Nocil Again. : Chart Study of Symmetrical Triangle Breakout.

Earlier we recommended the counter around 43 levels with Price Target of 55 and as per our expectations the counter achieved our Target delivering whopping return of almost 28% in no time. Again after retracing to its key demand zone around 35 levels the counter started steady recovery.

On a daily chart the counter seems to have given a Symmetrical Triangle Breakout with decent surge in volumes. On a weekly chart too the counter is showing very strong momentum. With Technical Indicators looking quite bullish on both daily and weekly charts the counter is expected to continue its northward journey in near term and might challenge its previous high around 55 levels.

SKS Micro : Chart Study of Bulls Trap

The Micro Analysis of Daily Chart of Sksmicro clearly points towards Bulls Trap. It posted a swing low around 360 with the burst of volumes. After consolidating for few days it started its northward journey which was not supported by volumes. Just couple of days ago it posted  intraday low around 436 and showed smart intraday recovery but failed to close above its 200 DMA. During today's session it witnessed gap up opening of more than 5% but gave a poor close and again closed below 200 DMA with quite higher than average volumes. We believe that the current set up is a clear hint of  probable Bulls Trap and expect more panic in the counter in sessions ahead.

HCL Technologies : Exploit the Opportunity

The counter gave false break out on a daily chart around 980 levels and witnessed a vertical fall from there. It found support around 811 levels and started steady recovery. It seems that the counter has formed a strong base around 825 levels during recent past. The increased volumes around its crucial support area of 790 levels indicates accumulation. The risk-reward ratio that the counter offers at current level seems to be quite favorable. Traders can exploit the opportunity  by resorting to buy on dips strategy applying closing stop loss of 790 for the possible upside move up to 945-955 in a medium term.

Adani Port : Swing Trade

The counter after posting a swing low around 293 levels started steady recovery. It witnessed a gap up opening opening around 305 levels and continued its northward journey to kiss its 200 DMA. At times bulls managed to close the counter above its 200 DMA but could hold it above the same. Again today the counter got resisted at its 200 DMA. With other technical indicators turning bearish it seems that the counter may trade with negative bias in sessions ahead. Sell 317.7 SL 324 TGT 307-303.

Voltas : Keep Your Family 'Wealthy'

The counter commenced a very strong uptrend after breaking 125 mark and posted all time high around 360 levels. Post such strong vertical rise the counter entered a correction phase and posted a swing low around 243 mark. On a daily chart it is very clearly visible that the counter has formed a very strong base around 243 levels during recent past. Technical Indicators on a daily chart have turned bullish suggesting positive momentum to continue for short term.

On a weekly chart it seems that the counter has completed its 4th wave correction and is about to commence its wave 5. Participants can accumulate the counter between 260-270  for 1-2  months perspective for possible up move up to 315-330 levels applying closing stop loss of 243.

 

 

 

 

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