Shorabh_Jain

Shorabh_Jain

#Metropolis. Some points for a positive long view: 1.⁠ ⁠Came out from 2 years of consolidation. 2.⁠ ⁠Gave a weekly close above the previous major resistance. 3.⁠ ⁠Above all EMA’s. 4.⁠ ⁠Weekly & Daily RSI above 60.

Shorabh_Jain

Interglobe aviation is breaking down from a bearish wedges pattern with classic bearish divergence of Higher High and Higher Low. Targets: 3930 / 3800

Shorabh_Jain Updated 

Dixon Tech is ready to resume its uptrend. Flag and Pole pattern formation is visible on the chart. It's a trend continuation pattern. Levels are marked on the chart.

Shorabh_Jain

IRFC is forming a cup pattern on its daily chart. Daily closing above 195 may lead the stock towards 250/260. Good Volume build-up is also visible.

Shorabh_Jain

Trent is breaking out of the cup and handle pattern after a four weeks of consolidation. As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days to four weeks,...

Shorabh_Jain

Ultracemco is broken out of flag and pole pattern and may give a good long run in the coming month. Entry: 10,200 Stoploss: 9800 Targets: 11,100 & 12,000

Shorabh_Jain Updated 

We can see that the Nifty 50 has reversed from its ATH and formed a similar pattern as it was in March 2024. Bearish divergence and bearish wedges with a similar trend setup in BankNifty. If nifty and bank nifty both move in a similar trend we see a smooth one-direction move. Thursday we may see a gap down opening which could be a strong indication of the...

Shorabh_Jain

Coal India has broken the major support trendline. Entry: 442-440 Targets: 405-400 Stoploss: 449

Shorabh_Jain

Banknifty is forming rising wedges and bearish divergence on a monthly chart. Bearish divergence: price forming a higher high and indicator forming a lower high at the resistance level. This combination can be very aggressive and can push the market down at a very fast pace. The Initial gap between the trendline is 51.8% in 3 months. If this breakdown happens,...

Shorabh_Jain

NIFTY IT Index has given a breakdown of the Inverted cup and handle pattern, thus making the IT sector weak and bearish. Major IT stocks have given a breakdown. Example: Infosys, Wipro, Coforge, Mphasis. This script has also broken out of a descending triangle pattern. This pattern is considered as one of the most aggressive patterns. If this breakdown is...

Shorabh_Jain

IDFC FIRST BANK has formed falling wedges and a bullish flag and pole pattern. Today it has broken out again after the retest, taking support from the support trendline. One can initiate a long position in this counter with mentioned: Entry, stop loss & Targets.

Shorabh_Jain Updated 

Nifty 50 Index has formed rising wedges and a bearish divergence on 2 hourly chart. Breakdown from 22620 levels may result in a significant correction in this index. Entry: 22620 Stoploss: 22720 Targets: 22475, 22333, 22130.

Shorabh_Jain

This script is trading below 20 & 50 MA, with weakness and downtrend visible on the chart. The script has also formed a descending triangle pattern. A breakdown of this triangle may lead to a correction. Entry and target levels are marked on the chart. Stoploss is to be placed above the previous swing high. NIFTY PHARMA INDEX is also weak.

Shorabh_Jain

Nifty 50 Nifty has been facing resistance multiple times at the upper trendline levels, which indicates that this resistance zone is now weaker and since 20th March it has been observed that Nifty has been forming higher lows which can be seen along the rising trendline, as denoted on the chart. In the upcoming 1 or 2 trading days, if Nifty breaks and sustains...

Shorabh_Jain

Coal India has been under a consolidation area for the past 2 trading days. If this stock breaks and sustains below this zone a short trade setup will activate. It has formed a rising wedges pattern. Breakdown will lead to a short side move. Entry: 445 Stoploss: 450 Target: 430, 417

Shorabh_Jain

REC is breaking out of falling wedges. A successful breakout may result in a 20% upmove in the coming days.

Shorabh_Jain

Zomato is forming an inverted Head and Shoulder pattern. Breakout level: Above 195 Target: 225-228. Stoploss: Below swing low, after breakout.

Shorabh_Jain

If the Nifty Index sustains above all-time high, we may get a wonderful upside move.