Nestleind wave 5Good to buy above 2571 start of wave 5, has the FMCG sector of India looks bullish High possibility can go up
Nsestocks
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.
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.
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.
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.
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.
BAJAJ AUTO LTD - NSE (BAJAJ-AUTO) ForecastThe stock chart for BAJAJ AUTO LTD - NSE (BAJAJ-AUTO) reveals interesting patterns and potential trading strategies:
1. Symmetrical Triangle Pattern:
- The chart displays a symmetrical triangle formed by converging trend lines.
- This pattern suggests a continuation of the existing trend.
- Traders should wait for a breakout from this triangle before making any moves.
2. Trading Strategies:
- Long Position:
- Consider buying if the price moves above a certain level.
- Target price for a long position: 3900.
- Short Position:
- Sell short if the price falls below a specific level.
- Target price for a short position: 3500.
3. Current Price:
- BAJAJ AUTO LTD is currently trading at 8948.20.
Remember, this analysis is based on technical patterns, and actual market behavior may vary. Always use additional indicators and risk management techniques when trading stocks.
Bajaj Holdings & Investment Ltd (ticker: BAJAJHLDG) ForecastThe chart provided is a daily candlestick chart for Bajaj Holdings & Investment Ltd (ticker: BAJAJHLDG) on the National Stock Exchange (NSE). Here's a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Daily
- Data Range: From mid-2023 to mid-2024
Price Analysis:
- Current Price: ₹8,031.95
- Price Movement: The stock has experienced a gradual upward trend with periodic corrections.
- The price reached a peak near ₹10,000 in early 2024 and has since been consolidating in a symmetrical triangle pattern.
Technical Patterns and Indicators:
- Symmetrical Triangle: The stock is forming a symmetrical triangle pattern, characterized by converging trendlines.
- Upper Trendline Resistance: Formed by lower highs since early 2024.
- Lower Trendline Support: Formed by higher lows since mid-2023.
- This pattern often precedes a breakout in either direction.
Key Levels and Future Projections:
- Resistance Levels (Take Profit Targets):
- BUY TP1: ₹9,400.00
- BUY TP2: ₹10,400.00
- BUY TP3: ₹12,100.00
- Support Levels:
- Immediate Support: Around the lower trendline of the symmetrical triangle.
- Further Support: If the price breaks below the lower trendline, previous support levels around ₹7,600 to ₹7,800 could be tested.
Trade Setup:
- Bullish Scenario: If the price breaks above the upper trendline of the symmetrical triangle and sustains above this level, it could potentially move towards the identified resistance levels (TP1, TP2, and TP3). This would confirm a bullish breakout from the symmetrical triangle pattern.
- Bearish Scenario: If the price fails to break above the upper trendline and instead breaks below the lower trendline, it could indicate a potential downside move towards the next support levels.
Conclusion:
The chart for Bajaj Holdings & Investment Ltd shows the stock in a consolidation phase within a symmetrical triangle pattern following a significant upward trend. Key levels to watch include the upper trendline resistance and the lower trendline support. A breakout above the upper trendline could signal a bullish move towards ₹9,400, ₹10,400, and ₹12,100. Conversely, a breakdown below the lower trendline could suggest potential further downside. Traders should look for a confirmed breakout in either direction to make informed trading decisions.
Bajaj Finserv Ltd (ticker: BAJAJFINSV) ForecastThe chart provided is a weekly candlestick chart for Bajaj Finserv Ltd (ticker: BAJAJFINSV) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Weekly
- Data Range: From mid-2021 to mid-2024
Price Analysis:
- Current Price: ₹1,601.70
- Price Movement: The stock has experienced significant volatility over the period, with notable highs and lows.
- The price reached a high near ₹2,200 in mid-2021 and has since been in a downward consolidation pattern.
Technical Patterns and Indicators:
- Symmetrical Triangle: The stock appears to be forming a symmetrical triangle pattern, which is typically a continuation pattern. The price is converging between the upward trendline (support) and the downward trendline (resistance).
- Upper Trendline Resistance: Around ₹1,734.30
- Lower Trendline Support: Near the major support zone around ₹1,323.15 to ₹1,350.00
- Major Support Zone: The area between ₹1,323.15 and ₹1,350.00 has acted as a significant support level in the past, preventing further decline.
