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Bharat Heavy BHEL is expected to target 229 after crossing 185Daily chart, BHEL has accelerated upwards and is probably on a parabolic pattern. The last candlestick is a Shooting Star, which usually indicates reversal movement. But, it needs a next candle confirmation; Open Price below 180.25 - The down target will be the support line (RED), 170 or 165 (2 Fibonacci levels - Uncertain!!) Next movement should be a rebounding to the resistance line (BLUE). After crossing up, the target will be 229.9 (flag pattern) Stop loss below the support line to be considered.
NSE:BHELLong
by snour
SWING IDEA - BALRAMPUR CHINIBALRAMPURCHINI seems to be in a very crucial buying zone. The reasons are listed below : Stock price tested 411 levels multiple times and finally broke it and it is retesting those levels again. Broke the ascending triangle pattern i.e a bullish sign. 200EMA support on daily timeframe. Stock was in a consolidation phase from last 1.5 years. Higher high are being formed. Support formed at 411 levels which was a strong resistance previously. Target - 462 // 520 SL - 406 on closing basis
NSE:BALRAMCHINLong
by Visionary_Growth_Insights
LIC India goes into a 'Wave 3' impulseThe largest insurer in India showed a massive volume and price gain on Friday's trading session bringing itself into some spot light. The stock was in a corrective triple three structure from the start of Sep. until Nov 13 when it completed the correction with a truncated 'wave 'z''. In a matter of only 7 trading days after having completed the correction, the stock is up 12% from bottom 'z'. While Friday's move might make it look like the stock has over-shot a bit but in totality of things the 'wave 3' is not even half-way from its target. INR 780-790 zone is the projected wave 3 target. It makes sense to accumulate this stock between INR 655-685 levels before it jumps above the INR 700 mark. CMP 677 Support zone 655-660 Target 780 Note*- Please do thorough analysis of any financial instrument before you trade/invest in it. The views expressed here are my personal opinions and not an advice to buy/sell.
NSE:LICILong
by neeraj_2_sharma
Trade Setup_10% upside in GMRINFRAThe stock gave a successful breakout from a falling trendline and managed to close above important resistance level of INR 60. The stock slid 21% in 2months between Oct-Nov. on back of contracting volume which in fact should be seen as a bullish sign. The Friday low of 57 is crucial support for the stock now and can also be used as a SL. The stock should now attempt to rally towards its Oct. high of INR 66.75(10% from CMP). CMP 60.35 SL 57 TARGET 66 NOTE*- Please take any trading/investing decision only after doing a thorough research in any financial instrument.
NSE:GMRAIRPORTLong
by neeraj_2_sharma
Time to hunt down the ICICIBANK bears!!The stock broke out above an active supply/demand zone of INR 900-920 in April 2023.This particular zone has been an active supply/demand zone for the stock since Sep.2022. 2 attempts by the stock to go past INR 1000 mark were reversed by the sellers in July and Sep. this year. Now for the past 3-weeks the stock has been making an accumulating range right at the zone of 900-920 and now has picked up some pace.(REMEMBER-ACCUMULATION RANGE AT SUPPORT AND DISTRIBUTION RANGE AT RESISTANCE OFTEN LEAD TO POWERFUL UP/DOWN MOVES RESPECTIVELY). INR 950 is the minor resistance zone and the stock should not have much trouble taking it down first, before heading forward to face the bigger resistance of INR 1000(which too shall be hopefully taken down this time around). TIME'S UP FOR THE BEARS!! NOTE*- This post is for educational purpose. Please analyze/research thoroughly about any instrument in which you want to trade/invest.
NSE:ICICIBANKLong
by neeraj_2_sharma
Gujarat Raffia Industries _a breakout on cards and 90% upside!It was noticed that the stock has been in an bottoming and accumulation phase for more than 2 years starting Aug 2021 till date. During this 2 year phase the stock attempted to go beyond the INR 40 mark but the same proved to be a strong supply/resistance zone for the stock preventing it from going higher(though few spikes/tails managed to pierce it a few times). On the downside however, INR 27-30 kept providing a very strong demand zone/support for the stock(though a few tails pierced it on one of the occasions) and was probably used to accumulate this stock by interested parties during this phase. The stock gave a falling trend line breakout last week with growing volumes and has greater chances this time around of breaking-through the INR 40 wall that it could not break-down in past 2 years. There is little to no resistance for the stock once it closes(weekly) above INR 40.INR70-80 seem to be the only resistance on the chart which from current price are almost 90% upside. INR 33 can be used a 'SL' for this stock to enter around INR37-40 zone for a potential target of INR70-75. NOTE*-The views expressed are based on personal opinions/observations. Please do your own analysis of any company in which you wish to invest/trade.
