HDFC Life Insurance after breaking out 646 it’s pre Covid-19 High has sustained very nicely above the breakout level and we can see a nice narrow range price squeeze on the technical chart with follow up attempting a minor breakout soon. #Bullish
HDFC LIFE INSURANCE MONHTLY LOG SCALE
On the Weekly timeframe we can see an Inverse Head and Shoulder Pattern Breakout and the price has sustained above the breakout level very nicely if we try to estimate the technical target for this script so it is 950+
Weekly chartSource- STATISTA
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Disclaimer- This post is shared for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss. PEACE.
In this blogpost we will be sharing our analysis on top 4 stocks in the alcohol sector sorted market cap wise:-
1. UNITED SPIRITS
As it is quite visible that the stock has already broke out from the descending trendline resistance and bulls are itching to reclaim the ATH once again. September monthly closing is going to play a very important role here and if the stock reclaims it’s ATH once again we might see some selling pressure as it’ll be breaking out after 5 years as the impatient investors who invested around this zone will be selling their stake aggressively. (Just a theory)
UNITED SPIRITS MONTHLY LOG SCALEUNITED SPIRITS MONTHLY LOG SCALE
A parallel channel pattern is also visible on the charts with good base formation in United spirits.
2. UBL
Attached below is the chart of UBL which was trading inside a parallel channel since 8 years and the stock has reclaimed it’s ATH recently. Though, the channel top is quite near which might give an opportunity to add this script on dips.
UBL MONTHLY LOG SCALE
3. GLOBUS SPIRITS
We’ve added Globus spirits in our portfolio when it crossed 422 in June series 2021 and by looking at the price structure it indicates that we are in the 3rd wave and there are no signs of reversal as of now. So one can keep this script on their watchlist as well to add on dips.
GLOBUS SPIRITS MONTHLY LOG SCALE
4. RADICO KHAITAN
In a larger timeframe; the coronavirus hit on this stock looks like a pullback and since then the price is not ready to give up. Another fine script from this space which is getting accumulated in every dip.
RADICO KHAITAN MONTHLY LOG SCALE
Radico khaitan is forming a very nice flag/rectangle pattern (Accumulation) right at the top and by the price volume action, it looks like selling is getting absorbed and we can see a decent move on the upside sooner or later (Just an estimate).
For queries related to this post or technical analysis you can mail us here at- Info@tradetales.in
Disclaimer- This post is shared for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss. PEACE.
After facing some heat from the larger Timeframe Trendline resistance Banknifty consolidated for almost 5-6 months if we look at a larger timeframe but in AUGUST it has closed nicely above 35600 which was acting as a resistance.
BANKNIFTY MONTHLY LOG SCALE
As of now chart of Banknifty indicates good accumulation just below the trendline resistance and if it takes out this resistance we can expect Banknifty to reach our previous target which is 42000. Link- https://www.tradetales.in/banknifty-42000/
BANKNIFTY DAILY
A daily close above 36870 and we are heading towards 42222. #HarmonicBat
For queries you can mail us here at- Info@tradetales.in
Disclaimer- This post is for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss. PEACE.
The NIFTY Smallcap 100 Index is designed to reflect the behavior and performance of the small capitalized segment of the financial market. The NIFTY Smallcap 100 Index comprises of 100 tradable, exchange listed companies.
View- Bullish Let’s look at the thorough technical analysis of Nifty SMLCAP 100 grab your cup of coffee.
CNXSMALLCAP100 Weekly time frame indicates that a golden crossover was panned out in the month of January later this year. As you can see when that happened earlier on 24th march 2014 it topped out in 2018 and we witnessed a sharp bull phase upside for 4 years (Round figure). Well, looking at the current scenario this crossover panned out in January and we are now expecting at least 2 to 3 years of bull phase in small cap space.
Also it is very near to it’s top once that happens bulls will have an open arena to crush the bears.
Monthly chart shows that after 1st April,2020 prices did not close below the previous month for even once which shows a very strong trend.
Taking two swings from 2008 top and 2009 bottom previous bull phase ended by completing it’s 1.618 retracement and we saw a long term top.
Now here if we manage to cross the Top Target is going to be 1.618 retracement which is 13644 just like before taking the two swings of 2018 high and 2020 bottom this target is estimated. If this setup plays out well position yourself accordingly and enjoy the next Bull phase which might last several Years.
Disclaimer- The analysis are only for educational purposes. Trade tales is not liable for your Profit or loss. Kindly refer to your financial advisor before taking any decisions. PEACE
Nifty closed at All time high 15435 this Friday after the monthly expiry. Now what next can we expect from the index as it is coming out from nearly 2 months of not clear trend one side but after closing above previous all time highs the sentiment is again bullish. Well, we are overall bullish on NIFTY but expecting a minor pullback ticket to the next bull phase because a Harmonic Bearish Alt shark was spotted on the index.
As this chart shows that the reversal zone for nifty is 15475 and if we pullback from here the next buying zone is at 14960 which is a very strong support according to technical analysis but if somehow bulls manage to close above 15475 (+- 10 points). This level will act as a very strong support.
Getting to the overall sentiment which looks quite bullish right now and assuming that we close above our reversal area what next might happen??
As you can see in the above chart NIFTY made a similar pattern in October series and after one month of accumulation there was a very strong rally which paused at the end of February 2021 but now the sentiment is again bullish and with fall in coronavirus cases bulls look again ready to hit all the walls of worry. Descending Trendline breakout here followed by a very healthy pullback is cherry on cake.
Also keeping in mind the Fib resistance 1.618 which was at 15413 from where the market got rejected last time and made a short term top is now breached and we are expecting a very strong rally ahead but with shakeouts to flush out the retailers.
All in all; the structure is quite bullish and we are expecting a minor pullback which might offer us a ticket towards next phase of bull market with high reward and low risk.
All these views and charts were shared on our telegram channel and twitter handles well in advance and this move was anticipated by us which gave quite good returns looking at the risk and reward ratio.
Disclaimer- This post is only for educational services, we are not liable for your profit and loss. Kindly consult your financial advisor before taking any decisions.
