Tata Global - Technical View

- Tata Global has broken above triangular pattern
- Previous days candle has moved up with higher volumes confirming the breakout
- The stock can be accumulated around 160 - 163 with Stop loss below 156 on closing basis
- The pattern target for the stock can be around 177 - 182

Daily Chart

Raju V Angadi

Equity Research Analyst

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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

Good Basing Pattern Seen in Reliance Capital

 -     Reliance Capital has formed a good base near 435 - 440 levels
 -     The stock has retraced 0.618 from the move of 290 - 670 and now forming a cup and handle                 bullish pattern
 -      Thus the counter can be accumulated around 475 - 485 with a strict stop loss of 464 for targets           of 548 and 584

Daily chart

  

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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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

Basic Technicals Applied - NIFTY near term outlook

NIFTY is showing signs of distribution and fatigue. The Indian Indices after a stellar rally from 7723 - 8450 odd levels.

Series of Bearish signals in NIFTY at TOP on Daily Chart.

1. Doji
2. Hanging Mans
3. Shooting Star
4. Harmi
5. Evening Star
6. Trendline Breakdown
7. Short Term Average Break.
8. Tweezer Top

Daily Chart

Dollar (USD) strengthening against INR crossing resistance zone of 62.

The outlook for the NIFTY looks cautious with pivot support near 8320/8290 and Resistance of 8427/8440/8470/7490/7531.

So NIFTY can be sold on any rise with Stoploss of 8540 for initial targets of 8225/8162.

Raju V Angadi

Equity Research Analyst

Also to learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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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

Bearish pattern in HDFC Ltd

-  HDFC Ltd has formed a double top pattern
- The stock has taken resistance near 1150 odd levels and the rise has been skeptical with low                volumes
-  Now stock has broken below near term trend line
-  Thus it is recommended to sell the counter around 1125 - 1135 with Stop loss of 1150 for targets of     1081/1062/1042

Daily Chart

Raju V Angadi

Equity Research Analyst

Also to learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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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

SSLT near term Outlook

-  The stock has formed a Tweezer Bottom near 233.50 odd levels.
-  Also after the counter retrace the move of 164 - 320 with 0.618 retracement near 232 levels.
-  The positive divergence in RSI confirming strength in the trend with rising volumes today.
-  Accumulate the stock around 230 - 40 with Stop loss of 218 for targets of 260 - 278.

Daily Chart

Raju V Angadi

Equity Research Analyst

Also to learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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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

Has the below par expected results led to do downward move in Cipla ? - Technical View

Cipla is the primary wave (4) corrective move as expected after completing its (3) of 5 around 670 as shown in the charts below. The stock is expected to test its wave 4 of one lesser degree as per the guidelines of Elliot Wave Theory (EWT).

DAILY CHART

As the wave (2) correction of primary degree was deep and zig-zag. The wave 4 can be complex flat or triangle in the process of forming as per EWT guidelines. So one more leg of primary degree upside is expected as Wave (5) once wave (4) completed. Let's wait the counts to unfold with other technical tools to confirm the start of wave (5).

Raju V Angadi

Equity Research Analyst

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Punjab National Bank - 'Coil Pattern' again - Updated

PNB almost completes final target 1084....

Raju V Angadi

Equity Research Analyst

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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

Punjab National Bank is in the process of forming a coil pattern again. These kind of patterns usually occur during the 4th Waves in accordance with Elliot Wave Theory.

Positive trend in RSI indicating the strength in the counter

Daily Chart

So one can accumulate the stock around 918 - 935 with stop loss below 900 on closing basis for targets of 1013 / 1048/ 1100.

 Raju V Angadi

Equity Research Analyst

Also to learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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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

Asian Paints - 'Coil Pattern' in formation

Asian paints is forming 'Coil Pattern' on daily charts.

Accumulate from 654 (CMP) up to 644 with stop loss of 635 for targets of 690 - 707.

Daily charts

Accumulate from 654 (CMP) up to 644 with stop loss of 635 for targets of 690 - 707.

 Raju V Angadi

Equity Research Analyst

Also to learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.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

Similar Patterns in twin Pharma stocks - Sun Pharma & Ranbaxy

Sun Pharma and Ranbaxy both have broken out in daily charts of a symmetrical triangle pattern on upside.

Use dips to accumulate stocks with stop losses provided for targets.

Sun Pharma  : Buy around 857 - 870 with SL below 830 for targets 925 - 940

Ranbaxy        :  Buy around 634 - 654 with SL 618 for targets 718 - 730

Sun Pharma Daily Chart

Ranbaxy Daily Chart

Raju V Angadi

Equity Research Analyst

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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