Cipla Ltd.

Enjoyed the Blast in Reliance or not? Remember DNA Test ?

And Nocil from 43 to almost 50 more than 10% and still looking hot.... 

Biocon already kissed 476... Recommended around 455...

And Nifty darling ... Remember our words or not?

Any close above 8066 and relief rally up to 8192... And what happened

Nifty Darling blasted and achieved all TGTs on upper side

But 

But still you are searching the blogs or multibagger stocks ?

Still listening to those jokers on TV and listening to their Bla....  Bla???

 

Everything is open and 100% transparent.

Join us and feel the power of Trend Trading.

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Will Dark Cloud Cover show its Power?

The counter has been in a downtrend for the last few weeks. During recent past it formed a base around 570 levels and started its northward journey and kissed 622 levels where its 20 DMA is placed. It witnessed gap up opening just a couple of sessions ago but bulls failed to capitalize the move. 

The counter has formed a Dark Cloud Cover Candlestick pattern on a daily chart. As mentioned it failed to cross its short term moving averages and witnessed reversal. On weekly chart too it has found resistance around its 50 WMA.  Though the momentum indicators are looking moderately bullish looking at the current chart pattern it seems that the counter may remain under pressure in sessions ahead.

 Short Position can be initiated around 605-607 levels with closing SL of 620 TGT 590-585 in a short term.

Biocon

The counter today formed a strong Bullish Engulfing candlestick on a daily chart. 

It not only captured its short term moving averages but also managed to close above its 200 DMA.

The volumes were quite higher than average volumes. Other technical indicators too have turned bullish. So at the current level the counter looks HOT. 

Bulls dominated the day and looking at the above factors possibility of further upside from current levels can't be ruled out.

Traders can go long on the counter 455 SL  435 (CLS) TGT 480-500.

Tata Motor : Swing Trading Opportunity?

The counter has been in a downtrend for the last four months. 

It has been hammered brutally by the bears without mercy from 600 levels. 

Just a couple of sessions ago it formed a Pin Bar on a daily chart and showed smart recover from the swing low around 434 mark.

Today the counter formed a beautiful Doji Candlestick pattern and just managed to close above the swing low mentioned earlier. 

This naked price action suggest that the supply might have got exhausted at least temporarily and bounce back can be expected in a near term. So risky ride of Tata Motor can be tried.

Swing traders can go long on the counter for short term perspective around 435-439 with SL of 425 TGT 452-455.

IRB Infra

The counter found support around 210 levels on couple of occasions and witnessed bounce back. During recent past it formed 2 pin bars on a daily chart after witnessing gap down opening but Bulls failed to capitalize on the same and the counter lost its short term moving averages. 

The pattern suggests the weakness and the counter is having in the firm grip of bears. 

 Other Technical Indicators too are supporting the bearish view. 

Short Position can be initiated with closing Stop Loss of 247 for the possible down side move up to 212-209 levels in a short term. 

Reliance Industries Ltd. : DNA Analysis

The recent price actions of Reliance Industries really surprised and forced to take deep look at the chart. The counter which was either remaining at par or under-performing the broader Indices suddenly started to out-perform the broader markets. So an attempt has been made to analyse the counter in a different time periods to help the Investors. 

As per daily chart Reliance today almost kissed its 200 DMA placed around 920 mark. On daily chart the counter found support at its 50 DMA and quickly regained its 20 DMA too. For the last four sessions it has been trading above its short term moving averages which is a positive signal.  RSI has moved above 50 and we have MACD Bullish crossover above zero line which is quite bullish. So in tomorrow's session if the counter sustains above 920 we may see possible rally up to 936-944 levels where the weekly resistance zone is placed. 

As per weekly chart the counter seems to have steadily started its northward journey as it has started forming Higher-High and Lower-Low on weekly chart. Weekly chart also shows the development of Symmetrical Triangle Pattern. Weekly close above 945 or 61.8% retracement may prove very powerful and the counter may rally 1014 to 1035 levels.

On a monthly chart Reliance crossed its golden ratio on multiple occasions however it failed to give the close above the same which seems to be placed around 1160 levels. Any  monthly close above the said level may took the counter to cross 1600 mark.

Conclusion : View is definitely  Bullish on these multiple time frames. The counter well deserves a place in medium to long term portfolio as it is expected to out-perform the broader markets  So traders can start accumulating the counter in a gradual manner. 795 seems to be reasonable stop loss level.