■ Mahindra & Mahindra Ltd is nearing its all-time high record.
● If the price breaks above the strong resistance zone of 2977 to 3014, further upward movement is likely.
weekly
Daily
Disclaimer: No Positions, This is not a recommendation to buy or sell and shared purely for educational purpose.
HBL Power chart update.
Daily chart attached shows a breakout from a triangular consolidation that took place between 376 to 612 from Dec 2023 to July 2024.
Post this breakout, stock went on to hit a fresh ATH of 724.
Stock again went into corrective phase and went down and tested the 10 WEMA at around 590-600, which also happened to be the region of previous ATH of 612.
Going forward I have tried to plot a rising channel to see if the stock price follows this channel. We saw some similar channeled moves in Shaily, Wockhardt etc and examples of such channeled moves were posted by @dhruvpatel
Disc: invested. not a recommendation to buy/sell.
Aditya Birla Sun Life AMC Ltd. CMP-753
Aditya Birla Sun Life AMC is set up as a joint venture between Aditya Birla Capital Ltd and Sun Life AMC and is among the top ten AMC’s in India. The IPO came in October 2021 at 712 Rs, after the same markets went sideways and stock price went into a correction mode. For 3 years the stock has consolidated and created a rounding bottom in form of a cup and a handle pattern. Also the stock price has recently (in August) moved above the IPO listing high price of 723 Rs and is consolidating . On Friday Sep 20, 2024 there was a huge volume spurt with high delivery percentage.
Fundamentally the business is asset light and doing well along with the sector (one can check the recent quarterly performance which is easily available). Capital market plays are doing well due to sector tail wind and recently NSE launched a new thematic index called the Nifty Capital Markets Index, which will attract inflows to capital market plays.
Below is the weekly and daily chart for reference.
Disclosure : Invested.(not a stock recommendation, anyone contemplating investing needs to do their own due diligence).
Vesuvius India: Breakout from flag-like consolidation. Expected target price of ~7400. Technical View:
Fundamental View: Ongoing and overall promised capex for new product lines shall sustain the earnings momentum - commissioned Mould Flux plant in June End. Expect AlSi as well as Basic Monolithic plant commissioning by Nov 2024. Core and large customers (Tata steel and JSW steel) are expanding capacity. For instance: Tata Steel commissions 5MTPA steel capacity.
Risks: Per steel industry news, cheaper imports from China remains a threat for India’s steel manufacturing sector. Slowdown in the Steel Industry will impact the business. Customer Concentration.
Disc: Hold a position basis evolving fundamentals and price action.
Company : VA Tech Wabag Ltd
Disclosure : Taken position (Please go through concalls and earnings to develop conviction)
Company: Suzlon (Turn around story for wind energy)
On Daily Chart currently:
Disclaimer : I have position in this stock so I am biased. Please go through concalls, result and presentation to develop conviction.
MARUTI SUZUKI INDIA LTD is nearing its all-time high record.
Weekly
Daily
Disclaimer: No Positions, This is not a recommendation to buy or sell and shared purely for educational purpose.
DLF cmp 900. weekly line chart. After rally from 530 in Oct 2023 to 930 in March 2024, stock underwent a 6 month long tight consolidation in form of triangle/pennant and broke out last week. Potential target of 1200 if pattern plays out which also will be challenging its previous ATH of 1225 posted in 2008.
disc: invested as a technical bet with appropriate stop loss. (not a recommendation. anyone contemplating investment should do their own diligence and follow proper stop losses)
HBL cmp 640. The daily chart attached shows multiple patterns within a single chart.
For someone wanting to observe charts for patterns within patterns happening within a short time frame, this is a great example to learn stuff. ( disc; I am invested, and this is not a recommenndation but put up to show examples of multiple patterns within a single chart window. )
Dear @hitesh2710 Sir,
How do you see HCC in technical perspective now after a month with recent corrections.
The stock is at 200 EMA after going below 50, 100 and 150 EMA levels. It went below ~42 levels which was another support, below 45 levels and now it is sitting at EMA and another small possible support levels at 40.
Do you consider this as failed technical setup?
Daily - HCC
Weekly - HCC
Thank you
The technical pqttern formed in HCC seems to have failed as of now. The stock price along with the small-midcap carnage has been hit hard.
