Sun Pharma

Looking at the chart from a distance, my view is that 720-10 could be revisited. But please do remember that 730 approx is a double bottom too previously and that Mr Market is a ‘Class A’ bluff master and sometimes we call the bluff, sometimes we have to eat our views. Thats how it is.

Of course, I could be wrong, as I have been, many times. Mr. Market

Here is the chart, self explanatory (click here or on the image to enlarge)

sunpharma_20161101

Previously had a view which didn’t work out all the way though. Here it is.

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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ITC – Get Well Soon AP

AP is not well and therefore this chart, to get him back on track faster than normal. (yes, I AM #wicked, no? AP?)

ITC on the daily is forming one big Inverted HnS from 190 to 265 ie 75 pts for the taking. But before that on the shorter EOD view, it has retested the 200ema and now formed the right shoulder. Sustaining these levels and moving back to 265 is the T1 and can be traded on the FnO.

The second the bigger part of the journey for ITC would be the break above 265-268 levels and sustain that. That would trigger the I-HnS and a target of 330 approx.

itc-20161031

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

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