Nifty 50 –

Nifty 50 hourly chart, after many days of consolidation Nifty, had broken down. the trendline support. Nifty was trading in the triangle pattern, but it has formed head and shoulder pattern in the smaller timeframe in the triangle. Now Nifty has support near 10525 and next support is 10325.

Apollo Tyres Ltd – 

Apollo Tyres Ltd hourly chart, the stock was trading in the downtrend. But in the last trading session, the stock does fall compared with Nifty & other stocks. It was trading in the range. If the stock trade above the previous swing high for and sustain higher levels. It can give a good rally.

Biocon Ltd – 

Biocon hourly chart, the stock is trading in the downtrend. Biocon has corrected sharply from the higher levels. In the last trading session, the stock tried to rally but it was reversed from the  Fibonacci level of 0.38. I am bearish on the stock until the previous high is broken.

Engineers India Ltd – 

Engineers India Ltd hourly chart, the stock has corrected from the higher levels. In the last trading session, the bulls have shown some stronghold in the stock. The stock does not follow the Nifty and others in yesterday’s fall. So expecting some rally if 115is crossed and manage to trade above it.

Godrej Consumer Products Ltd – 

Godrej Consumer Products Ltd hourly chart, the stock was falling from the higher levels. After that, it was in the consolidation phase forming and trading in the channel. But in the last session, the stock has broken the channel. Now it has formed Inside Bar Pattern, if the pattern broke on upper side it has supply zone near 770 and stock may reverse from the level. Or the stock will keep falling if Inside bar pattern is broken on the lower side.

Reliance Ind Ltd –

Reliance Ind Ltd hourly chart, after having a good rally the is trading in the range. The stock is looking weak to me until the previous high is broken and sustain the higher levels for some time. The stock has support levels near 1220 if this level is broken it will test the support 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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