Monday, 19 December 2016
Tata Chemicals Ltd – On the verge of Breakout
Tata
Chemicals Ltd on a daily chart price is making higher high and higher low pattern
also stock price is trading above the 20 DMA, indicate positive outlook for the
stock price. Technically on chart stock price at Rs. 489 is trading near the breakout
of downward sloping trend line, any trade or closed above Rs. 491, price can
rally towards previous high swing, which look most likely.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above at Rs. 491 for the target of Rs. 553 levels, with Rs.
468 stop loss on closing basis.
Friday, 16 December 2016
Glenmark Ltd – Symmetrical Triangle Breakout
Glenmark
Pharmaceuticals Ltd on a daily chart price is making higher high and higher low
pattern also stock price is trading above the 20 DMA, indicate positive outlook
for the stock price. Technically on intraday 60-minutes chart stock price at
Rs. 930 has given the breakout above the upper trend line of symmetrical
triangle or continuation pattern at Rs.914, with sharp increase in volumes,
indicate rally will continue towards previous high swing.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 930 for the target of Rs. 990 levels, with Rs. 896 stop
loss on closing basis.
Wednesday, 14 December 2016
Axis Bank Ltd – Downward Sloping Trend Line
Axis
Bank Ltd on a daily chart price is making higher high and higher low pattern
also stock price was trading below 20 DMA from last 3 months, yesterday price
has breached the level, and closed above the same. Technically on chart stock
price at Rs. 466.55 has given the breakout of the downward sloping trend line
with sharp increase in volumes, indicate rally will continue for the multi
month towards Rs. 554 level.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 466 for the target of Rs. 512/554 levels, with Rs. 442
stop loss on closing basis.
Tuesday, 13 December 2016
Larsen & Toubro (L&T) - Technical Recommendation
Larsen
& Toubro (L&T)
is a technology, engineering, construction and manufacturing company. It is one
of the largest and most respected companies in India's private sector. This firm is likely to show better price
performance in near term supported by good fundamentals and technical breakout.
On chart, stock prices are volatile.
The stock hit 52-weeks’ high of Rs. 1615 in July 2016, then price revered low of
Rs. 1295.10, in the month of November 2016, down by 19.80 percent from its
52-weeks’ high. Currently, stock price is trading at Rs. 1375.20. The stock
price witnessed 6.22 percent rise in last month from the initial low. We feel
that there is more room left on upside and the rally is likely to continue.
On chart, we witnessed stock price
was trading below 20 DMA from last 28 trading sessions but yesterday price has
breached the 20 DMA and closed above the same, indicate stock price has find
the support level. If today once again price respect the 20 DMA, then most
likely it will move towards previous high swing
Technically on a different time scale of daily & weekly chart stock
price is making higher tops and higher bottoms pattern. Tracking Bollinger Band
front price of. Rs. 1375.20 trading above the mid-band of BB, which will take
stock price towards ‘Upper Bollinger Band’ and the bands are widening, indicate
ongoing positivity will continue in the stock price.
On a daily chart stock
price at Rs. 1375.20 has given the breakout above the upper trend line of symmetrical
triangle or continuation pattern at Rs.1369, with sharp increase in volumes,
indicate rally will continue for the multi month towards Rs. 1520 level.
The positive crossover
spotted in moving average convergence divergence or MACD (a momentum and trend
indicator) also suggest the formation of the next big move up in the stock over
the next few months. RSI, which indicates inherent strength, it has more room
upside, which adds further positivity to the index. Most of the oscillator based indicators also
point towards the bullish view of the stock price.
Looking towards the chart
pattern and study i.e. Bollinger Band, RSI and MACD, we believe stock price may
extend its rally towards Rs. 1520 levels, whereas Rs.1304 will act as a strong
support level, which would be on closing basis.
HCL Technologies Ltd – Symmetrical Triangle Breakout.
HCL Technologies Ltd on a daily
chart price is making higher high pattern also trading above 20 DMA. Technically
on chart stock price at Rs. 801 has given the breakout above the upper trend
line of symmetrical triangle or continuation pattern at Rs.798, with sharp
increase in volumes, indicate rally will continue for the multi month towards
Rs. 847 level.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 801 for the target of Rs. 847 levels, with Rs.778 stop
loss on closing basis.
Monday, 12 December 2016
TCS Ltd– Downward Sloping Trendline.
TCS Ltd on a daily chart stock price is making
higher high pattern with increase in volumes. indicate rally will continue
towards north. On chart, we witnessed stock price Rs. 2210 is trading near downward
sloping trend line any trade or closed above Rs. 2216 stock price can rally
towards previous high swing. Momentum Oscillator RSI has more room left on
upside, which further add bullishness into stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above Rs. 2216 for the target of Rs. 2430 levels, with Rs. 2163
stop loss on closing basis.
Friday, 9 December 2016
ACC Ltd– Downward Sloping Trendline.
ACC Ltd on a daily chart stock price is making
higher high and higher low pattern with increase in volumes. indicate rally
will continue towards north. On chart, we witnessed stock price Rs. 1379.15 has
given the breakout of downward sloping trend line at Rs. 1342 level, show stock
price can rally towards previous high swing. Momentum Oscillator RSI has more
room left on upside, which further add bullishness into stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 1379 for the target of Rs. 1497 levels, with Rs. 1335
stop loss on closing basis.
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