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Grasim Industries: Bullish Flag BreakoutGrasim Industries has formed a bullish flag pattern on the daily chart, signaling a strong continuation of the uptrend. The recent breakout is supported by high trading volume, which adds to the reliability of this pattern. Traders should watch for further upward movement as the bullish momentum continues. Proper risk management is advised, with attention to potential support levels below the breakout point. Stay tuned for updates as we monitor this promising setup.
NSE:GRASIMLong
by GlobalMarketGuru
Cummins India: Breakout Above Resistance Fuels Bullish ContinuatCummins India has followed a dynamic path, initially riding an ascending trend line, entering a phase of consolidation, and now breaking above key resistance to continue its upward trajectory. This breakout is a significant bullish signal, indicating strong buyer interest and potential for further gains. Traders should monitor for stability above this new resistance-turned-support level, which could pave the way for continued bullish momentum.
NSE:CUMMINSINDLong
by GlobalMarketGuru
BSE ltd - what's my trade plan 📈💡NSE:BSE Performance: BSE LTD's performance in the market has been stable with significant growth in its key business segments. Market Dominance: BSE LTD continues to dominate as one of the leading stock exchanges in India, dealing with a wide array of asset classes. Technological Advancements: BSE LTD has made significant technological advancements to provide efficient and robust trading systems. Revenue Streams: BSE LTD has diverse revenue streams such as transaction charges, depository charges, membership fees, and listing fees, contributing to its stable financial performance. Regulatory Compliance: BSE LTD operates under strict regulatory compliance, ensuring the interest of investors. Partnerships: BSE LTD has formed strategic partnerships globally, enhancing its market reach and influence. Investment Opportunities: With a high potential for growth, BSE LTD presents promising investment opportunities for traders and investors. disc: Invested , will look for averaging up
NSE:BSELong
by Peaceful-Weekend-Investing
Coromandel International (NSE: COROMANDEL) ForecastWait for the weekly close Based on the daily chart for Coromandel International (NSE: COROMANDEL), here is the summary: Key Levels: - Breakout Level: Around 1287-1290 Current Price: - Current Price: 1287.85 Chart Analysis: 1. Ascending Triangle Pattern: The stock has formed an ascending triangle pattern, a bullish continuation pattern, which it has recently broken out of. 2. Breakout Confirmation: The breakout from the ascending triangle indicates a potential upward move. 3. Targets: - Short-Term Target 1: 1320 - Short-Term Target 2: 1380 - Long-Term Target 1: 1450 - Long-Term Target 2: 1700 Strategy: - Entry: The stock has already broken out of the ascending triangle. A potential entry point would be on a pullback to the breakout level (around 1287-1290) or on confirmation of sustained upward momentum. - Stop Loss: Consider placing a stop loss below the breakout level, around 1260, to manage risk. - Targets: - For short-term trades, consider taking profits at 1320 and 1380. - For long-term trades, the targets are 1450 and 1700. Conclusion: - The stock has shown a strong bullish breakout from the ascending triangle pattern. The breakout suggests a continuation of the upward trend, with short-term targets at 1320 and 1380, and longer-term targets at 1450 and 1700. Monitoring the price action around the breakout level is crucial for confirming the trend and making informed trading decisions.
NSE:COROMANDELLong
by The90sTraderOfficial
Castrol India (NSE: CASTROLIND) ForecastBased on the 4-hour chart for Castrol India (NSE: CASTROLIND), here is the summary: Key Levels: - Resistance Zone: 200-210 - Support Zone: 175-185 Current Price: - Current Price: 187.65 Chart Analysis: 1. Downtrend: The stock has been in a downtrend, as indicated by the descending trendline. 2. Support Zone: The stock has reached a support zone between 175-185, where it has shown some consolidation. 3. Potential Bounce: If the stock finds strong support and breaks above the descending trendline, it could head towards the resistance zone. - Buy Target (TP): 207 4. Bearish Scenario: If the stock fails to hold the support and breaks below 182.85, it could fall further towards the lower end of the support zone. - Sell Target (TP): 175 Strategy: - Wait for Breakout and Weekly Close: It is suggested to wait for a breakout above the descending trendline and a weekly close above this level to confirm the trend reversal before entering a buy position. - Buy Position: If the stock breaks above the trendline and closes above 190 with good volume, consider buying with a target of 207. - Sell Position: If the stock breaks below the immediate support level of 182.85, consider selling with a target of 175. Conclusion: - The stock is at a critical juncture, and the next few trading sessions will be crucial in determining its direction. Monitoring the price action around the support zone and the descending trendline is essential for making informed trading decisions.
