Positionalcall
IRCTC Breakdown Trading StrategyThe stock price of IRCTC has fallen below major support levels and currently offers good positional opportunity.
The business has a monopoly and the current news flows had impacted the sentiments negatively.
The news impact seems to be over and the stock is prepared to perform.
Note: The idea shared is aimed at spreading practical awareness of the theoretical concept of Breakdown Trading Strategy. Do not make any financial commitments based on this.
icicibank for swing/poisitional
buy near 1210
avg at 1185-80
sl at 1160 sl 4% strictly follow sl
use capital 25k to 50 k
overall risk 1k to 2k only
tgt 4% 8%12%16%20%
hold 3-6 week
kotakbank buy for swing and positional
first buy near 1780
avg at near 1755
sl near 1725 3% sl only play wuth strictly sl
use capital 25-50k
second buy near 1660
avg at near 1610
sl at near 1675 5% sl play safely with strictly sl
use capital 25-50k
indusinbk buy for swing /positional
buy near 1370
avg at near 1340
sl 4% near 1315
tgt 4%8%12%16%18%
hold 4-6 week
NATIONALUM BIG BREAKOUT & RETESTFundamental Analysis
1. Amazing Book Value
2. Nearly Zero Debt
3. Attractive Dividend Yield 3.30%(Extra Return on Holding for just 1 Quarter)
4. ROE & ROCE is Fascinating above 10-15%
5. Underperformed Like other PSUs and blasted in 2022-23, This Year Metal Sector Will Blast and Nationalum Will be Outperformer of Market
6. Sector Leader with Hindalco
7. Consistent Increasing sales and profit both QoQ and YoY also.
8. Increasing CWIP Will also create more revenue and profit.
9. More than 85-90% of holding is in Ultra strong DIIs FIIs & HNIs(Low Public(Weak) Holdings).
Technical Analysis of NATIONALUM
1. Accumulation phase is over (Big blast Breakout after 15-16 Years Like PFC, REC, TWL,MRPL, Chennpetro)
2. Successful Breakout on Daily, Weekly & Monthly TF
3.Breakout with Huge Volume happening
4. Volume Increased during Accumulation Phase from
5. Retest of Breakout Level Completed and Rejection shown on Daily TF & Buy Signal on H1 TF
Buy @ 130-135 SL - 120 Target- 250
Holding Time 3-6-9 Months
Possible Projected Loss- 10%
Probable Projected Target - More than 80%
NYKAATechnical Data
1.Accumulation Phase of About 1 Year
2.Increased Volume during Accumulation Phase
3.Big Breakout on Weekly TF with Big Volume
4. Retest of This phase is also done
5. Price Respected Breakout zone of 150-155
6. Rejection & Buying Confirmed on Weekly TF
Fundamental Data Analysis
1.Company is posting Increased Quarterly Results
2.Fundamentals & Company management is strong
3.Big Institutions also increasing stakes continuously
4. Kind of monopoly listed player in Market
(Study BSE for monopoly listed player)
5. Consistently growing business & market share
Buy at CMP @155-157
SL- @135
Target 1-310 (100% Returns)
Target 2 - 410 (More than 150%)
Time Period- Next 6-12 Months
FORMATION OF DOUBLE BOTTOM: PRAJ IND1. Identifying the Downtrend:
A downtrend is characterized by a series of lower highs and lower lows. Upon analyzing the price chart of Praj Industries, it's evident that the stock has been declining over a certain period. This downtrend is marked by a consistent pattern of lower highs and lower lows, indicating selling pressure and overall bearish sentiment in the market.
2. Double Bottom Formation:
e observe the formation of a double bottom pattern within this downtrend. A double bottom pattern is a bullish reversal pattern that typically forms after an extended downtrend and signifies a potential trend reversal. In the case of NSE:PRAJIND , we identify two distinct troughs (bottoms) formed at approximately the same price level, separated by a peak (intermediate high). This formation suggests that selling pressure may be waning, and buyers are stepping in at the same support level twice, indicating a potential shift in sentiment from bearish to bullish.
3. Confirmation and Trade Setup:
To confirm the validity of the double bottom pattern and initiate a trade, we look for a breakout above the neckline. The neckline is drawn by connecting the highs between the two troughs of the double bottom pattern. Once the candle closes above the neckline, it serves as confirmation of the pattern completion and signals a potential entry point for a long trade.
4. Target Projection:
The target for the trade can be estimated by measuring the distance from the lowest low (bottom) of the double bottom pattern to the neckline. This distance is then added to the breakout point (the neckline) to project a potential upside target.
GSK (GSK) Outperformed Market ReturnsIn the latest trading session, GSK (GSK) closed at $37.10, marking a +1.23% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the drug developer had gained 0.27% over the past month. This has outpaced the Medical sector's loss of 1.62% and the S&P 500's loss of 3.39% in that time.
HPAL - At Support - Pullback TradeI identified this stock as a probable candidate for a breakout trade (Refer to the previous post linked here)
And we did see a breakout and run up to 540-550 levels.