NSE:GUJRAFFIALong
by neeraj_2_sharma
A possibility of a 100% move in Confidence Petroleum India Ltd.The stock is in a ascending triangle setup on weekly timeframe. The 90-95 zone has been providing some resistance for the stock since 2021 and preventing it from launching above the INR 100 mark. But this 90-95 supply zone is now getting weaker since the constant rising demand for this stock wont let it dip below its previous lows every time and it is thus creating a beautiful upwards rising support zone. The triangle breakout(when it happens), suggests an upward target of around INR180 for this stock. Volume too has picked up this week. It should not take very long now for the breakout to play out. On the downside 80-85 is good support area for the stock. Note*- The views expressed are personal opinions/observations. Please study technicals &fundamentals of a stock thoroughly before taking any financial decisions.
NSE:CONFIPETLong
by neeraj_2_sharma
3
ACC can rally 25% from CMPThe Cement company is completing a zig zag correction(ABC or 5-3-5) to an impulse wave it had shown in Mar.2023. This impulse can either be considered as beginning of a new bull market and hence be considered as wave 1 or if it is to be considered as a corrective wave it can be marked as wave 'A'. That does not change the fact that a 5-wave impulse is always followed up by another 5-wave advance. In this case we may call it wave 2 or wave "Wave B".This wave is projected going towards 2300-2400 zone(25% from CMP). On the downside 1800 is good support for the stock which has now also approached the channel support. Note*- Views expressed are personal opinions/observations. Please do your own research before taking up any trade.
NSE:ACCLong
by neeraj_2_sharma
How to locate Supply/Demand Zones?_Rupa_casestudyA very good morning to all. The purpose behind publishing this chart is not primarily to talk about "Rupa and Co.". The primary motive is to share the right approach to analyze any chart. What do you look for when you look at a chart at first? I have tried to put in a numerous things that i try to spot when i see a chart. Now to talk about this particular chart of "Rupa and co.", the stock currently is very close to a major demand zone(both horizontal support and upward rising support). It is bouncing off the upward rising demand zone almost every time it approaches it. It now also has formed a 'double bottom' along the upward rising demand zone. INR 220-240 is also a important horizontal support area. The upward running demand zone also currently shows support at INR 240. And is it random then that the most recent bounce that the stock witnessed came from INR 240zone?? What to make of this information? It tells us that the stock is currently going through the accumulation phase and 240-270 is a good price range to accumulate it. In the future when more demand for the stock kicks in it will accelerate firstly towards the INR 400 mark and then if it breaches that, then towards INR 550 mark. Both INR 400 zone and INR 550 were past supply/demand zones(support/resistance if you want to call them that) and hence one can again expect some slowdown around these crucial zones. In case of successfully breaching the INR 550 level the stock will dash towards INR 750-800. I am sure i missed to talk about a lot of other things but i have tried to mark them onto the chart for easy visual grasp. One can for sure make use of various other technical indicators available to confirm the views or even plan better entries. I prefer the raw price and volume data over anything else as it is the fastest moving and most reliable thing you will see plotted on a chart. Note*- This post is for educational purpose only.
NSE:RUPALong
by neeraj_2_sharma
Break-out on cards and 18% rally for PRISM JOHNSON?There are three bullish confluences that you can see on this chart. 1.According to Elliot wave model the stock is taking off in wave III of 3. 2. A probable cup and handle breakout attempt.(target for this pattern comes in at around 200 Rs.) 3. Breakout attempt from imp 6 years old(2018-2023) horizontal resistance zone (145-150(Rs.)) The stock can give a swift move once it decisively closes above 150 mark. Note*- This is not a buy/sell recommendation. This post is for educational purpose only.
NSE:PRSMJOHNSNLong
by neeraj_2_sharma
The IGL stock is at good entry point currently.A picture says a thousand words. Well, I have have tried to depict everything i need to say about this stock onto the chart. To summarize it, we are currently near 61.8% retracement of the impulsive wave we saw in the stock between Mar.2022 till May 2023.A new impulse wave from here (wave 3) is expected to begin that should take the stock towards the 600 mark in the near future. Note*- this chart is for educational purpose only.
NSE:IGLLong
by neeraj_2_sharma
Trade_setup _ 20% upside potential in BF Utilities.BF utilities is a Kalyani Group owned company that engages in infrastructure and power generation through wind mill technology. The chart shows the stock giving a successful breakout from: i. Inverse head and shoulder pattern. ii. Horizontal resistance zone(635-655) The stock closed above both these significant resistances with a spike up in volume and a Bullish 'Marubozu' candlestick. The target for the Inverse head and shoulder patterns projects to a target almost close to the previous swing high(around 800-815 zone). On the downside 630 should make a good area to consider for a SL on this stock. *Note- Views expressed here are based on personal opinions/observations. Please do your own research/analysis before taking any financial positions.
NSE:BFUTILITIELong
by neeraj_2_sharma