Panchalk

Panchalk Updated 

Flag pattern and breakout from it...but volumes are not too good. On 15 June 2020, it broke out with huge volumes from a channel. Flags are known to give good moves, but let's wait and see...Targets are highlighted by horizontal lines..Trade at your own risk. This is just for educational purpose.

Panchalk Updated 

Indoco has moved out of channel pattern couple of days ago with big volumes...then a pull back candle and started moving up again CMP - 394.8 Target 1 420.4 Target 2 445 Calculate your risk reward ratio. Put a stop loss and trade. I have not provided any stop loss level right now because it is something which you can decide on your own.

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Redington formed a triangle pattern some time ago...and the BO was with a gap up and now it has reached 274...from 193 to 274...which is big Target 1 - 244 target 2 - 277

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Triveni has broken out of what appears a wedge like pattern with good volumes.. CMP - 122.5 Target 1- 132 Target 2 - 146 Trade after doing your own research. Put a stop loss and trade. This is a small cap so please be cautious.

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Castrol has broken out of a triangle pattern in weekly TF and currently above the 200 EMA..a very important moving average. If it open above the CMP or with a gap up it will be a good stock to trade.. CMP 153.3 Target 1 - 159 Target 2 - 168.8 Target 3...lets achieve first 2 targets...all target marked with blue horizontal lines.

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Heritage foods broke out of the channel pattern couple of days ago...even when it was moving up INSIDE the channel it was doing big volumes..it has not traded with such volumes in the past 1 year at least...a good sign. CMP - 428.7 Target 1 - 473...( actually today also it moved up by 7%, so target 1 was 428 today, but the new target 1 is for those who wish to...

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Mazagaon has broken out of a triangle/wedge pattern couple of session ago and now is looking good.. target - 263, 276 ( upper circuit today)..Please trade after doing your own research.

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Tata power has potential to reach 135 if broader markets are steady for some time...it broke out many months ago...but the VOLUMES HAVE BEEN BIG ...since 2006 it has not traded with such big volumes... Volumes market with blue arrow targets - 135,145....This is an idea, NOT ADVICE TO TRADE. for longer term..

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GEPIL broke out of the triangle pattern many days ago...if it manages to remain ABOVE 200 EMA ( blue arrow) it is still a good buy..S&R levels marked by horizontal blue lines...they are also the targets...the risk in this trade is high because it broke out many days ago, so please consider it before trading...but as i mentioned if it remains above 200 EMA it is...

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Birla Corp broke out of channel many days ago with a big move up supported by good volumes...and has formed a flag pattern now...could signal another move up...especially if it breaks out of the flag with good volumes - keep watching...only take a trade when it breaks out from the upper part of the flag. Put a stop loss and trade. This is an idea, do your own...

Panchalk Updated 

Keep it simple...Tata Power breakout happened some time ago from a channel pattern..This trade is meant for a longer period or you can do a positional trade. According to Investopedia Channels are powerful, yet OFTEN OVERLOOKED patterns, which have not been given their due importance. But you can earn reasonable profit if you draw the right pattern and trade. (...

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Sumitomo has been moving in a channel pattern and on verge of a breakout from upper channel - volumes have been decent CMP -350 Target 1 - 353 Target 2 - 383 ideally it is advisable to take such trades when a stock is BEGINNING to move up the channel after taking support at lower channel. 276 would have been the ideal level..but even now it is fine. Watch for...

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Gayatri had taken a support at 8.50 Rs last year and moved up steadily to 36.7 in 1 year. last time in 2013-14 it had started moving up from precisely that level. Support and resistance levels marked. Targets are shown as blue horizontal lines. Most importantly the trading VOLUMES HAVE BEEN SIGNIFICANTLY HIGHER..so that is a positive sign

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KNR has formed a flag pattern in Daily charts...if it crosses the upper trend line expect it to go up to 221, 233 and above...if it opens with a big surge of volume it can scale 250 also

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In 2 sessions redington has made a monumental move...breakout from triangle and kept moving up Targets mentioned...today's upper circuit is 263.5

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GMDC had earlier broken out of a channel pattern..now it has formed a FLAG pattern in daily time frame...Could signal another move up. CMP - 74.5 target 1 - 90.75 Keep watching this space. Please do your own research and trade. This is just an idea.

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Concor has been trading with big volumes ( always a positive sign) in last couple of sessions and has broken out of the triangle pattern with big volumes.. Target 1 - 643 Target 2 - 712 And if it keeps up the momentum it can reach 761. Calculate your risk/reward and trade. This is just an idea.

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Relaxo has been one of the market leaders in footwear..OPM has been increasing steadily... breakout from channel with large volumes, always a good sign. CMP -1035 Target - 1111 ( short term) Calculate you RR ( risk reward) ratio properly before taking the trade. Best entry would have been 996 or thereabouts... i have marked the target levels considering S&R. Cheers