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

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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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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

     

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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

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