Wipro has been on a bull run since the last two months, however the stock is now retracing for the last couple of weeks. The stock is now at a 50 MA position and it seems to be respecting the 50 MA for a long time. The RSI is in the oversold zone and MACD has started fading its negative momentum. The stock is taking support at 23% retracement.
Expecting the...
LT has broke out of its all time high in the last week. Now the previous resistance is being tested. If the stocks fails to break the support, we can expect a 1:3 trade with stop loss 1470.
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TVSMOTORCO is currently moving in a range bound market. Look out for any movement breaking the current range of upper - 656 and lower 598 levels. These level are unbroken in the past 3 months.
Although there was a recent attempt to break the lower level, the bears werent ableto succeed.
Look for long candles with good volume in the coming days/weeks.
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Ultratech cement has given a breakout from its ascending triangle formation on 12th July 21. Although the volume isnt good enough, one can enter while the previous resistance is tested. 1:3 reward can be the target as it is an all time high breakout. stop loss under the break out candle (6840). Target 7890.
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JSWSTEEL is forming a pole and pennant pattern in the weekly time-frame. As Pole and Pennant is a continuation pattern the price will most likely break out of the upper trend line.
MACD shows starting of upside momentum.
SL : 645
Target : 770
NSE:JSWSTEEL
Grasim industries is following trend line and i approaching the previously tested all time high of 1243. If the high breaks out with high volume, one can easily attain a 1:3 reward trade. Higher highs are sign of strength. Both weekly and daily MACD indicator are building up momentum.
Wait for the breakout to enter
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KOTAKBANK is following a falling wedge pattern/Descending triangle pattern with high demand in the rectangular area. The stock has been consolidating for the past few weeks and is awaiting a big move. MACD shows little or no momentum in the last two months. The stock is currently just below the 200 MA consolidating. It has a higher chance of breaking out upside in...
IndiaBulls real est has given a 52 week break out today (12-jul-21). The volume is 2x 50MA indicating high momentum. Once can confidently enter after restesting the previous resistance of 125.
Time frame - Daily
CMP - 133
Target - 153
SL - 118
RRR - 1:3
BluestarCO broke out of its descending triangle last week. Now the previous resistance has become the support. Entry at 848, The target for the stock can be 937 with a stop loss of 810. High volume can be noted at the break out day. Weekly MACD starting the upside momentum
TimeFrame : Daily
Triangle breakout
RRR - 1:2
