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.

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.

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