JindalSteel broke out of 610 level of resistance today. Also, this looks like breakout of Inverse Head And Shoulder Pattern which is a bullish pattern. I expect price to rise further. Entry can be initiated at current market price or at retest of the neckline at 610. Targets- 1. 700 2. 715 Stop loss- Aggressive traders/ Risk taker can put stop loss below...
As Nifty broke above it's ALL-TIME HIGH, Larsens & Turbo (#LT) also broke above its All-time high and looks bullish. Entries can be initiated when price retest 2416 with stop loss below 2372.
Keep a close eye on JSW STEEL for this week. The price is trading around it's All-Time High resistance area. Although it has broken the ATH today, on 3/7/23 but i don't trust this breakout. It seems a bit weak. Also, the resistance area is a weekly level so I would prefer a weekly breakout and a weekly candle close above 792. Also, notice price is trading in a...
The price of DRREDDY has given a breakout from 5070, which was previously a resistance level in October 2021. If the breakout gets sustained, chances are high that price may go up till:- 1. 5440 2.5610 Entry can be initiated around 5100 Stop Loss- Daily close below 4862 for conservative traders. Aggressive traders can look for daily close below 4980 as their stop loss.
The price has reached the resistance level of 355 and is consolidating there in the form of ascending triangle. If price breaks the ascending triangle and daily candle closes above 355, I would expect price to rise further till 378 and 392. Consolidation just below the resistance generally is a sign of upcoming breakout. Look at volumes just below the...
Keep a close eye on TATA CHEMICALS. The stock is trading in a symmetrical triangle. The symmetrical triangle pattern is usually a neutral pattern. Breakout will be bullish Breakdown will be bearish. I Will share entry, stop loss and target levels once, the breakout/breakdown happens.
Keep a close eye on HINDALCO. Symmetrical triangle pattern forming. If price breaks out, look for buys. If price breaks dow, look for sells.
The stock price of Naukri was trading in a weekly downtrend since October 21 and then started ranging between 4625 and 3300. This consolidation could be the accumulation phase and if this consolidation gives a bullish breakout, a new UPTREND in Naukri will begin. If weekly candle closes above 4625, NAUKRI can be a good pick for mid-term investment.
Keep an eye on MothersonSumi and add it in your watchlist. The stock is currently trading above the neckline of a weekly double bottom pattern which is a bullish reversal pattern. If we get a weekly candle close above 84-85, price can go further high atleast till 100.
TATA Communication has given a bullish breakout from a resistance level with good volumes and has also retested the resistance as new support. I expect price to continue to rise further. Aggressive traders can initiate an entry near current market price. Conservative traders can buy, once price goes above 1675. Stop loss would be daily close below the support of 1593.
LTTS is consolidating in an ascending triangle pattern. The pattern is usually a bullish continuation pattern. Chances are price might breakout on upside from the triangle. Add this stock in your watchlist and wait for the breakout.
UnitedBreweries broke out of a weekly double bottom or W pattern which is a bullish reversal pattern. Since the pattern formed and broked out on a Weekly Timeframe, I am bullish on #UBL for upcoming few weeks. Notice how price got supported and bounced from 200WMA multiple times before breaking out of the pattern. This shows long term bulls are strong. Expecting...
Bullish Inverse Head & Shoulder Breakout in IRCTC. The price has given a daily closing above the neckline with good volumes. Expecting price to rise further. Entry can be initiated now or even on retest of 658. Targets:- 1. 702 2. 740 Stop loss below 635.
Bullish Breakout in Apollo Hospitals. Expecting price to go high till 5800 Entry can be made when price retest the area between 5140-5040 Stop Loss- Below 4915 Target - 5800
Bullish Cup&Handle breakout in Ashok Leyland. Price has broken out of the 155 resistance area which also served as the neckline of cup and handle pattern. I expect price to rise further. Entry can be made on retest of 155. Stop Loss- 151 Target:- 1. 160 2.166
ITC is on fire!!!! Strong uptrend. Continuous Higher Highs and Higher Lows which shows BULLS are very strong. Very Simple Trade Idea- If Daily closes above, 452, just buy the stock and keep holding untill the uptrend is intact. JUST RIDE THE TREND UNTILL IT ENDS!!!
MAX FINANCIAL SERVICES LIMITED Double Top Breakdown\ M Pattern Breakdown at 200 Daily MA. I expect price to fall. Entry- around 675 Stop Loss- above 716 Target- 610
Bullish breakout in RAIN INDUSTRIES The price was trading in downtrend from past few weeks and getting rejected by the falling trendline. On 5 June 2023, price broke out and closed above the downtrendline signalling BULLS has stepped in and downtrend may be over. Today, on 14 June, price broke out and close above the previous Lower High resistance of 165. This...