Similar Bullish patterns identified in Bank of India & Canara Bank

The myth of similar patterns. Both BOI & Canara Bank have formed inverse H & S pattern.

Technical indicators ADX > 25 and trending upwards indicating the strength in the on going trend.

1.  Accumulate Canara Bank around 410 - 420 with stop loss of 390 for targets of 454 - 500

2. Accumulate BOI around 290 - 295 with stop loss of 284 for targets of 320 - 340

BOI DAILY CHART

CANARA BANK DAILY CHART

Raju V Angadi

Equity Research Analyst

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 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

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

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

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

     

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

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

     

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

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

     

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