Centum Electronics

Below is the Monthly chart for Centum Electronics.

It shows a monthly flag kind-of formation and is retesting the upper trendline of the flag. A breakout above 720-750 on the monthly with volume expansion would take the stock to 900 odd where it would again face some resistance, breaking which I am expecting around 1400 as the target price in the near future.

Since this is a monthly formation, do not expect fireworks, the move up may take time and test your patience. And again, we are still pending breakout – so wait it out else a visit to the lower TL once again in the offing.

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Chart taken from snap.capitalmind.in/charting

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

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Nifty @ Support

Interesting point for the market. Some would say Do or Die level etc.

Here is a simple channel support on the Nifty. If we break this, the earlier channel would come into play and the markets would head lower else back to the top of the channel.

Lets see what Mr Market … errr .. Miss Nifty does.

Click on the chart to see an enlarged version or click here.

nssupp20161104

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Diwali Dhamaka – RIL

Looking at the lower timeframe, a falling wedge has been broken on the upside and a Bullish Wolfe Wave almost to trigger.

Reliance is my pick for November and Diwali. Lets see how dangerous this Wolfe turns out to be ….

ril20161028

Again, on the higher TF, we had broken out on the weekly and now retesting the breakout. A superb RR to go long on support/retest of breakout. Since this is weekly, buy in cash with some drawdown filter for stops (

Here is the chart for the weekly.

ril20161028wkly

Lets see whether this Diwali, does Motabhai’s fortune change and Lakshmi enters the world of the shareholders who have been holding this scrip since last few years with conviction.

 

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only

Nifty Bandit

Ha ha …. I liked the title so put it like this. Actually many a times, Nifty does work like a bandit and take away our money, no?

Nifty is at support area now. Lets see what it does, bounce or break. If breaks, we have another band nearby only.

nifty-20161027

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only

BankNifty

BankNifty – at/near support with channel/flag breakout retest.

Lets see if this holds or we have more pain. Only time and market will tell.

bn-20161027

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only

HUL – A long shot

Hindustan Unilever Ltd. is now resting at its Weekly trendline with another trendline confluencing at same levels of around 820-ish as of now. This is a very good level to go long with a stop below the trendline on a closing basis (but remember, this is a weekly chart, so weekly closing).

This is a cash chart and weekly, so short term traders should weigh all options actually before going long (drawdowns can affect rational thinking).

As you see, the RSI too – all dips on the price match the dips on RSI as well as the RSI Supportive TL.

Lets see what happens from hereon.

hul-20161027

 

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only