Anyone following Sudarshan Chemicals?
Technically, 400 has been acting as a strong resistance since quite some time. If that breaks, it could again head towards 600 as has happened previously. What could be the trigger?
Disc: Invested with small tracking position
Syngene looks interesting at its LT trend line. 200 week exp moving average comes around 267 ( 9 % from current price) and should provide a good support incase it doesnt bounce from here.
Disc : Started Accumulating today, will continue to do so till 200 weekly moving average.
Couple of interesting plays undergoing consolidation where an upside breakout looks highly probable. Position, if any, needs to have a suitable stop loss.
All the stocks are very near to the ATH and ready to move into uncharted territory. That’s what makes it so interesting.
Disc. May have positions in some/all. Please do your own research. Shared for educational purpose only.
Nestle chart can also considered in same catogry
I wanted to have view on two stocks from those who follow technical closely- SIS and HDFC Life
Disc as below -
SIS - I am long here for an year or so with only moderate returns and the stock seem to be breaking out. I have no intention to exit but wanted to allocate more if it looks good technically
HDFC Life - I exited recently with decent gains and looks like a decision made in haste but the stock seem to be making a double top. I would like to reenter at some point of time.
Granules India; Breakout after 2 months of consolidation in rectangle formation with huge volume
Similar rectangular breakout in KPR Mill
Disclosure: Invested in both from lower level.
Granules is finding tough to close above 134, How do we identify if the breakout mentioned turns out as False and again what are the key levels / indicators to watch for next breakout
Before finding the breakout the key is to find the support and resistance for the chart. Support and resistance are not single line but a small band which is the tolerance level set as per the candle sticks movement in the past. For Granules the tolerance limit could be set 132 to 134.
The real breakout should have above average volume. If after the breakout the volume decreases, then there is high probability of fake breakout. Generally, to confirm a breakout, price should close above tolerance limit on closing basis, and consolidation should happen above the resistance and volume should support the price action in direction of breakout.
A small percentage of move in opposite direction below the support could be set as stop loss for a false breakout based on ATR or other volatility indicators.
If you plot the 100 and 50 EMA lines too (3 month chart, 4 hours range), the candles have gone above these EMAs in last 3/4 days. Once the resistance of 134 is broken, price can take a leap up.
I would add following 3 month chart
, where multiple volumes spikes couldn’t convert into breakout because delivery percentage spoiled the party.No offence to anyone but just wish to add my views in order to understand better through constructive discussion
Folks, was just looking at Nifty 1 year trend line. Almost at resistance and like previous falls RSI showing divergence at daily charts. With budget around the corner, is it time to be cautious ?
OCCL: On the verge of breakout from long term downtrend, has bottomed out around 950 with double bottom pattern with divergence in RSI.
Disclosure: Invested
Thyrocare looks poised. Similar setup in NH and IEX played out well. One had great earnings tailwind, other didn’t.
NH (Monthly)
IEX (Monthly)
Thyrocare (Monthly)
Market appears to have punished the business enough due to the omnipresent and chatty promoter and persistent investor meetings. Things seem to have quieted down now. Q2 numbers were good and growth seems to be back. Interestingly enough, there wasn’t a concall, which might be a good sign. Investor meetings have dwindled as well. Expectations seem low, while performance is indicating some strength. There is a low base in Q3 and Q4. Another overhang of the past where there was cash on the books which wasn’t distributed is now a thing of the past as well, as the payout ratio has been very good lately. Q2 numbers were a lifetime best which picked the stock up from lifetime lows. While perhaps not on the same level as Metropolis and Dr Lal which appear to be B2C, if the promoter puts his head down to execution, he can perhaps benefit the shareholders, as he did the PE firms that he gave exit to. Valuation isn’t cheap (25 times earnings - compared to 60 times of Lal and Metropolis, maybe the gap is too wide, even factoring B2B) but if the growth in Q2 sustains going forward, interest could be back.
Disc: Have a trading position
Vidhi is at a very strong long term support.
PE ratio of ~11 is also amongst the lowest in last 5 years
Seems good techno-funda pick
Moreover, the business is similar to that of Dynemic products which is forming bullish pattern after taking similar long term support.
These are the monthly charts of cholafin showing a bottoming curve near completion…increased volume activity is note worthy…as per the books on tech analysis, a high trading activity in such a case may indicate an upcoming breakout…request for comments from veterans…
A traingle formation is also visible along side the curve on the chart…the half distance from bottom till apex of triangle has already been covered in Dec 2019…
In conjunction with the good results of Cholafin previous week, this can be a likely sit for strong breakout
regards
