Nifty 50 –

Nifty index spot hourly chart, Nifty spot has given head and shoulder breakout. The index was trading in the channel. The index was taking support trendline (Smaller Blue). It looks like Nifty will test 10700 in upcoming trading sessions. 10900 – 10880 will act as a resistance zone.

Adani Ports and Special Economic Zone Ltd –

Adani Ports and Special Economic Zone hourly Ltd chart, the stock gave triangular breakout but failed to sustain the higher levels. Now the only hope is lower trendline if the lower trendline is broken then next support is near 372 – 374. And if manage to keep trendline support it will give good rally.

Aurobindo Pharma Ltd –

Aurobindo Pharma hourly chart, the stock is rejecting the higher levels. Inside bar pattern is formed near resistance levels of 794 and breakout is happened in the last trading session. I will initiate long only above if crossed and closed above 794. Till then I am bearish in the stock.

Bharat Forge Ltd –  

Bharat Forge hourly chart, the stock felt from higher levels now it is in the consolidation phase. Above close above494 stock will have a good rally. Otherwise,  the stock will test the lower levels. It is also forming a triangle pattern, a breakout above upper line will give a good move.

Century Textile and Industries Ltd –

Century Textile and Industries Ltd, in the last post we covered this stock. It gave rally which I was expecting but the market was not in the good mood to support the stock. So the stock closes on lower levels after a good rally. Again I am bullish in the stock if today’s high is broken and stock sustains above last high.

Delta Corp Ltd – 

 

Delta Corp Ltd hourly chart, the stock is felt from the higher levels of 272 to 233. This is a very risky bet to initiate long. The stock has shown some sign of bulls getting back in the game.

Ultratech Cement Ltd – 

Ultratech Cement Ltd hourly chart, the stock was in the downtrend felt from higher levels, Now the stock is in the consolidation phase. It is forming the traingulaer pattern at the lower side. If the breakout happens on the upper side stock will give a good move. Otherwise, it will keep falling and will make new lows. The stock is respecting the Fibonacci retracement perfectly. The retracement of 0.382 is indicated by the red circle, now it is at the support of the retracement level.

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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