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Nifty_50_stock_analysis

Bearish on hindalcoAccording to the present date and conditions, I am looking Hindalco on a bearish side according to the technical side. There were multiple factors making this stock bearish. 1. Stock pattern was in the downtrend. 2. Failing to cross and sustain above important resistance 3. Stock price below important moving average levels. Only we can turn bullish on this stock if it closes above the trendline stronger. you can see the trendline drawn on this chart. Coming to support, Hindalco shows decent support at 382.
NSE:HINDALCOShort
by Breakout-Ideas
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LH - LL Pattern - Sun pharmaNow let's talk about the pharma stock which was having highest market cap from the pharma side i.e.; Sunpharma. Sun pharma forming LH-LL Pattern which represents bearishness from longer time period. The stock results which came in this quarter were not bad. So I am not expecting much good move in sunpharma unless or untill, it breaks 1025 level. Breaking this level, sunpharma reverses the trend. Once can think of accumulating this stock in the below support levels. Important Resistance - 1025 Immediate resistance - 987 Important Support --> 946 - 923
NSE:SUNPHARMA
by Breakout-Ideas
Bullish Move With close to ResistanceComing to the Heavyweight in the nifty 50 index Reliance, reliance is looking bullish move in the short term. From the lower levels from Mar 20, stock has recovered and is now near significant resistance. Breaking this level, can move stock towards till 2672. If it breaks the Trendline resistance, then possibly a good move towards upside is possible. If reliance breaks the trendline drawn on chart, then it may show some bearishness. Important Resistance -> 2543 Important Resistance -> 2314-2200 Near support --> 2400. Consider these ideas for educational purpose.
NSE:RELIANCE
by Breakout-Ideas
Near to Important Levels - SHREE CEMENTIn my opinion, shree cement is showing upward momentum in the weekly time frame. But it is coming towards an important resistance. This level breakout can turn the stock upside. Failing to sustain above resistance levels will drag down this stock. Important resistance Level : 25900 - 26100 Coming to support, From 2022 Jun, stock was respecting trendline levels and making higher highs. If stock closes below trendline then it will show bearishness.
NSE:SHREECEM
by Breakout-Ideas