Key Levels and Future Projections:
- Resistance Levels:
- Immediate Resistance: Around ₹1,734.30 (upper trendline of the triangle)
- Next Resistance: Around ₹1,841.60
- Major Resistance: Around ₹2,020.45
- Support Levels:
- Immediate Support: The major support zone between ₹1,323.15 and ₹1,350.00
- Trendline Support: The upward trendline of the symmetrical triangle around the current price level
Trade Setup:
- Bullish Scenario: If the price breaks above the immediate resistance at ₹1,734.30 and sustains above this level, it could potentially move towards the next resistance levels at ₹1,841.60 and ₹2,020.45. This would confirm a breakout from the symmetrical triangle pattern.
- Bearish Scenario: If the price fails to break above the immediate resistance and moves below the major support zone, it could indicate a potential downside towards the lower levels.
Conclusion:
The chart for Bajaj Finserv Ltd shows the stock in a consolidation phase within a symmetrical triangle pattern following a significant decline from mid-2021. Key levels to watch include the immediate resistance at ₹1,734.30 and the major support zone around ₹1,323.15 to ₹1,350.00. A breakout above ₹1,734.30 could signal a bullish move towards ₹1,841.60 and ₹2,020.45, while a failure to hold above the major support zone could indicate potential further downside. Traders should look for a confirmed breakout in either direction to make informed trading decisions.
Axis Bank (ticker: AXISBANK) ForecastThe chart provided is a daily candlestick chart for Axis Bank (ticker: AXISBANK) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Daily
- Data Range: From around September 2023 to mid-2024
Price Analysis:
- Current Price: ₹1,174.00
- Price Movement: The stock has shown notable price movements over the period.
- The price had a significant rally from around ₹900 in October 2023 to a high near ₹1,225 in early 2024.
- Post the high, the stock has been in a consolidation phase with a downward trend, forming lower highs and lows.
Technical Patterns and Indicators:
- Descending Channel: The stock price has been moving within a descending channel from the high in early 2024.
- Upper Trendline Resistance: Around ₹1,182
- Lower Trendline Support: Around ₹1,106
- Fibonacci Retracement Level: Applied from the recent swing high to low.
- 0.618 Level: ₹1,152.90
- 0.5 Level: ₹1,143.90
- 1 Level: ₹1,182.05
Key Levels and Future Projections:
- Resistance Levels:
- Immediate Resistance: ₹1,182.05, which aligns with the upper trendline of the descending channel and Fibonacci level.
- Major Resistance: ₹1,228.80, which is close to the previous high.
- Support Levels:
- Immediate Support: Around ₹1,143.90 to ₹1,152.90 (Fibonacci levels).
- Major Support: Around ₹1,106, aligning with the lower trendline of the descending channel.
Trade Setup:
- Bullish Scenario: If the price breaks above the immediate resistance at ₹1,182.05 and sustains above this level, it could potentially move towards the major resistance at ₹1,228.80.
- Bearish Scenario: If the price fails to break above the immediate resistance and moves below the Fibonacci support levels (₹1,143.90 - ₹1,152.90), it might test the lower trendline support around ₹1,106.
Conclusion:
The chart for Axis Bank shows the stock in a consolidation phase within a descending channel following a strong rally. Key levels to watch include the immediate resistance at ₹1,182.05 and the Fibonacci support levels. A breakout above ₹1,182.05 could signal a bullish move towards ₹1,228.80. Conversely, failure to break this resistance and a move below the Fibonacci support levels could indicate a bearish trend towards ₹1,106. Traders should look for a confirmed breakout in either direction to make trading decisions.
Apollo Tyres (ticker: APOLLOT)The chart provided is a daily candlestick chart for Apollo Tyres (ticker: APOLLOT) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Daily
- Data Range: From around October 2023 to mid-2024
Price Analysis:
- Current Price: ₹481.65
- Price Movement: The stock price has shown a significant upward trend followed by a period of consolidation.
- The price increased from around ₹300 in October 2023 to a high of approximately ₹560 in early 2024.
- Since reaching this high, the stock has been consolidating, forming lower highs and higher lows, indicative of a symmetrical triangle pattern.
Technical Patterns:
- Symmetrical Triangle: The chart displays a symmetrical triangle pattern, characterized by converging trendlines of lower highs and higher lows. This pattern suggests a period of consolidation before a potential breakout.
- Upper Trendline Resistance: Around ₹500
- Lower Trendline Support: Around ₹460
Trade Setup:
- Wait for Breakout: The chart suggests waiting for a "perfect breakout" from the symmetrical triangle pattern. This breakout will signal the next potential move in the stock price.