NSE:CASTROLINDShort
by The90sTraderOfficial
Coromandel International Ltd. (ticker: COROMANDEL) ForecastThe provided chart is a 4-hour candlestick chart for Coromandel International Ltd. (ticker: COROMANDEL) on the National Stock Exchange (NSE). Here’s a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: 4-hour - Data Range: From early January 2024 to late May 2024 Price Analysis: - Current Price: ₹1,246.25 - Price Movement: The stock has shown a mix of uptrend and consolidation phases within the given period. Technical Patterns and Indicators: - Double Top Formation: - The chart shows a clear double top pattern, indicating a potential bearish reversal. The double top is formed around the ₹1,280.00 level. - The two peaks marked by red arrows show the double top pattern within the resistance zone. - Support and Resistance Zones: - Resistance Zone: The area between ₹1,250.00 and ₹1,280.00 is highlighted as a resistance zone, where the price has faced selling pressure. - Support Zone: A significant support zone is marked around ₹1,120.00 to ₹1,040.00, which acted as a strong support level earlier in the year. - Trendlines: - An upward-sloping trendline can be seen connecting the higher lows from mid-March to May 2024. - Another trendline connecting the higher highs forms a rising wedge pattern, indicating a potential bearish breakout. - Sell Trigger and Target: - A sell trigger is indicated at the break below the minor support level around ₹1,230.00. - Target Price: The sell target (TP) is marked at ₹1,180.00, suggesting a bearish move towards this level after breaking the support. Key Levels: - Resistance Levels: - Immediate resistance at the double top region around ₹1,280.00. - Another resistance level within the resistance zone at ₹1,250.00. - Support Levels: - Immediate support at around ₹1,230.00, where a minor consolidation can be seen. - Further support at the major support zone around ₹1,120.00 to ₹1,040.00. Trade Setup: - Bearish Scenario: The double top formation suggests a potential bearish scenario. If the price breaks below the minor support level of ₹1,230.00 and the trendline support, a move towards the sell target at ₹1,180.00 is likely. - Bullish Scenario: For a bullish outlook, the price needs to break and sustain above the resistance zone at ₹1,280.00. This could invalidate the double top pattern and suggest further upside potential. Conclusion: The chart for Coromandel International Ltd. indicates a potential bearish scenario with the formation of a double top pattern around ₹1,280.00 and a rising wedge. A break below the immediate support level of ₹1,230.00 could trigger a move towards the sell target at ₹1,180.00. Traders should look for confirmed breakouts from key levels to make informed trading decisions. The resistance zone around ₹1,250.00 to ₹1,280.00 and the support levels at ₹1,230.00 and ₹1,120.00 to ₹1,040.00 are crucial levels to watch.
