gmaster29

gmaster29

COFORGE had a very good run in last 2 years and still has lot of steam left in it. It's currently consolidating in a bull flag patter for last few 2-3 months and testing the previous highs resistance levels. Any breakout above 6030 can be explosive, but needs support from institutional and FII volume. Can't much trust the recent price movement much during the low...

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Due to seasonal volume in year end, with most FIIs on holidays, markets generally float up to finish the year in positive note, basically a santa rally. I expect NIFTY to bounce back and test the lower end of the channel around 17379 approximately by first week of Jan or earlier, depends on when it touches the trend line , as it's inclined upwards. Overall market...

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Apollo Hospitals recently broke out of the strong resistance levels at 4700 and went on make all time high. It kissed the major upwards trend line which is a strong resistance line and pulled back little. If it doesn't break above this trend line, expect it to pull back and retest the 4700 support levels in next few months, which will also fill the gap in short...

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ITC has been a MEME stock for India stock traders as the performance of this stock has been very poor compared other stocks, even in the hyper bull run over last 18-20 months. But if you're a long investor and looking for defensive stocks with good dividend yields, wanting to preserve capital, ITC would be a good stock in the portfolio. If you notice the ITC chart...

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Bank Nifty has been in upwards bullish channel since April 2021. Currently its at key Support level - Channel lower trend line. It can either bounce back (Green line) to test upper channel trend line or break down (red line) to test support levels marked in green. Its still in bullish trend, high chances to bounce back up.

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NIFTY 50 formed a Head and Shoulder pattern recently and is also testing the major trend line support. I gave a target of 17650-17600 on Nov 9 before Dec 1st week, which we achieved on Nov 22. I see short term bearish with target of 16600 by or before Jan 2022.

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NIFTY 50 short term bearish - 17600 to 17650. It's going to test the support line trend short term around 17600-17650. If it can hold that support trend line, NIFTY 50 will continue to grind higher till Jan 2022. Whenever NIFTY breaks the support trend line, can expect downside movements and bullish trend reversal for mid term.

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In consolidation mode, might still chop around in that range bound channel. Need to take out 440 for trend reversal and breakout.

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Strong resistance at 4600 levels. Next 2-3 candles should close above that resistance levels. If not it will come back into the consolidation channel 4000-4600.

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Formed Bull Flag Pattern in last 2 years. Recent trend is bearish, it has formed Descendant triangle. Need to break the upper trend line to reverse the trend and bullish breakout.

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Adani Enterprises trying to breakout out of the consolidation phase. If the next two candles are green, expect major upwards momentum. If it fails breakout, it will come back in consolidation rectangle again. Adani gas is also trying to breakout highs, but getting rejected in last 2 days.

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ATGL breakout from side ways consolidation recently and testing the previous all time highs, got rejected twice. Volume has also been very light last 4-5 months, won't be surprised if it pulls back for further consolidation. If it breaks the above trendline for 2-3 consecutive days, expect a major upside.

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HGS break out of the wedge pattern yesterday and formed a bottoming tail, which is bulling. Volume has been above average last 2 days, showing some strength. Likely chances to fill the gap upside at 3236 from current price, as shown in green highlighter. If it fails to move upwards and comes back in the wedge pattern, it will first fill the gap down at 2788 and...

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Gapped up and tried to breakout previous high 755, but lost momentum. I see short term bearish with target 720 , 710 and 705 in next 1-2 weeks. But if it manages to close above 760 for 2-3 consecutive trading sessions, expect another upward move.

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UNG formed a Head and Should pattern in the daily chart and recently broke down the neck line. It's looking bearish and would test the 200 DMA around 13.25 and would test 12.25 in next 2-3 months.

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Muthoot Finance has been hammered recently, which caused to retest the earlier breakout zone ( Box). It also bounced off the key 200 DMA line. Trend is bearish right now and stock is getting into oversold zone. Long term investors can start accumulating at these levels. This stock will bounce off with the Gold levels getting bounced.

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IRCTC is consolidating side ways after a major break out and bull run. I expect it to test the 800 support levels for further strength. 20 DMA is bearish and will crossover 50 DMA soon. If the 800 level is breached it will test 685 Gap fill.

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CIPLA has been on upwards bullish trend channel, recently it hit the key support trend line and bounced off sharply. I except CIPLA to test the channel upper trend line , with short target of 1070-1080 in next 5-6 weeks. If it breaks above the upper trend line for 2-3 consecutive days, expect a major breakout. But so far it has been in the channel for last 18 months.