- Bullish Scenario: If the price breaks above the upper trendline resistance (around ₹500), it could indicate a continuation of the previous uptrend.
- Buy Target Price (TP): ₹555, which is slightly below the recent high of ₹556.35.
- Bearish Scenario: If the price breaks below the lower trendline support (around ₹460), it could signal a downward move.
- Sell Target Price (TP): ₹415, which is a previous support level.
Conclusion:
The chart for Apollo Tyres shows a symmetrical triangle pattern, indicating a period of consolidation following an uptrend. Traders should wait for a breakout from this pattern to determine the next move. A breakout above ₹500 would suggest a bullish trend with a target price of ₹555. Conversely, a breakdown below ₹460 would suggest a bearish trend with a target price of ₹415. The key action is to wait for a confirmed breakout in either direction before making a trading decision.
Apollo Hospitals (ticker: APOLLOH) ForecastThe chart provided is a weekly candlestick chart for Apollo Hospitals (ticker: APOLLOH) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Weekly
- Data Range: From around early 2022 to mid-2024
Price Analysis:
- Current Price: ₹5,914.35
- Price Movement: The stock price has experienced significant volatility over the depicted period.
- The price fell sharply from around ₹6,000 in early 2022 to below ₹4,000.
- It then gradually recovered, forming a steady upward trend reaching a high of around ₹7,000 in early 2024.
- Recently, the price has declined from the peak and is showing some consolidation around the ₹5,914 level.
Technical Patterns:
- Support and Resistance:
- Support: The area around ₹5,750 to ₹5,850 has acted as a support zone recently.
- Resistance: The price faced resistance around ₹6,000, as indicated by multiple touches and rejections at this level.
- Descending Triangle: A descending triangle pattern is visible from the recent high near ₹7,000. The price is consolidating within this triangle, characterized by lower highs and a relatively horizontal support line around ₹5,750-₹5,850.
Potential Future Movements:
- Bullish Scenario: If the price breaks above the descending triangle and crosses the resistance at ₹6,000, it could indicate a potential upward movement, possibly retesting previous highs around ₹7,000.
- Bearish Scenario: If the price breaks below the support zone of ₹5,750, it might lead to a further decline, with the next major support level potentially around ₹5,250 to ₹5,000.
Conclusion:
The chart shows that Apollo Hospitals' stock has been consolidating in a descending triangle pattern after a strong uptrend. Traders should watch for a breakout above the resistance at ₹6,000 for a bullish signal or a breakdown below the support at ₹5,750 for a bearish signal. The stock is currently at a critical juncture, and its next move will likely be significant in determining its short to mid-term trend.
Bata India Ltd. (BATAINDIA) Sell StrategyThe chart shows a weekly candlestick pattern for Bata India Ltd. (BATAINDIA) on the NSE, with the current price at INR 1355.95. The chart is exhibiting a downward trend and suggests a bearish outlook based on key technical indicators.
Key Observations:
1. Current Price and Trend:
- The current price is INR 1355.95, with a recent decline of 1.32%.
- The stock has been in a downtrend, as indicated by the descending trendline.
2. Support and Resistance Levels:
- Immediate resistance is around INR 1379.20.
- Support levels are marked at INR 1223.55 and a lower support level at INR 998.30.
3. Descending Trendline:
- The stock has been following a descending trendline from its peak, indicating continued bearish momentum.
- This trendline acts as a resistance level, preventing the stock from moving higher.
4. Trade Strategies:
- Bearish Scenario:
- The stock is currently below the descending trendline, suggesting further downside potential.
- If the price fails to break above the resistance at INR 1379.20, it may continue to decline towards the support levels at INR 1223.55 and potentially down to INR 998.30.
- Sideways Movement:
- The price may experience some consolidation between INR 1379.20 and INR 1223.55 before making a decisive move.
- Traders should watch for a breakout or breakdown from this range to determine the next direction.
Summary:
The weekly chart of Bata India Ltd. shows a clear downtrend, with the stock struggling to break above the descending trendline. Immediate resistance is at INR 1379.20, and the stock is likely to find support at INR 1223.55 and INR 998.30. Traders should be cautious and watch for a breakout above the trendline for any bullish indications, but the current outlook suggests a bearish trend with further downside potential if the price fails to hold above the immediate support levels.
