Grasim Industries Ltd – On the verge of breakout

Grasim Industries Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 843 has touch the downward sloping trend line any trade or closed above the same stock price can rally towards previous high swing. Momentum Oscillator MACD has also given positive crossover, which add more bullishness for the stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above Rs. 848 for the target of Rs. 1036 levels, with Rs. 800 stop loss on closing basis.

Bharti Infratel Ltd – Double Bottom Pattern

Bharti Infratel Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 339.90 has given the breakout of descending triangle pattern, also we witnessed a double bottom pattern, indicate stock price can rally towards previous high swing, which look most likely. Momentum Oscillator MACD started moving north, which add more bullishness for the stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 339 for the target of Rs. 395 levels, with Rs. 324 stop loss on closing basis.

Tube Investment - Technical Brekout

There is one company which produces different component that fit in bicycle as well as in cars. The company we are talking about is Tube Investment. Which is into specialized in engineering, bicycles, metal forming and tube products. The company is likely to show better price performance in near term supported by good fundamental and technical breakout.

On chart, stock prices are volatile. The stock hit 52-weeks’ high of Rs. 684.70 in November 2016, then price revered near to low of Rs. 521.70, in the same month, down by 23.80 percent from its 52-week’s high. Currently, stock price is trading at Rs. 571.80 up by 9.60 percent from its recent low. We feel that there is more steam left and the rally is likely to continue.

On a daily chart, stock price started making higher top and higher low pattern, also we witnessed stock price was trading below 20 DMA from last 36 trading session, but yesterday stock price has surpassed the 20 DMA and closed above the same, indicate stock price has found the support level.

Proceeding on daily chart stock price at Rs. 571.80 has given the breakout at Rs. 567 of symmetrical triangle pattern which has stared from November 2016, in the triangle yesterday stock price has touched the lower channel and price has given the breakout of the upper channel of the pattern, now stock price will rally towards Rs. 640 level.

Tracking Bollinger Band (BB) we find stock price at Rs. 571.80 has closed above the mid band of BB, now stock price will touch the ‘Upper Bollinger Band’ and the bands are widening, thus indicating positive energy. Momentum Oscillator, MACD (Moving Average Convergence & Divergence) has given a positive crossover on a daily chart, favouring the bullish view, which could witness the Tube Investment marching higher.

The trend intensity indicator demonstrates that the stock is gaining strength as months pass by. The psychological sentiment towards the stock remains positive. The stock is also looking positive on the monthly chart, which foretells well for the long term uptrend of the stock. We believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy at CMP and adding more on dips.

Looking towards the chart pattern and study i.e. Bollinger Band, RSI and MACD, we believe stock price may extend its rally towards Rs. 640/680 levels, whereas Rs. 520 will act as a strong support level on a closing basis.

Nifty Technical Outlook for 28-12-2016.

Dead Cat Bounce, closed above 8000.

Yesterday Nifty started with flat to positive note, but in the second half trading session we saw a dead cat bounce which take Nifty to closed higher up by 125 points ended at 8033 level. It was a temporary recovery in Index after a substantial fall. Technically index is trading below 20 DMA and 50 DMA, indicate index still unable to find the support level, but index has closed above the neck line of the head and shoulder pattern, which would be a relief session for investor. For bulls to resume Nifty must closed above 8220 level, on the flip side 7900 will act as strong support level. This week will we can see more volatile into the market due to ahead of F&O expiry, it would be tuff fight between bull and bear.

For today, any trade below 8020 level Nifty can fall towards 7900, If Nifty closed below 7900, the one can sell for the target of 7600. 

ITC Ltd – Double Bottom Pattern

ITC Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 234.50 has given the breakout of descending triangle pattern, also we witnessed a double bottom pattern, indicate stock price can rally towards previous high swing, which look most likely. Momentum Oscillator MACD has given the positive crossover, which add more bullishness for the stock price.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 234 for the target of Rs. 258 levels, with Rs. 222 stop loss on closing basis.

Nifty for 27-12-2016. Closed below the Neck Line.

Nifty started the week on a weaker note ended lower down by 77 points closed at 7908 level, also it has break down the June month low, indicate index has lost the support level. Technically on daily chart index is making lower low pattern, which further add bearishness into the market. Likewise, we witnessed Nifty has closed below the neck line of a long head and shoulder pattern, if today once again Nifty closed below the same then most likely we can see another 700 points falls. For bulls to resume Nifty must closed above 8220 level, on the flip side 7673 will act as new support level.

