BANKNIFTY
Bank Nifty will be at a resistance of parabolic upward trend line on monthly time frame. We have noticed this as a turnaround point everytime it came touched this trend line, it moves down.
EN
FR
DE
PIDILITIND
Broke down of the H&S pattern and moving down after retesting the 50 EMA at ₹ 2651. Enter at the current price of ₹ 2649 with the Target of ₹ 2335, stop loss at ₹ 2730 on the closing basis above 50 EMA.
GRASIM
Grasim Industries is breaking out from an Inverse H&S pattern along with MACD Histogram moving up. Buy at the current price of ₹ 1758 with the Target of ₹ 2210, stop loss at ₹ 1580 on the closing basis under 50 EMA.
INTELLECT
Stock post result fall has come to an important support and has entered into an oversold zone. Buy at the current price of ₹ 433 with the Target of ₹ 960, stop loss at ₹ 400 on the closing basis below the support of ₹ 430.
Nifty 50
Nifty 50 is breaking out from an inverse H&S formation as well as Bullish Flag pattern. Breakout point is Rs. 17900. Enter at the current price of Rs. 18013 with the Target of Rs. 19800. Stop loss at Rs. 16900 on the closing basis below the support of Rs. 17000.
ZYDUSLIFE
ZYDUSLIFE is taking support on the lower trend line and breaking out of 50EMA. Buy at the current price of Rs.430 with the Target 1 : 660(50%). Stop Loss at 340 (22%) on closing basis.
RELIANCE
Reliance Industries is Crossing over 50 EMA after taking support at the lower trend line. Buy at the current price of ₹ 2526 with the Target of ₹ 3150, stop loss at ₹ 2360 on the closing basis.
LAURUSLABS
Laurus Labs is breaking out from Pennant formation along with MACD Positive Crossover. Buy at the current price of Rs. 577 with the Target 1 of Rs. 775, stop loss at Rs. 520 on the closing basis under 50 EMA.
VINATIORGA
Vinati Organics is breaking out of channel’s upper trend line along with MACD histogram moving up. Buy at the current price of ₹ 2276 with the Target of ₹ 2700, stop loss at ₹ 2120 on the closing basis under 50 EMA.
SBIN
SBIN is breaking out from channel’s upper trend line and making an all time high. Breakout point is ₹ 543. Buy at the current price of ₹ 553 with the Target of ₹ 650, stop loss at ₹ 510 on the closing basis under 50 EMA.