After locking a new ATH stock needs some correction to refuel to further continue the journey. One can short once the trend line is broken for the support levels as the targets with the strict stop loss.
As we can see in the chart Nifty's recovery from the bottom was range-bound and before every up move, it consolidates and will shoot up. As of today's End of the day chart marked inside a rectangular box, Nifty consolidated for the last 4 sessions and ended up at day high. Nifty has strong support at 10740-750 region below that very strong support at 10690.
As we can see in the chart Bharti Airtel has been in the consolidation range insides the wedge for a long time now, one should wait for the break out above or below the wedge pattern, most probably break out can be expected above. For any break out above ₹560 should be strict STOPLOSS.
First, the target will be around ₹600-₹605 regions.
As we saw yesterday Reliance took a dip to 1564 region which was Target 1 and bounced exactly form support to break the previous ATH of 1620 and made a new high of 1626.70, which brings back reliance in a bullish trend. As on 16/06/2020 if reliance opens in positive and holds up to previous days gains, Buy Reliance above 1627 with SL of 1623 with a long term...
as we have been tracking its been rough week for sun pharma , from more than 5 trading session sun is dangling or struggling to break the very strong resistance at 435 mark .. if its broken in comming session break out might be huge ! levels mentioned in the chart !
enjoy the session