Now the stock has come back to the breakout level, the previous resistance area which now would serve as a support area( 455-463)
and this week a hammer-like candle is also formed in the support area, portraying a good opportunity for a pullback trade.
The structure of the stock is still very positive and this could be a great risk to reward swing to positional trade.
The initial target is recent highs i.e. 540-550 and the further target is around 600 levels.
Close below 450 would negate the trade.
HPAL Ready For Breakout HP ADHESIVES is a stock that can be another great positional pick considering the great risk-reward ratio it is offering right now.
The reason I picked this stock is that, it has been consolidating for the past 8 weeks in a tight range of approx 8-10%.
And this consolidation is happening at previous resistance around 410-460 levels, where the stock took resistance multiple times in the past.
Price Resistance
First in Jan 2022
Second on April 22
Third on Sep 22
And this time from June 22
By looking at price action, the breakout looks inevitable on the charts and stock can move fast towards 500 to 560 levels in the coming weeks which would constitute approx 20-23% return in a short span of a few weeks.
EASEMYTRIP towards 55 levelsIn the Latest, ease my Trip has been seen taking support around 40 levels twice in the past few months.
First in the month of March 2023, and second in July 2023.
Now, if it sustains above 40 levels, it is most likely to move towards 55 levels in the coming months.
Immediate weekly resistance is around 48 levels.
ZOMATO Towards 130 levelsWe have seen a remarkable rally in Zomato Ltd in the past few months from 45 levels to 75 levels, that's a whopping 81% gain in a span of about six months only.
Well, the stock doesn't seem to stop here and has the potential to give another 70-80% gain in another 6-8 months' time, if sustains above 69-70 levels.
It can be a great risk to reward positional trade at this point of time and price
HDFCLIFE TOWARDS 800-840 levels
HDFCLIFE Ltd is trading in an up-sloping channel, and within this channel, there is a probability of a Shark Pattern, which if unfolds can take stock towards 800- 840 levels in the coming weeks and months.
Can't comment on how smooth is movement is going to be, but any dip in the stock would be an opportunity to go long in the stock, as long as the stock is trading above the 590-600 levels.
Positional Trade timeline: 3-4 months.
The upside of approx 25%, more if bought in the dip.
multi-bagger alert: tatamotorsjust found a cup and handle patteren in monthly timeframe.
if it broke out, it should go a little above 1000 rs. if the price reversed from resistance. it should fall back to 450 levels.
do your own analysis before jumping in.
Equitas Small Finance: (Positional/Swing)Equitas Small Finance: (Positional/Swing)
Possibility for a long setup in Equitas Small Finance.
Price is testing the support zone 60-65.
Note: Do your own due diligence before taking any action.
Happiest Mind 61.8% Fibonacci Positional TradeFibonacci 61.8% retracement is the most important Fibonacci level in the markets and is a good trading strategy when combined with price action.
This retracement level is most likely to generate a reversal price move.
Happiest Mind once bounced from 61.8% Fibonacci support in the month of July 2022.
Currently, it is retesting the same support area and there is a probability that it might bounce from here again.
Considering the good risk-reward ratio, there is a good positional trade opportunity here.
If the price sustains 750 levels, there is a possibility that it might test 1000 levels initially and then 1400 levels this year.
UTTAMSUGAR : Positional Call#UTTAMSUGAR : All Levels mentioned are for Positional call (1-12 months)
Good Strength & Volume Buildup
>> For Swing Trader :
> Try to enter at retracement nr safe entry levels with a stoploss of 250
> Take Quick 5-10% & keep trailling
#positionaltrading
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Happy Trading !!!
Escorts1!27-11
Daily chart of Escorts1!
Looks like a clear breakout
Manual trend and 200 EMA are bullish
RSI is getting into the overbought range but looks strong
We have multiple supports at 223.80, 2090.50 and so on.
The chart looks strong and one should wait for a dip and buy for positional trading.
TASTY BITE AT IMP SUPPORTAnother stock, that came on the radar is Tasty BIte for a Positional Trade.
The stock made a low of 8050 in the last week of June 2022 and then rallied massively from there and made a High of 13700 in late August 2022.
That's a huge 70% return in just two months.
Usually when stock witnesses such a fast move it usually consolidates for a long time afterward.
Now the stock has been consolidating for the past 3 months in a 20% range i.e 11300- 13700.
There can be two types of trades that can take place:
1. Support Trade
2. Breakout Trade
Support Trade: Stock can be bought near the support level, which would offer a great risk-reward ratio, but at the same time,
Cons of Support Trade: your capital might get blocked for a long since we do not know how long it's gonna consolidate.
Breakout Trade: Keep the stock on the radar, Wait for a Breakout
Manage Your Risk as per your capacity
Cons of Breakout Trade here: You might miss the stock, as it gives huge swings and the risk-reward wouldn't be favorable by then.
Trade at your own risk
