Nifty Analysis – 

Nifty spot 15 min chart, Nifty is trading in up a channel but it has strong supply zones just above the channels. Top supply zone is the strongest zone because it is on the hourly chart. It also has two demand zones on lower side hope it will respect the demand zones.

CESC Ltd – 

CESC hourly chart, small Bull flag formed on the hourly chart. It also has a small demand zone near 700. The will initiate long only if it closed and managed to hold the higher levels.

Elgi Equipment Ltd – 

Elgi Equipments Ltd daily chart, Bull flag formation is in the process. Though it managed to rally it was unable to close above the previous high. Closing above the high will add strength to further rally. It has a small demand zone near 240 levels.

Gayatri Projects Ltd – 

Gayatri Projects Ltd daily chart, another flag formation in the process but the stock unable to break the previous high. Closing above 200 is a good signal because already formed triple bottom. And any stock rarely fails triple bottom.

Intellect Design Arena –

Intellect Design Arena daily chart, small bull flag formation is in the process. And also it has Inside bar formation in the flag. Closing above the higher levels will add strength to the rally.

Justdial Ltd –

Justdail Ltd daily chart, another flag, and pole formation but not convinced in the formation because the number of dojis in the flag. Today’s price movement is very important in stock.

Muthoot Finance –

Muthoot finance ltd hourly chart, though the stock is in the bulls control and gave good rally. But in last trading session, it has formed a very strong bearish engulfing pattern which is a strong reversal pattern. It has two demand zones just below engulfing I am hoping for a reversal from demand zones.

Nitco Ltd – 

Nitco Ltd daily chart, this is one of my favorite patterns to trade in stock short to midterm. The stock had corrected more than 50-60%. Was in a consolidation phase for a number of days. Gave breakout from consolidation, now it forms Inside bar formation breaking and waiting for inside bar breakout.

Piramal Enterprises Ltd – 

Piramal Enterprises daily chart, PEL is trading in the triangular pattern which is also a consolidation phase. Breakout on either side will give good momentum to the stock I have added PEL in my watchlist.

RBL Bank Ltd – 

RBL Bank Ltd hourly chart, trading in ascending triangle formation. Right now on the lower trendline support if broken stock may fall. Otherwise, it will try to break outside of upper trendline.

State Bank of India –

State bank of India 15 min chart, SBI is corrected after forming a double top. The stock is in the bearish flag formation but there is support and stock not closed below it. So first half hour of movement is important.

Skipper Ltd –

Skipper Ltd daily chart, the stock is corrected more than 50% and now trading in the consolidation phase. Breakout on either side will give momentum to the stock.

Vimta Labs Ltd –

Vimta Labs Ltd daily chart, the stock gave falling wedge breakout now it has formed Inside Bar formation. Waiting for the breakout.

Disclaimer – 

The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display. 

 

 


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