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Karthikmarar

NIFTY - Quick Analysis - 23rd MayTwo weeks back when we had a look at the NIFTY, the index was moving down after making a double top like formation, it was approaching a good support zone around 21710-21840. It did take support from this zone, reversed and started moving up. Then we had a Bullish “W” like pattern. Now it has taken out the previous rejection zone at 22795-22550. Today we saw a Bullish widespread bar on increased volume closing at the top. We can see the momentum also flipped to the positive side. Now we can expect the NIFTY to move to the top of the inclined channel or the supply line of the inclined channel. The top should be around 23300 from where we could see a reaction. So next week we could see the NIFTY approaching this level and it could hover around this level till election result. And quite possibly. based on the Election result on the June 4th, it may break about the channel supply line and move into a higher trajectory.
NSE:NIFTY
by karthikmarar
GENERAL INSURANCE CORPORATIONThe stock after facing price rejection around 440 to 467 levels came back to below 50 DMA levels. It has been consolidating since then for almost 3 months now. Finally, today we saw it breaking out of the consolidation zone. We saw a widespread bar on very high volume. The relative strength is also turning positive. The money flow has been positive for the last few sessions. We can also see a reversal in the momentum to the positive side. If the stock sustains above the high of today's bar, we can see the stock testing the previous price rejection zone at 440 to 467 levels. Now the only point of caution here is today's very high-volume bar, it is like a BC bar which can cast a shadow of supply bringing the stock down back into the consolidation zone. So that is why we need to have positive close above the shadow of the BC bar for the stock to move higher. So, it is a stock worth watching.
NSE:GICRELong
by karthikmarar
ADITYA BIRLA FASHIONS - Poised to moved up ?The stock saw a huge fall of about 50% from a high of 359. From the bottom, it has been struggling for almost a year to reverse the trend. And of late, you can see the attempt to move up, seeing some success. You can see a break of structure in the daily and now a break of structure in the weekly as well. The relative strength is also positive. The money flow which had dipped is now recovering. The momentum also had weakened recently and is now picking up. Today the stock moved past the price rejection zone at 277 with wide spread up bar with volume support. In the last few sessions, we saw some increase in delivery volumes indicating some interested buying coming in. If the stock sustains above 277 levels, we can see the stock moving up further north. The next destination could be 315 levels.
NSE:ABFRLLong
by karthikmarar
DEEPAK NITRITEIn early January, the stock faced rejection around 2520 levels and it retreated to sub 200 DMA levels. From there, it recovered. In early May, it made an attempt to take out the price rejection zone. There was a move on very high volume. Unfortunately, that move did not succeed and it was pushed back below into the supply shadow of the BC bar which happened on the April 24th. Now, again it is attempting to move above the shadow of the BC bar and the price rejection zone. The relative strength is still positive but the money flow is lacking and also the volume is very low. The momentum has also dropped. So, once this stock succeeds in taking out the price rejection zone and goes above the shadow of the BC bar, the stock is likely to move up higher. We also see a very nice consolidation pattern almost like a cup and handle pattern. So, we need to wait and watch for the volume to increase and the money flow to be positive and the momentum also to come in. So, this is a stock worth watching
NSE:DEEPAKNTRLong
by karthikmarar
1
NIFTY - Quick Analysis Today, we saw a substantial fall in the Nifty. The nifty has been weak in the recent past and the weakness was pronounced this week. The Nifty has been moving in an upward inclined channel for almost six months. And recently, we saw a double top formation. Now the Nifty is approaching the baseline of the double top formation which is around 21710. Now the nifty has broken below the 50 DMA and also below the demand line of the channel. The momentum has also become weak and the Sell waves are dominating the Buy waves. All this confirm overall weakness. Now 21710 is a very crucial level. A break of this level will confirm the success of the double top formation and will take the nifty towards the 200 DMA which will be around 21,000. So, we need to wait and see if the level 21710 will hold. This level is a also good support zone. Tomorrow’s session will be important one.
NSE:NIFTY
by karthikmarar
4
RADICOThe stock has been moving sideways after facing rejection above 1720+ levels. Bouncing from support zone and crossing above converging short-term moving averages on high volume. Money Flow turning positive and Relative Strength on the verge of turning positive. Today's Delivery volumes were very high, seven times the average indicating longer term interest. Now the stock is likely to attempt to take out the Rejection zone. Looks like 1800+ on the cards. I am looking for a minimum 10% quick up swing.
NSE:RADICOLong
by karthikmarar
5
KPR MILLS After facing a rejection at 925 levels the stock retreated to 200 SMA levels. Taking support at the 200 MA level the stock is attempting to bounce back. It has crossed above the 200 and short-term moving averages. It has also crossed above the supply line. The last two bars with wide spread up bars closing up indicating good quality buying. Recent increased delivery volumes also indicated accumulation. Now there is high probability the stock will test the previous PRZ level at 872-925. Other parameters like Relative strength is on the verge of turning positive. Money flow is already positive. Ease of movement will be better once the price moves beyond 802.
NSE:KPRMILLLong
by karthikmarar
1
CENTURY PLY – Poised to move higher?Almost six months of consolidation. Now moved out of the consolidation zone with volume support. The Relative strength is turning positive. Money flow and buying pressure is also positive adding to the strength. Increased delivery-based buying is also seen. Interestingly, in the weekly TF we can see a nice volatility contraction pattern, making the probability of up move higher. However, 744 is a last point of supply on the weekly TF. Once the stock moves above 744 it will move much higher. The probability of that happening is quite High. A stock to track.
NSE:CENTURYPLYLong
by karthikmarar
BHEL - Ready for the next lapWe have been following this stock from 83 levels in July when it formed a nice VCP pattern and was ready to move up. Then after a encountering a “BC” bar the stock was stuck inside the supply shadow of the “BC” Bar. After some consolidation and a “spring’ the stock started to recover. Now it has come out of the shadow of the “BC” bar and has crossed above the previous Rejection zone with good volume support. All key parameters like Relative Strength, Buying pressure and Money Flow are positive. Now the stocks is ready to go to the next lap of the up move.
NSE:BHELLong
by karthikmarar
L_TFH - A stock to WatchA stock to watch. In the month of July when we encountered a BC bar, We did expect that the stock will face supply and struggle to move up. The stock did face lot of supply within the "Shadow of the BC bar". After getting pushed below the 50 DMA the stock was on the recovery move. Finally it is attempting to move past the shadow of the "BC" bar. Relative strength and buying pressure remains positive. However the volume and money flow is still lacking. A good move past with volume support will propel the stock into a higher trajectory. Also look at the below chart as well
NSE:LTFLong
by karthikmarar
1