@StageInvesting - I only know and use trendlines (support & resistance) along with RSI and MACD. I don’t like GPIL chart much and I too think it can breakdown. Looking solely at the chart, it looks like 150 levels is where the support is (2018 top + 50 Month MA), but then this is trading at 3x earnings fundamentally and that’s where I wouldn’t know what to do.
I can’t bet on something going to 1.5x or so earnings from 3x (though such things do happen in cyclicals as it did in Graphite India). I was looking to go long on this if it held 300 levels and if macro factors were in favor. But now with slowing global growth and strengthening dollar, commodities will be weak in general - which means going long is betting against the tide. Also the Steel capacity China has built will hit the world if they can’t find viable absorption with the country. It could work out very well for us if that’s the case as a country but Steel makers will go back to their sub 20% EBITDA margins pre-Covid. Overall I think likely-hood of this going sideways with a downward bias is high even if it doesn’t breakdown overnight.
Disc: Had an earlier trade and exited GPIL around 450 levels.
Some updates (No change in views and no trades in the month)
VBL - Probably the weakest of the lot although it started the month the strongest but retraced and lost most of the gains. I suspect there is FII selling here leading to weakness but its trading at 50x earnings with stellar growth (20% sales and 123% profits - 3 Yr CAGR) and is probably the cheapest of the stocks I own 
so in no hurry to do anything. Seasonally weak quarters are ahead though as summer has passed so might be the reason?
Manyavar - Strong chart has built one more strong month. Fundamentally I think this business should do well with the discretionary spends. Started a thread on the business. Festive season should aid sales and hopefully these earnings multiples will sustain
IDFC First Bank - Another weak performer for the month, though this too like VBL ended the month in green but unlike VBL which started strong and ended weak, this one picked itself up to close strongly. Results on 22nd and if the numbers am seeing on the economy are anything to go by, I think we should see a similar quarter as the last one in terms of most metrics. Technically I think it could test the trendline around 60 levels if results are strong and if there is steam can break it in the next month. Hoping for a re-test of ATHs of 80 levels here by end of year.
Metro Brands - Probably the best performer alongside Manyavar. I think its trading cheap relative to Campus and that differential should narrow in the coming months. Festive season should be a big plus here as well
Devyani - Tested 200 levels intraday during the month but it could take some more consolidation to take 200 out convincingly after Dunearn’s 2.6 Cr share supply hit the market in August. I suspect most of it is absorbed and there hasn’t been a price weakness that would take it under 185 levels.
Even NR Agarwal and HBL Power which make up large part of the tail allocation have closed the month strongly so overall good month despite all the noise and volatility. I think monthly charts help provide direction during these volatile times.
Some additional data that seems to support domestic consumption is found in RBI’s payments and settlements data
It looks like UPI Q2 FY '22 vs Q2 FY '21 is 32 lakh crore vs 19 lakh crore - which is up 68% YoY. We can’t read much into this data as it includes P2P transfers as well alongside P2M and UPI itself has been gaining market share but it does show a very healthy economy.
Credit Card + Debit Card spends at PoS and e-Commerce as well is up 28% from 3.35 lakh crore to 4.3 lakh crore. I think this is a stronger indicator for consumption plays I am interested in above. Within this, Credit Cards are up from 1.79 lakh crore to 2.74 lakh crore - a 51% increase. This might be indicative of a larger credit uptake and could be a positive for all financials including IDFC First Bank.
(If the charts look different from usual, its because I am trying Tradingview instead of ChartIQ in Zerodha for a change.)
Disc: Have positions in all these as disclosed earlier.