ACC Ltd. (ACC) StrategyThe chart is a daily candlestick chart of ACC Ltd. (ACC) on the NSE, with the current price at INR 2,543.35. The chart shows a descending triangle pattern, highlighting a major support level and potential trade strategies based on key price levels.
Key Observations:
1. Current Price and Trend:
- The current price is INR 2,543.35, showing a slight increase of 0.61%.
- The price is near the upper boundary of the descending triangle pattern.
2. Support and Resistance Levels:
- Major support is at INR 2,361.65.
- Resistance is indicated around the INR 2,600 level and higher at INR 2,734.90 (target).
3. Descending Triangle Pattern:
- The chart shows a descending triangle pattern, suggesting potential for either a breakout or continued consolidation.
- The upper trendline acts as a dynamic resistance.
4. Trade Strategies:
- Buy Strategy:
- If the price breaks above INR 2,600, it signals a potential bullish breakout.
- Traders could buy at the breakout level of INR 2,600.
- Alternatively, traders can wait for a retracement and buy at INR 2,550 for better entry.
- The target for this buy strategy is INR 2,730.
- Sell Strategy:
- If the price fails to break out and moves downward, keeping an eye on the major support at INR 2,361.65 is crucial.
- A break below this major support could indicate further downside potential.
Summary:
The chart of ACC Ltd. indicates a descending triangle pattern, with the current price near the upper boundary. Major support is at INR 2,361.65, and resistance is around INR 2,600, with a target for a bullish breakout at INR 2,730. Traders are advised to watch for a breakout above INR 2,600 for a buy opportunity, with a potential entry at INR 2,550 on retracement. Conversely, a failure to break out and a move towards major support could suggest caution or potential downside risks.
Abbott India Ltd. (ABBOTIND) StrategyThe chart is a 4-hour candlestick chart of Abbott India Ltd. (ABBOTIND) on the NSE, with the current price at INR 26,196.20. The chart illustrates a symmetrical triangle pattern, highlighting key support and resistance levels and suggesting potential trade strategies based on price movements.
Key Observations:
1. Current Price and Trend:
- The current price is INR 26,196.20, reflecting an increase of 1.08%.
- The price is currently near the lower boundary of the symmetrical triangle.
2. Support and Resistance Levels:
- Immediate support is at INR 25,000.
- The next significant support level is at INR 23,591.
- Resistance levels include INR 26,700 and INR 27,100.
3. Symmetrical Triangle Pattern:
- The chart shows a symmetrical triangle pattern, indicating a potential breakout in either direction.
- Traders are watching for a breakout above the upper trendline or a breakdown below the lower trendline.
4. Trade Strategies:
- Buy Strategy:
- If the price breaks above INR 27,100, it signals a potential bullish breakout.
- Traders could buy at the breakout level or wait for a retracement and buy at INR 26,700.
- The target for this buy strategy is INR 28,700.
- Sell Strategy:
- If the price breaks below INR 25,000, it signals a potential bearish breakout.
- Traders could sell at the breakdown level or wait for a retracement and sell at INR 26,000.
- The target for this sell strategy is INR 23,600.
Summary:
The chart suggests a symmetrical triangle pattern for Abbott India Ltd., with the current price positioned near the lower boundary of the triangle. Key support is at INR 25,000, with further support at INR 23,591, while resistance levels are at INR 26,700 and INR 27,100. Traders are advised to watch for a breakout above INR 27,100 to initiate a buy with a target of INR 28,700 or a breakdown below INR 25,000 to initiate a sell with a target of INR 23,600. The decision to enter trades can also be based on waiting for retracement levels to ensure stronger confirmation of the breakout or breakdown.
Aarti Industries Ltd. (AARTIIND) Analysis The chart is a weekly candlestick chart of Aarti Industries Ltd. (AARTIIND) on the NSE, with the current price at INR 630.20. The chart includes several key support and resistance levels and highlights a recent price movement pattern.
BUY Zone : 580 - 610 INR
Key Observations:
1. Current Price and Trend:
- The current price is INR 630.20, showing a slight decline of 0.29%.
- The price has recently broken down from a rising channel, indicating potential bearish sentiment.
2. Support Levels:
- The nearest support levels are at INR 608.40 and INR 580.35.
- If the price continues to decline, these levels might act as potential points of price stabilization or reversal.
