRA at 200 on verge of yearly breakout after respecting 200WEMA. Above 200 next stop will be 230 to 280 gradually. Keep stop below 175 on weekly closing basis. Technical set up is fantastic
Sell JUBILIANT FOOD (W) 460-490 for 400/380/360. INVALID if stays above 510 on weekly closing basis. Perfect rounding top and falling below 200WEMA
SOM DISTTLERIES making perfect rounding pattern on big timeframe. BUY, 80 till 60 for 95/125/150. Invalid below 55 on weekly closing below
USD vs INR (W) is under clear symmetrical triangular formation. Breakout and sustained above 83 for a week will lead INR to 86 at least.
DLF now at multi year resistance zone after long rally from 360 levls, cmp 500. This rally is accompanied by low volumes while MACD and RSI also showing bearish divergence. It clearly shows profit booking coming at higher levels. Avoid going long as risk reward is absolutely not in favour
Buy NIFTY on dips till 19400(SPOT) for 19900 and 20300. We can see this range this AUG series.