my views on Astral
Pros
MFI 80 and %B > 80 suggest strong overbought move in stock.
VWAP,Alligator, ADX, RSI, MACD - all indicator show BUY position.
Breakout given with strong volume on 4th Jan
High and increasing FII holding
Cons:
P/B of Astral is around 25 which is very high in its segment.
My Strategy:
No fresh entry.
if in portfolio, hold with trailing...
The charts are showing a continued pattern of weakness. it is likely that this will test 1400 levels. hence it is recommended to buy on dips. Fresh long positions are not recommended. what is your recommendation . let me know !
RSI is low on hourly chart and in past such low levels of RSI has shown upmoves. This is indicating a upmove in today's session. If 21 DEMA seems to reversing from 200 DEMA
Strength : In today's session (07th July) the stock price managed to close above 200 DEMA ( 1D chart) and day's low was 1527.70.
Concern : Since Mar 2021, whenever the stock tried to cross 200 DEMA , it has retrieved back. So for tomorrow's session ( 08th July) the test is to see if the stock price stays above 200 DEMA. Another concern is that RSI level is 64.10...
It is important for the price to stay above INR 1525 in next session (07jul 2021) to confirm the breakout. Also check out close of 21st may and open of 06th july - confirming the end of consolidation and start of up move from here .
Trading range : INR 1515 - INR 1545
1 hour chart of stock shows price rejection at INR 1509 level and hence any upmove above this can be seen as stregnthening prices.
similarily price bounced back from INR 1494 which indicates strong support at this level.
Trading range : INR 1494 - INR 1509.
HDFC bank is expected to continue to move in parallel channel. Major resistance at 1525 Level. if this is crossed tomorrow then breakout is obvious expectation.
Note : my ideas are for continuous learning and I wait for your comments for improvement.
Breaking of channel on 10th May and then Fibonacci retracement upto INR 548 on 9th June is self explanatory and clearly visible
in the chart.
Parallel channel between 7th June and 23th June clearly shows importance of 21 DEMA crossing 200 DEMA - 1st from below on 7th June
which led to increase price action and then from above on 23rd June which led to stock...
Stock Price had peaked on 15th June at INR 2274.90 and since then have retraced to INR 2104.45 at the close of session on 25th June. The current stock price has retraced upto 61.8% of the fibonacci range ( i.e 61.8% of 285 points range ). It is indicative that stock has a high tendency to reverse its downfall or stay at this level.
For 28th June, i will be happy...
Hi, HDFC bank has made a cup and handle pattern ( confirmed!) and is expected to go up from current INR 1505 Levels. I will like to take fresh long as chart pattern suggest INR 1640 very soon.
For tomorrow's trade charts are suggesting upmove with INR 1525 as crucial resistance.
In today's session (21st June), despite weak global clues in the morning, the stock price have traded above 200 DEMA on hourly basis, which is a strong signal of uptrend in HDFCBANK.
For 22 nd June, continuation of uptrend is expected with resistance at 1495 Level and Support at INR 1486.
If the End of session price closes above INR 1500 then i will expect it to...
As per my last post, INR 1462 stood as major support level for HDFC bank in 17th June trading session.
For 18th June, major support level is INR 1454.70 and 1st resistance is INR 1471.75. Support and resistance are based on fibonacci drawn on ( low of 14th May and High of 1st June)
Moreover, on daily charts, HDFC bank made a Gravestone Doji on 17th June,...
As per analysis done for 16th June, HDFC bank prices today confirmed a range bound session.
For 17th June, the hourly chart is showing a inverted head and shoulder pattern, which is indicating, that stock prices are expected to
rise in the morning session. However, this analysis is subject to a favorable impact of US Fed Policy update in Indian market....