3. Resistance Levels:
- Several resistance levels are marked as targets:
- Target 1: INR 765
- Target 2: INR 800
- Target 3: INR 925
- Target 4: INR 1120
- These levels are potential future targets if the price reverses and begins to rise.
4. Price Channels and Patterns:
- The chart previously showed a rising channel from which the price has recently broken down.
- This breakdown from the channel suggests a potential trend reversal or a correction phase.
5. Historical Price Action
- The chart shows that the price experienced significant volatility over the past couple of years, with notable highs and lows.
- There was a marked downtrend until the recent rise within the channel, followed by the recent breakdown.
Summary:
The chart indicates that Aarti Industries Ltd. is currently in a bearish phase after breaking down from a rising channel. Immediate support levels to watch are INR 608.40 and INR 580.35, while resistance levels or future targets are set at INR 765, INR 800, INR 925, and INR 1120. The recent price action suggests caution for traders, as the breakdown from the channel may lead to further declines or a consolidation phase before any potential upward movement.
BDL / Bharat Dynamics 35%+ in 1 week! Crazy ReturnsEverybody loves momentum.
Why not?
Momentum is the best friend of every trader. I always wanted to find and catch the beginning of a confirmed trend. It's unbelievable it is happening in real life.
Education and skills acquisition is the key to continued growth in any field. This especially holds true in the highly risky terrain called Trading.
A lot of stocks are in superb momentum and I am ready to catch them.
God bless you and happy trading.
KARURVYSYA 87%+ Gain in 1 YearKARURVYSYA has been in my bag from a year now.
Never thought this would touch 80%++ in gains.
I had sold 50% of it at 150 price level and held the remaining. I sold 25% of the remaining this morning and keeping the remaining 25% for some more gain, especially for the week after the election results.
We are for sure going to see some crazy spikes / volatility.
Anybody holding KARURVYSYA? Share your story in the comments.
God bless you and happy trading.
BHEL 13%+ Gain in 7 trading days!Hello traders,
How are you guys doing?
Iam bring you one of my recent successful equity trade I took - BHEL
The price on the 15 min time frame successfully closed above the astra line which gave me the confirmed entry for this trade.
The election results are round the corner and the overall market sentiment looks bullish, Iam selling 50% of BHEL on the TP 4 as shown in the chart and hold the remaining till the price crosses under the Astra dotted line.
Overall a nice trade. Good luck and happy trading.
$NSE:SAIL looking Bullish and ready for an Upmove.NSE:SAIL has formed Inverse Head and Shoulders in weekly chart and has successfully given breakout from Triangle taking support from 0.618 Fibonacci and if we check weekly chart it has also broken Ascending triangle pattern.
With current Fundamentals and Technicals NSE:SAIL looks strong and ready for one leg up around 160 and 180 in next few months and 200 to 250 in a year.
Those who want to buy NSE:SAIL can buy around 125 to 135 with a Stoploss of 115.
Targets are
-Short Term
1. 145
2. 150
3. 158
- Mid Term
1. 160
2. 180
3. 200
- Long Term
1. 219
2. 256
3. 293
Please note we are not SEBI registered and the idea above is for educational purpose only and for my own understanding. Please DYOR before taking any trade.
If you like my idea just give a share and boost and don't forget to follow.
PNB The Best Investment Opportunity ! ! !
We see Wave 1 and 2 both are completed and Wave 2 has retraced Wave 1 by less than 100% which suffices the rules of the Elliott Wave Theory, Now forms the Wave 3 the Most awaited the most powerful the most wanted and important wave for every trader, This Wave 3 has the maximum potential.
According to the Elliott Wave Theory these are the Extended Fibonacci Levels giving us the leading information instead of lagging.
HAPPY INVESTMENT ! ! ! !
TechM Fair chance of Correction
Price has reacted to a Fresh 3 Month Supply also there is a fresh 6 Month Demand formed,
Hence we are expecting a Correction.
After reacting to the Fresh Quarterly Supply, as per Weekly chart we have drawn trend-lines which also show the Support and then we see Price has violated the Support forming a new low, which indicates the sellers are coming in Power,
Considering the previous low violation and the 3 Months Soucre Supply this is the Short position.
Tata Consumer Correction Time (GAMA BLAST ALERT)! ! !
Price reacted to Fresh monthly Supply
We also have a Fresh 3 Months Demand ready.
Now lets check further in lower timeframe for confirmation in downward direction.
This is a Daily chart and we have a Short position in Sell.
