The Myth of patterns - Similar patterns seen in most Public Sector Banks (PSB's)

The PSU banks have been laggards, Although broader Indices (NIFTY) has been outperforming along with the PSB's peers private sector banks. Now is this time to catch up for PSB's and some NBFC's ?

The similar pattern have occurred in most of the mid cap PSU Banks such as Oriental Bank of Commerce, UCO Bank, Andhra Bank and NBFC Reliance capital etc to name a few.

The pattern targets can be as much as height of the pattern. To know more about Cup & Handle pattern check out on investopedia (Source: http://www.investopedia.com/university/charts/charts3.asp).

The below are some of the Daily charts which provide the evidence of pattern breakouts. The magnitude of move can be swift as high volume breakout is seen.

Andhra Bank Daily Chart

UCO Bank Daily Chart

Reliance Capital Daily Chart

These are few counter which give as much as 10 - 15% anticipated returns in medium term.

Raju V Angadi

Equity Research Analyst

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

IGL on the verge of 8 - month down trendline breakout ?

Daily Chart

·         IGL is on the verge of a 8 – month downtrendline breakout 

·         The MACD cross over above zero line also indicating the strength in the trend on upside

·         The counter is above 21 – EMA (264), 50 – WMA (260) and the rising delivery based volumes showing signs of strong buying

·         The stock can be accumulated around 270 - 275 for targets of 297 and 311 with a stop loss of 258 on closing basis

Raju V Angadi

Equity Research Analyst

To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services contact us back on rvangadi@googlemail.com (OR) swingresearch5@gmail.com (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

AUTOMOTIVE AXLES NEAR TERM OUTLOOK

DAILY CHART

                                                                     WEEKLY CHART

·         AUTOAXLES has formed a rounding bottom pattern formation on daily and weekly charts

·    The price breakout along with volume confirmation crossing above 10 – week EMA indicating the strength in the counter

·         The stock has formed a classical higher top and higher bottom formation

·         The stock is trading above 21, 50 and 200 – EMA indicating the positive trend

·     The stock can be accumulated around 305 (CMP) and on dips 290 below 280 on closing basis for targets of 350 above 400 (2 – 3 MONTHS).

Raju V Angadi

Equity Research Analyst

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

Is the time for mid caps rally ? A look on MBL INFRA charts ? (Update ....)

Our Buy recommendation report on the stock around Rs. 120 odd levels on 6th March 2014 now makes a high of 177 (CMP Rs. 175) has given a return of 30+ % in 2.5 months. The stock in the can consolidate and can march ahead towards its next target of 212.

Invest or trade objectively with favorable risk/reward ratio should be the motive in which ever markets one opts to be in. 

"Know what you own, and know why you own it." - Peter Lynch 

Raju V Angadi

Equity Research Analyst

To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services. 

To know the quality investment ideas and quality probable trade setups during the pre and post-election mania. Contact us back on rvangadi@googlemail.com (OR) swingresearch5@gmail.com (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

DAILY CHART

WEEKLY CHART

·         MBL INFRA has formed a Cup and Handle formation on both daily and weekly charts

·         The stock is in the process of forming breaking out of the inverted H & S pattern, also trading above 21 EMA from past 12 trading sessions and also consolidating above key support level of 120 in daily charts

·         The RSI has crossed above 60 in both daily and weekly charts indicating the strength in the trend

·         The H & S pattern targets for the counter in short term (2- 4 weeks) > 125 could be 150 – 160 and the Cup & Handle pattern targets in medium term (2 – 3 months) can be 180 – 212

·      The stock can be accumulated from current levels Rs. 120.90 and on dips around 112 and 108 with a stop loss below 100 on closing basis for targets of 160 / 180 and 212 

Raju V Angadi

Equity Research Analyst

To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services contact us back on rvangadi@googlemail.com (OR) swingresearch5@gmail.com (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

Cadila HealthCare - Breakout

                                               Weekly Chart

·         Cadila Healthcare has broken out of the 3 – year resistance of 980 – 985 band

·         The RSI has been consistently above 60 on weekly charts from past 2 months and volumes have been on the higher side showing the buying interest in the counter

·         The higher end of the Bollinger Bands have been tested

·         As the medium term strength is seen in the stock. The strategy would be to accumulate the counter in the band of 990 – 1029 (CMP) with stop loss of 945 targets of 1100/1150/1220  

Raju V Angadi

Equity Research Analyst

 To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services contact us back on rvangadi@googlemail.com (OR) swingresearch5@gmail.com (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets