With no negative news on cards, this stock fell significantly on 3rd August.
This might be because many traders booked profit due to negative sentiments in the market. There was no other reason for this stock to gave such fall.
Operators might also be played their part here.
Anyways, this stock bounced from the trend line and closed 7 points above the trend line.
ICICI Bank has consolidated in 340-345 range. Even when bank nifty was falling, this stock held its range and didn't fall further. I think this is a sign of bull run that is going to start once negative sentiment wipes off from the market.
At this price, one can blindly take a position for the long term. If global sentiments are positive, we can see positive...
ZEEL is sitting on support zone right now.
I think it will consolidate in this region for sometime before giving breakout.
As per chart, chances of going down are very less, one can accumulate between 140 to 150.
Axis bank has left its resistance zone and closed above the trend line.
Shortes tried to drag it down but Bulls gave all the push and took it all the way on 22nd July.
Volume suggests that bull run for this stock has started and there will be a rally above 586.
Buy this on 23rd July for intraday. Hold and go long if ends above 586.
IndusInd Bank has taken support from its bullish trend line on 22nd July.
Which means this stock is ready to test 540-550 in coming 3-4 sessions.
Immidiate target for intraday on 23rd July will be 528.
Axis bank gave a false breakout on 7th July. One who bought on the breakout must not have considered upper trend line resistance(Red).
Today it has given breakdown by breaking short term trend line(blue) and not it has sitting comfortably on support zone.
If tomorrow(15th July) market sentiments are positive then it will surely move upwards to test 430 levels...
Indusind bank gave breakout on 7th July and today it has kissed the breakout line(blue) again and moved up a bit.
It has also taken the support of uptrend line(black).
There are high chances that it will start moving up from this point. One can buy this on 15th July for intraday for the target of 530.
Overall I am bullish on this stock for the next week
Tech Mahindra will test strong resistance around 605-606.
It will be bullish if it breaks 607.
My immediate intraday view on 14th July will be bearish because from a sudden volume spike it will retrace on the next day.
Previous 4 instances of similar volumes have given retracement on the very next day so we can short it on 14th July and then asses for a breakout...
It will most probably move upward because the stock is in support zone. I feel this support is strong because the stock has consolidated in this zone for quite a while now.
LIC has increased its stake in Havells but a decrease in FPIs is a slightly negative thing. But overall I feel it's bullish trend hencforth.
It has broken long term trend on daily but it is on the short term trend line support.
If it breaks 957, it will test 947 first if it falls further it will test 937 and then will start upward movement.
If it sustain 960 level...it will start upward movement immediately.