NSE:COROMANDELShort
by The90sTraderOfficial
Container Corporation of India Ltd (ticker: CONCOR) ForecastThe chart provided is a 4-hour candlestick chart for Container Corporation of India Ltd (ticker: CONCOR) on the National Stock Exchange (NSE). Here’s a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: 4-hour - Data Range: From early February 2024 to mid-June 2024 Price Analysis: - Current Price: ₹1,102.00 - Price Movement: The stock has been in an uptrend since mid-March 2024. The chart shows a series of higher highs and higher lows, indicating an uptrend. Technical Patterns and Indicators: - Elliott Wave Analysis: - The chart appears to be annotated with Elliott Wave counts. - Wave (1): The first upward wave starting from the mid-March low. - Wave (2): A corrective wave that retraced some of the gains of Wave (1). - Wave (3): A strong upward wave that broke the previous high set by Wave (1). - Wave (4): A corrective wave following Wave (3), not reaching the low of Wave (2). - Wave (5): The final upward wave, which is currently forming. - Rising Wedge Pattern: - The price action appears to be forming a rising wedge pattern, with the upper trendline connecting the highs and the lower trendline connecting the lows. - Upper Trendline Resistance: Around ₹1,125.00 to ₹1,130.00 - Lower Trendline Support: Around ₹1,065.00 to ₹1,075.00 Key Levels: - Resistance Levels: - Immediate resistance at the upper trendline of the rising wedge, approximately around ₹1,125.00 to ₹1,130.00. - Psychological resistance at ₹1,150.00. - Support Levels: - Immediate support at the lower trendline of the rising wedge, around ₹1,065.00 to ₹1,075.00. - Further support at previous swing lows near ₹1,020.00 and ₹990.00. Trade Setup: - Bullish Scenario: If the price breaks above the upper trendline of the rising wedge and sustains above this level, it could indicate further upside potential. The next resistance levels to watch would be ₹1,150.00 and beyond. - Bearish Scenario: If the price breaks below the lower trendline of the rising wedge, it could signal a potential reversal or deeper correction. The next support levels to watch would be around ₹1,020.00 and ₹990.00. Conclusion: The chart for Container Corporation of India Ltd shows the stock in an uptrend, forming an Elliott Wave pattern and a rising wedge. The key levels to watch include the resistance at the upper trendline of the wedge around ₹1,125.00 to ₹1,130.00 and the support at the lower trendline around ₹1,065.00 to ₹1,075.00. A breakout above the upper trendline could suggest further upside, while a breakdown below the lower trendline could indicate a potential reversal or correction. Traders should look for confirmed breakouts in either direction to make informed trading decisions.
NSE:CONCORShort
by The90sTraderOfficial
4
Bajaj Finance Ltd (BAJFINANCE) ForecastThe chart you have provided is a technical analysis of Bajaj Finance Ltd. on the NSE (National Stock Exchange of India). It is a daily (1D) chart with a focus on price movements and possible future trends. Here’s a detailed analysis and summary: Chart Analysis: 1. Current Price: - The current price is 6,836.90 INR. 2. Trend Lines: - There are two dotted lines indicating a downward trend, suggesting a potential breakout. - There is an upward trend line, indicating support. 3. Support and Resistance Levels: - Resistance Levels: - 7,326.70 INR (Buy TP 1) - 7,797.40 INR (Buy TP 2) - 8,536.20 INR (Buy TP 3) - Support Level: - 5,829.45 INR (Sell TP) 4. Potential Scenarios: - Upside Breakout: The chart indicates a potential upside breakout scenario, with the price moving upwards and hitting the three target prices (Buy TP 1, 2, and 3). - Downside Risk: There is also a possibility of the price falling, with a target around the 5,829.45 INR level (Sell TP). 5. Indicators: - The chart does not show specific indicators like moving averages, RSI, or MACD, but the trend lines and support/resistance levels are the key focus. 6. Price Movements: - The historical price movements show fluctuations within a defined range, with potential reversals at key support and resistance levels. Summary: - Buy Strategy: If the price breaks above the downward trend line, the suggested buy targets are 7,326.70 INR, 7,797.40 INR, and 8,536.20 INR. - Sell Strategy: If the price fails to break above the trend line and moves downward, the suggested sell target is around 5,829.45 INR. - Wait and Trade: The recommendation is to wait for a clear breakout (upwards or downwards) before making any trades. Conclusion: The chart suggests a cautious approach, waiting for a clear indication of the breakout direction. If an upward breakout occurs, there are defined targets for taking profits. If the price moves downward, there is a clear stop loss level indicated.
NSE:BAJFINANCELong
by The90sTraderOfficial