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Zonetrading

TDPS preparing for a zonal breakout and 15-20% rally!!The stock had given a successful breakout from a major resistance/supply zone of INR263-270 in Nov 2023 and subsequently formed a one month trading range right above the breakout zone. INR 285-290 is now the new resistance zone that the stock is now eyeing to breakout out from in order to go past the INR 300 mark. On Wednesday's trading session the stock broke out from a minor trend line resistance with a slight uptick in volume. This minor breakout can provide the necessary fuel for the stock to clear the INR285-290 zone with some momentum. CMP - 278 SL - 264(5%) TARGET - 320(15%) RR - 1:3 Note*- Not a suggestion to buy/sell but a personal opinion on the stock. Please do your own research before taking any investing/trading decisions.
NSE:TDPOWERSYSLong
by neeraj_2_sharma
Time to hunt down the ICICIBANK bears!!The stock broke out above an active supply/demand zone of INR 900-920 in April 2023.This particular zone has been an active supply/demand zone for the stock since Sep.2022. 2 attempts by the stock to go past INR 1000 mark were reversed by the sellers in July and Sep. this year. Now for the past 3-weeks the stock has been making an accumulating range right at the zone of 900-920 and now has picked up some pace.(REMEMBER-ACCUMULATION RANGE AT SUPPORT AND DISTRIBUTION RANGE AT RESISTANCE OFTEN LEAD TO POWERFUL UP/DOWN MOVES RESPECTIVELY). INR 950 is the minor resistance zone and the stock should not have much trouble taking it down first, before heading forward to face the bigger resistance of INR 1000(which too shall be hopefully taken down this time around). TIME'S UP FOR THE BEARS!! NOTE*- This post is for educational purpose. Please analyze/research thoroughly about any instrument in which you want to trade/invest.
NSE:ICICIBANKLong
by neeraj_2_sharma
Adani Enterprises is at major support.The most infamous stock in the Indian stock market in recent times- Adani Enterprises, has reached a very crucial support area and is probably attempting a bounce from here. The chart is based on very simple concepts of Support/Resistance, Horizontal consolidation areas(HCR's) and trend lines. Nothing too complicated here, the entry too is pretty straight forward. For a short term trade ,enter on trend line break confirmation and aim the HCR lower boundary for target. The low at 2142 is crucial reversal point as of now and will act as a SL. One important thing to note in this chart is the lack of volume confirmation for the past 2 months fall. What does a fall without volume confirmation mean? Is it bullish or bearish? keep an eye on the stock and you will find for yourselves(:P). CMP 2196 SL 2140 Target 1 - 2370 Target 2 - 2600
NSE:ADANIENTLong
by neeraj_2_sharma
Gujarat Raffia Industries _a breakout on cards and 90% upside!It was noticed that the stock has been in an bottoming and accumulation phase for more than 2 years starting Aug 2021 till date. During this 2 year phase the stock attempted to go beyond the INR 40 mark but the same proved to be a strong supply/resistance zone for the stock preventing it from going higher(though few spikes/tails managed to pierce it a few times). On the downside however, INR 27-30 kept providing a very strong demand zone/support for the stock(though a few tails pierced it on one of the occasions) and was probably used to accumulate this stock by interested parties during this phase. The stock gave a falling trend line breakout last week with growing volumes and has greater chances this time around of breaking-through the INR 40 wall that it could not break-down in past 2 years. There is little to no resistance for the stock once it closes(weekly) above INR 40.INR70-80 seem to be the only resistance on the chart which from current price are almost 90% upside. INR 33 can be used a 'SL' for this stock to enter around INR37-40 zone for a potential target of INR70-75. NOTE*-The views expressed are based on personal opinions/observations. Please do your own analysis of any company in which you wish to invest/trade.
NSE:GUJRAFFIALong
by neeraj_2_sharma
Has ITC refueled its tank for the next move up?The ITC stock now has been consolidating for more than 2 weeks at a very strong support/demand zone of INR430-435. This particular S/R zone is an active zone for the stock since May 2023, acting as support and resistance on several occasions since May. There was a slight breach of the zone in Oct.end which was successfully reversed by the excess demand hence providing more relevance to this zone. It is very interesting to witness the stock making a 2-week range right at the demand zone of 430-435 as if it is only waiting for an explosion upwards towards the supply zone of 450-455. Surely the sellers/bears have tested the buyers/bulls enough and the buyers have bravely stood their ground even bringing the stock back above 430 after the breach, but now its time for the buyers to test the sellers. We shall see if they hold their ground of 450-455 or flee from the battleground. CMP 437 SL 432 TARGET 457
NSE:ITCLong
by neeraj_2_sharma