Axis Bank Ltd – 

Axis Bank Ltd hourly chart, after having a good bull run Axis Bank facing some strong resistance near 750. Two times the stock tried to break the 750 level but failed both times. Spinning top candle at the top followed by bearish candles is indicating the stock is getting weak. I am bullish only if 750 level broken and managed to hold a higher level.

Hindalco Ltd –

Hindalco Ltd hourly chart, the stock was having a good run in the last week. But in the last two trading sessions, the stock is showing weakness and not participating in the rally. Currently trading above the pivot resistance of 202. But if the stock broke 200 level and manage to hold that level expecting some correction in the stock. It has also formed Inside Bar Pattern at closing breakout will decide next move.

LIC Housing Finance Ltd –

LIC Housing Finance Ltd hourly chart, the stock was in the good bullish rally. But in the last two trading sessions, the stock is not participating in the rally and trading in the range of 10 points. If the stock breaks 500 level and manages to hold the level for some time it will test lower levels. The stock has also formed Inside Bar Pattern at closing breakout will decide next move.

Larsen & Toubro Ltd –

Larsen & Toubro Ltd hourly chart, the stock is trading in the strong uptrend. In the last session, the stock has shown some weakness may be bulls taking rest before starting a new rally. There is an unfilled gap near 1350 it may try to fill that gap. The stock has formed Inside Bar Pattern at closing, the breakout will decide the next move.

Muthoot Finance Ltd –

Muthoot Finance Ltd hourly chart, the stock is trading in the strong uptrend. In the last two trading session, the price action is getting compact this will result in a sharp move on either side. The stock has formed a triangle pattern at the top, breakout on either side will give good action. It has also formed Inside Bar Pattern at closing.

V-Guard Industries Ltd –

V-Guard Industries Ltd hourly chart, the stock is trading in the strong uptrend. But in the last two trading sessions, it has shown some weakness and not participated in the rally. The stock has strong resistance near 220 levels which is broken but the stock is still trading near to that level. I am bullish only hourly close above 225.

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.


Leave a Reply

Your email address will not be published. Required fields are marked *