More bulls added in Nifty today..keep loadingSo once again Nifty tried to sustain above 24800 but failed. And that’s why we saw another round of Sell-On-Rise.
I’ve been repeating this – until we get a weekly closing above this level, we need to stay cautious and avoid opening any aggressive positions in Nifty.
But today an interesting thing happened – Nifty’s Pivot has moved up to 24803 and PP is 0.12%.
1. Retail index has picked up.
2. Sellers’ volume was higher by 3M.
3. Momentum is up.
4. Trend turned more positive.
5. Market breadth is also positive.
So overall my view remains bullish. But data suggests that tomorrow neither options nor stocks will give big moves. So we can expect a sideway day with bullish tone intact.
Only those stocks with high momentum and relative strength will move – and I’ll focus on trading exactly those.
Support for tomorrow is at 24777 and resistance at 24850.
On the sector side, Metals need to be on the radar tomorrow.
NSE:BANKNIFTY trend is a bit weak, but in coming days it may get a push. A proper move will only come above 54700.
As I said clearly today – it was a day for options trades. And options performed much better than equities.
I traded NSE:MOTHERSON call options today – it gave a massive 90%+ move. Entry was a bit late but still booked good profit.
Second trade was in NSE:NIFTY options for 23rd September expiry, which I am still holding.
My other trades that performed well today:
NSE:IOLCP – +15.35%
NSE:MOBIKWIK – +10.77%
NSE:KIOCL – +4.88%, went up to +8% intraday
📊 Levels at a glance:
Nifty Pivot: 24803
Support: 24777
Resistance: 24850
Pivot Percentile: 0.12%
Bias: Bullish but cautious until 24800+ weekly close
BankNifty Support: 53500
BankNifty Resistance: 54700 (break = momentum)
Trend: Weak but possible push in coming days
Sectors on Radar: Metals, high momentum + relative strength stocks
That’s all for today. Take care and have a profitable tomorrow.
#Nifty #StockToWatch
IOLCP
#UPL CMP 632 TGT 740+ Longterm more than 15% - BY RACHIT SETHIAUPL CMP 632
TGT 740 +++
SL 600
TIMEFRAME <6M
RR > 3
Return >15% +++
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
IOLCP for Swing/Positional IOLCP Prediction for Swing/ Posional Trading
First breakout at Entry 1 level. Trendline breakout at Entry 2 and this entry 2 was retested . There is a resistance 531-539 level. You can enter in trade at Entry 3 level above 540. It can again come to 485-500 level or 465-468 level and will give upmove. You can also enter into the trade in these levels also or you can entry at any of the above levels according to your experience.
SLs- according to your entry and RRR
Targets- 531,540,570,589,641,690,744,735,845,895,945,1000,1050,1100,..
According to your “STOMACH” book your profit. Always maintain your risk management.
Watch Carefully – The Chart Explains For Itself.
Can anyone tell me which chat patterns are shown up here?
Disclaimer:
I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Request: Please support by Like, follow, comment, share and boost.
Happy trading.
About IOLCP –
IOL Chemicals & Pharmaceuticals Ltd. engages in the manufacture of organic and inorganic chemical compounds. It operates through the following geographical segments: India and Rest of the World. The company was founded on September 28, 1986 and is headquartered in Ludhiana, India.
You can follow me in social media through links given below-
IOLCP - A booming chemical stockRead chart well !!!
Company is almost debt free. Company has delivered good profit growth of 67.35% CAGR over last 5 years.
Company has a good return on equity (ROE) track record: 3 Years ROE 51.94%.
IOL Chemicals & Pharmaceuticals Ltd. engages in the manufacture of organic and inorganic chemical compounds.
It operates through the following geographical segments: India and Rest of the World.
The company was founded on September 28, 1986 and is headquartered in Ludhiana, India.
It is the largest player of Ibuprofen (pain killer) globally with a world market share of 35%.
IOLCP/INR Bullish Breakout TA Update#IOLCP/INR ( India Stock )
₹IOLCP currently broke out resistance.
And I am expecting minimum 50% from here.
If I follow chart then Target will be 100% from here.
But 50% is safe side.
Entry:- below ₹680 is good entry.
Targets:- ₹788/₹895/₹1078/₹1310
Stop Loss:- ₹599
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IOLCP - A POSSIBLE UPMOVE AHEADIOLCP
CMP 173
Long suggested above 180.
Stop once long activated 160.
Target Open.
Stock has been witnessing strong buying at every correction with good volumes
Stock has formed a sort of reverse H & S pattern.
Stock has been hovering above the monthly pivot zone.
A breakout above 180 will confirm momentum for further upside.
Strong fundamentals
Narration Quarterly YoY growth Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18
Sales 32.92% 26.36% 43.52% 48.75% 68.06% 94.18%
Operating profit 2.95% 15.57% 27.62% 23.41% 52.35% 158.08%
Net profit 319.72% 366.32% 771.29% 474.50% 383.56% 766.82%
npm 0.35% 0.65% 1.32% 0.65% -0.01% 5.10%
Narration Annual growth Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18
Sales 2.30% 17.03% -31.73% 50.87% 22.44% 38.37%
Operating Profit 29.33% 7.50% -88.25% 357.33% 98.91% 21.66%
Net profit -66.60% 107.55% -2119.70% -39.94% -111.67% 493.15%
Price to earning 39.27 18.20 (2.57) (11.77) 80.10 19.59
Price -3.72% -12.71% 72.64% 132.92% -20.59% 45.09%
npm -0.68% 0.26% -17.91% 10.43% 7.55% 2.16%
Price 23.88 20.84 35.98 83.81 66.55 96.56