REC Ltd forming a Rising Triangle with resistance of 117.
Longs can be initiated with crossing of 117 on back of high volumes.
SL can be the low of crossing candle, with Target1 of 128 & Target2 of 146.
Godrej Properties has been consolidated in a channel 850 & 925 for about 10 weeks.
Since expiry, heavy activity is observable at the upper limit of channel.
Any volume supported move possibly very soon can propel it towards 1100 levels with a minor resistance of 995-1000 zone.
SL can be low of the breakout candle & can be later trailed as per swing lows during...
Page Industries has been forming rising triangle pattern since last big fall & now approaching the apex point.
A crossover beyond 21290 on back of good volumes, script can see a Target of 26200 with SL of low of breakout candle.
SRT TRANSFIN has been facing resistance continually at 790 levels since revival from big breakdown.
Lately the script has jumped on back of high volumes & short covering in derivatives.
If the script crosses the resistance of 790, we can see levels of 940 coming.
SL for trade can be low of breakout candle.
PFC is forming a Flag & Pole Pattern.
After strong upmove, retracement is happening on back of low volumes with price respecting 96.5 levels.
Longs can be initiated once script breaks trendline on back of high volumes with Stoploss of 95 for targets of GAP formation at 115 levels.
HDFC has been trading in a Channel since quite some time with 1920 as Upper Limit & 1730 as Lower Limit.
Trade Idea 1
Once failure to cross levels of 1920, HDFC can be shorted till 1730.
Longs can again be initiated at 1730 if fails to breakdown from the channel.
The Script has tested 1930 3 times making a high of 1953 & failing. Recent rise has been seen on...
BHEL forms consecutive 2 series of Cup & Handle patterns with neckline of 42.5 & 44.5 respectively.
So once neckline of 42.5 is broken with high volumes, Target1 of 47, Target2 of 59 & Target3 of 71 should be sought.
Adani Ports Special forming a classic Cup & Handle Pattern. Long trades can be initiated once 370 levels are crossed on back of high volumes with Target 1 of 390 & later Target 2 of 425.
Adani Enterprises has formed Inside bar for the third consecutive day with ever decreasing candlesize & volumes.
Ideal Entry on long side should be beyond 322 lvls but since Master candle is quite big, long trade can be initiated while script crosses round psychological figure of 300 with a Stoploss of the last low 285.
DOW Jones constantly interacting with the trendline since last few days.....earlier acting as resistance, currently in bearish phase, acting as support. Constant retests of it will make it weak.
If breached, next support happens at 25750, which has been another point of interaction lately.
Next level of support comes from previous uptrend line.
If the trendline...
DOW has been trading in a channel since the great fall, again closed with negative bias with relatively large volume yesterday. Will be interesting to see how it interacts with the horizontal support level of 25000 & lower channel line.....being 2 supports at same juncture is a confluence should hold the levels.......volume interactions at these levels will be the key.
