Idea posted last weekend. An Amazing move post that. Do share your inputs in any.
Ultratech has formed a beautiful trend line and has tested it twice in the last few days with any upward movement being strongly rejected. A breach of the trend line is looking like a possibility now. Any breach should give us a good momentum but since the stock will be entering any area of multiple support zones one should be cautious while setting up targets....
Gold has been forming a golden triangle and has been narrowing its range for a while now. It has been able to reject a breakdown from the structure on the previous day reversing fully and closing in the green. It still remains to be seen if it will move up and test the upper zone of the triangle. Any side breach should call for a good momentum in this precious...
HCL Tech has been consolidating in a range and is forming a potential triangle. The stock has also formed a Bearish Divergence between the price and the RSI Indicator.(While the price has been making similar highs, the RSI has been forming lower highs). The stock is still away from it's Support and Resistance areas but looking at the current market scenario, it...
HUL has been forming a triangle for quiet a while now. The markets have recently been looking weak and HUL currently is at a very crucial zone taking support at multiple support zones as well as on the 200 EMA. Any breakdown from these zones should ideally be followed with a strong price movement. The Risk Reward ratio looks pretty favourable with various EMA...
ITC was a failed trade for me the last time i updated the chart. However it still is consolidating in the same zone and is at a point of breach / reversal. The MACD indicator has been compressing for long now any confirmed reversal has to be supported by the breach of the trend line by the MACD line towards the upside. However if the MACD line continues its trend...
ACC has formed a good consolidation and has been respecting the trend line on the downside and a resistance on the upside. The consolidation looks like is coming to an end and a good move on either side should be possible on a breach of either of the trend lines. Look to trade on the breach.
After a constant uptrend ITC has been defying the market trend for the last 4-5 days and has been consolidating while the market has been making new highs. A triangle formation can be seen, however if the price breaks away to the upside, we can expect the high of 1st of June to act as a crucial resistance area and a breach of the same can take the price to 217...
Infosys. View still is intact as the previous idea the chart is updated as per the price movement in the last 3 days and as you can see the consolidation continues.
Infosys has been consolidating in a certain range now and has formed a Triangle formation, which is on the verge of a completion. A breakout on either side is highly possible as soon as tomorrow. The yellow lines can be treated as targets, even though there are certain other levels to watch out but the rally should be strong enough. They can be treated as Target...
SBI has been beaten down really bad in the last few months, with various news surrounding the largest bank in the country. The Bailout of Yes Bank being the biggest of all. Finally as the dust has settled down and the economy is looking for open up for work in a staggered manner things are looking bleakly positive if anything. However none of it matters much if we...
Infosys Stands at a crucial juncture wherein it has broken out of its trend line, and is testing another trend line stretched through from the 5th of March. A good supply zone sits at it's current level with a good demand zone somewhere around 653 levels. After its recent upmove which also broke the channel which it was creating on a daily time frame, the price...
Torrent Power has been trending higher recently following the general market trend. After forming a low at 230-240 levels it is again at its 2 month peak zone. The yellow lines are formed based on Daily time frame and the green line is for the Hourly time frame. The lines showcase the area of Support or Resistance. It gave a breakout twice from the Triangle...
Coal India has as every other stock had wild momentum and has pretty much reacted in the direction of the market as majority of the stocks have. Like a lot of stocks Coal India has also arrived at its supply zone which has held strong for over a month now. But like every other stock Coal India has a different story to tell according to the technicals. This...
Looking at the Chart ONGC looks ready for a move within a day or two. ONGC has taken quiet a hit and bounce due to the ongoing news surrounding the crude oil. With all the news surrounding the production booms / cuts which has impacted the Crude prices on a high magnitude has kept the volatility around the crude at a high level. Keeping the effect of this scenario...
ITC has retraced back from 135-140 levels twice since it has breached 180-185. Now again it stands at that crucial point. As from the chart we can see ITC tried to break the resistance only to be heavily rejected and has been consolidating ever since. This shows a Good Strong area of resistance. Again as my Charts are the yellow lines are Daily / Hourly levels and...
Power Grid looks set for a good momentum move after being in a range bound channel for a while. My rationale behind the possible strong momentum is given below: The Parallel Channel and the Blue lines shown are important levels in the monthly / Weekly time frame which shows a strong area of Resistance / Support. The Channel is an area of Indecision where the price...