For today, any trade below 7893 level Nifty can fall towards 7722. If Nifty closed below 7900, the one can sell for the target of 7600. 

Emami Ltd – Downward Sloping Trend Line

Emami Ltd on a daily chart stock price is making higher high and higher low pattern with increase in volumes, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 989 is on the verge of breakout of downward sloping trend line at Rs, 990 level, any trade or closed above the same stock price can rally towards previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above at Rs. 990 for the target of Rs. 1100 levels, with Rs. 930 stop loss on closing basis.

Maruti Suzuki India Ltd – Downward Sloping Trend Line

Maruti Suzuki India Ltd on a daily chart stock price is making higher high pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 5193 has given the breakout of downward sloping trend line at Rs, 5096 level, indicate stock price can rally towards previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 5190 for the target of Rs. 5535 levels, with Rs. 5033 stop loss on closing basis.

BEML Ltd – Rounding Pattern Breakout

BEML Ltd on a daily chart stock price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on daily chart stock price at Rs. 968 has given the breakout of rounding pattern at Rs, 938 level, indicate stock price can rally towards previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 968 for the target of Rs. 1100 levels, with Rs. 892 stop loss on closing basis.

Nifty Technical Outlook for 22-12-2016

Last hour trade index erases all its morning gain, ended lower down by 21 points closed at 8061.30 level, also index is trading below 20 DMA and 50 DMA, indicate index has lost the support level. Technically on daily chart index is making lower low and lower high pattern, which further add bearishness into the market. Likewise, we witnessed Nifty is forming a long head and shoulder pattern any breakdown of neckline at 7920, we can see another 700 points fall which look most likely. Nifty is having a strong support of June month low and trading above the same, airs relief session for the investor. For bulls to resume Nifty must closed above 8380 level, on the flip side 7920 will act as a strong support level.

For today, any trade below 8054 level, index can fall towards 8000 level, where one can used as an opportunity to buy Nifty with 7920 SL on closing basis. 

Mahindra & Mahindra Ltd – Downward Sloping Trend Line

Mahindra & Mahindra Ltd on a daily chart stock price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on chart stock price at Rs. 1185.10 is given the breakout of downward sloping trend line pattern at Rs, 1168 level, indicate stock price can rally towards previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 1185 for the target of Rs. 1300 levels, with Rs. 1140 stop loss on closing basis.

Nifty outlook for 20-12-2016.

Nifty started the week on weaker note ended lower down by 35 points closed at 8104 level, also index closed below 20 DMA, indicate index has lost the support level. If today once again Nifty closed below 20 DMA, then most likely we can see a new low for the month. Technically nifty started making lower low pattern also it has closed below the 20 DMA. Nifty is having a strong support of June month low and trading above the same, airs relief session for the investor. For bulls to resume Nifty must closed above 8380 level, on the flip side 7920 will act as a strong support level.

For today, any trade below 8095 level, index can fall towards 8000 level, where one can used as an opportunity to buy Nifty with 7920 SL on closing basis. 

Tata Chemicals Ltd – On the verge of Breakout

Tata Chemicals Ltd on a daily chart price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on chart stock price at Rs. 489 is trading near the breakout of downward sloping trend line, any trade or closed above Rs. 491, price can rally towards previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate above at Rs. 491 for the target of Rs. 553 levels, with Rs. 468 stop loss on closing basis.

Nifty Outlook for 19-12-2016

Last week Nifty closed lower down by 122 points ended at 8139 level, but on daily chart Nifty is still trading above the 20 DMA, indicate positive outlook for the index. No change in technical index is trading above 20 DMA but trading below 50 DMA, show index would be trading higher for short term but intermediate it would be watchful. Nifty is having a strong support of June month low and trading above the same, airs relief session for the investor. For bulls to resume Nifty must closed above 8380 level, on the flip side 7920 will act as a strong support level.

For today, any trade below 8128 level, index can fall towards 8053 level, where one can used as an opportunity to buy Nifty with 7920 SL on closing basis.

Glenmark Ltd – Symmetrical Triangle Breakout

Glenmark Pharmaceuticals Ltd on a daily chart price is making higher high and higher low pattern also stock price is trading above the 20 DMA, indicate positive outlook for the stock price. Technically on intraday 60-minutes chart stock price at Rs. 930 has given the breakout above the upper trend line of symmetrical triangle or continuation pattern at Rs.914, with sharp increase in volumes, indicate rally will continue towards previous high swing.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs. 930 for the target of Rs. 990 levels, with Rs. 896 stop loss on closing basis.