Tradeception_

Tradeception_

ONGC weekly chart. Price has failed to breakout above the 180 level on Sep 18, May 19 and Mar 22. It has reached that level again currently. Successful break above 180 could give a quick rally to 200. Keep watch.

Tradeception_

A rising wedge type of pattern can be observed in the weekly chart of HDFC Bank. Price has failed to breakout above the 1750 level 4 times in the past 2 years. Price seems to have broken down on the weekly chart from the pattern. Supports at 1580, 1530. Good medium to long term buying opportunity if it reaches around 1410 which is the 200 EMA on the weekly.

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Nifty has formed a bearish structure on the daily chart. We could see the market at 19,200 if price action continues below 19,400 next week. Avoid longs.

Tradeception_

Bajaj Finserv weekly chart in a narrowing range. Above 1660, we could see 1900, below 1220, 1050 could be possible. Which way will this breakout? ❤ & follow for more.

Tradeception_ Updated 

USOIL has rallied from 70 to 76 after RSI divergence on the daily chart. The key challenge if upward trend has to solidify is breaking and retest of the 200EMA, which is currently at 77. Failing which, a possible return to the lows. 1. In the weekly chart, pull back to the 200EMA in Jan, has been stuck in a range between 67 and 83 since then. 2. Breakout of...

Tradeception_

1. SPX weekly chart has been trading in an upward channel since the low of Oct 22. It tried to breakout of the upper end of the channel a couple of weeks back but failed. We have now seen the rejection and a bearish bar from that location. 2. The pivot high of Jan 2023 at 4200 could act as support now. The level coincides with the bottom of the channel too, as...

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Infosys monthly chart has faced rejection from downward trendline. The uptrend on lower time frames seems unreliable. ❤ & follow for more.

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AXIS BANK monthly chart. A trendline joining the peaks of the up trend has been touched the 4th time. 1st time: March 15, Peak 654 2nd time: June 19, Peak 827 3rd time: Jan 23, Peak 970 Time for a correction? ❤ & follow for more.

Tradeception_ Updated 

UPL has been consolidating in a range between 850 and 650 on the weekly chart. It has been in triangle type pattern and has broken down on a weekly basis. A close below the upward trendline shows increasing bearish pressure. Bearish momentum should increase below the weekly low of 673. One could expect greater selling pressure if price closes below the support at...

Tradeception_

Nifty Pharma had failed to close above 14800 on the weekly chart on two occasions in 2021. Has finally given a breakout and close above the level this week. Keep an eye on pharma stocks. ❤ & follow for more.

Tradeception_ Updated 

Gail weekly chart. Price has been consolidating in a range between 112 and 82 since the beginning of 2021. Probability of breakout increases every time price hits resistance. ATH near 133 could be reached post breakout.

Tradeception_

Tata Chemicals weekly chart. An ascending triangle type pattern can be observed. Breakout about 1030 can lead price to reach previous highs around 1180. Worth keeping an eye on. ❤ & follow?

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CNX IT on the verge of breakout above 31,100. It would be worth keeping an eye on the whole IT pack. Many like TECHM have been breaking out. ❤ & follow?

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SBI Life weekly chart. Has hit the 1330 resistance for the 3rd time in the past year. Are we going to see a breakout? ❤ & follow for more.

Tradeception_

1. Kotak Bank weekly chart. Has been a late mover, but has closed with a solid bullish bar at the 1980 resistance level after a bullish RSI divergence. 2. Breakout could lead to 2200 and all time highs thereafter. ❤ & follow for more.

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Bullish bars with with good volume forming on SBI. Are we going to see a breakout and new all time highs soon? ❤ & follow.

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Adani Ports stuck in a range between 700 and 760 since 24-05-23. Which way will this breakout? ❤ & follow for more.

Tradeception_

1. Company almost debt free. 2. Stock is trading at 1.12 times its book value. 3. Good profit growth of 27.0% CAGR over last 5 years. 4. Debtor days have improved from 27.4 to 16.7 days. 5. Working capital req. reduced from 28.1 to 13.6 days. ❤ and follow?