WTI Crude seems to be forming a direction neutral Symmetrical Triangle Pattern. The narrowing range indicate an imminent directional move in the near term which could provide short term direction to prices. A Decisive fall below 52-50 band could indicate a breakdown from the pattern and a decisive break above 58-60 could indicate a breakout on the upside. In the...
Ajantpharm seems to be breaking out of a Falling Wedge Pattern in the Weekly charts. A decisive breakout above 1030 would confirm the pattern with targets coming in at 1160 /1300. Pattern negated below 900.
Infy seems to be stuck in a tight range between 760-800 since the past five weeks since posting results and having a gap up on July15. A directional short term move imminent out of this range. While a breakdown below 760 could give downside targets around 720 - 680 where support exists. A breakout above 800 could indicate fresh lifetime highs.
Caplipoint seems to be forming a Rounding Bottom Pattern with neckline resistance at 460. A decisive break above could open pattern targets towards 540-580. Pattern negated on a decisive fall below 400.
Jubilant seems to be trading at its historical support at 400. In the shorter time frame forming a minor inverse head and shoulder pattern with neckline around 450. A decisive breakout above this level could suggest a move towards 500-540. Mean revision from oversold levels could help along the way.
Supremeind seems to be forming a Symmetrical Triangle Pattern consolidating post a move from 550-1500. As long as 50% Fib Retracement at 1000 holds..could possibly see an upside breakout in the short to medium term towards 1200 - 1350.
McDowell-N seems to be forming a Symmetrical Triangle Pattern in the Daily charts. The nature of the pattern would classify it in the high risk trade. A breakout trade could come above 610 towards 680-750. A fall below 570-540 could negate any upside.
IDFCFirstB seems to be forming a Falling Wedge Pattern in the Daily charts. A break above 43 could signal a breakout on the upside. Could see upside towards 48-50 band. A fall below 37 could negate the pattern.
S&P 500 seems to be forming a Rising Wedge Pattern and currently trading close to crucial support at 2820-2800. A decisive break below could confirm the breakdown towards 2600 in the medium term. On the upside, any recovery is expected to face resistance in the 2900-2950.
Nestle seems to be forming a Bearish Head and Shoulders Pattern. Neckline breakdown below 11300 could potentially give a target of 10700/10500. Move above Shoulder resistance at 11750 on closing basis could negate pattern.
IGL seems to be forming a Bearish Inverse Head and Shoulders Pattern in the Daily charts with Neckline support at 295 and Shoulder resistance at 330 above which pattern is negated. Pattern Target at 240 in the short to medium term.
HDFCBank seems to be breaking down from an Upward Trending Channel below 2400. A decisive breakdown could result in a move towards 2200-2100 in the short to medium term. Upside strong resistance is seen at 2500 above which the breakdown is negated.
Hindunilvr is trading close crucial support at 1700 which coincides with an upward sloping trendline. A decisive break below could trigger a correction towards 1600-1500 in the short to medium term. This could be negated with a move above 1800.