Nifty 50 –
Nifty hourly chart, the first support levels which discussed yesterday 10625 was broken easily. In the last hours of trading, Nifty bounced back strongly from the lower levels. Next strong support for the Nifty is 10590 and 10530. Nifty has many resistance levels 10740 and 10796. The supply zone for the Nifty is near 10780 – 10805. While trading Nifty one need to keep strict stop loss.
Apollo Hospital Enterprise Ltd –
Apollo Hospital enterprize hourly chart, the stock is trading in a downtrend. The stock is forming lower lows and lower highs which indicates weakness in the stock. But the stock has given the falling wedge breakout. The stock has the resistance near 1300. If stock traded above resistance and manage to trade above it for some time it may rally.
Bata India Ltd –
Bata India hourly chart, the stock is in the downtrend falling from the high of 1180 to 1090. From last few trading session, the stock has not corrected in the weak market. Bulls me be getting strong or bear may getting for the next assault. I am bearish only if low is broken.
Motherson Sumi Systems Ltd –
Motherson Sumi Systems Ltd hourly chart, the stock is trading in the downtrend. Making new lows on every trading session. I am interested in this because of only one candle Hammer. The stock has formed perfect hammer followed by a bullish candle indicates bulls are getting stronger. First few minutes of trading will show a clear picture.
NIIT Technologies Ltd –
NIIT Technologies Ltd hourly chart, after having a good rally the stock is in the consolidation phase. The stock has a triangle pattern at the higher levels. Breakout on either side will have good action in the counter..!!
Reliance Industries Ltd –
Reliance Industries Ltd hourly chart, we covered this stock in yesterdays post also. And I am still bearish on the Reliance industries. The stock broke yesterdays mentioned support level. It will try to retest the level if the stock failed to broke the level it will test the next support levels.
Sun Pharmaceutical Industries Ltd –
Sun Pharmaceutical Industries Ltd hourly chart, the stock has given down channel breakout which is a bullish sign. After channel breakout, the stock is trading in range forming flag pattern. If the flag is broken and stock manages to trade above it for some time it will give good action.
Tata Elxsi Ltd –
Tata Elxsi Ltd hourly chart, the stock was trading in the downtrend falling from higher levels. The stock is trading in the range in the last two trading session. Forming double bottom, if previous swing high is broken then some upside action is possible. It has formed a hammer at the support level.
Tata Motors Ltd –
Tata Motors Ltd hourly chart, the stock is making Lower Low and Lower highs indicating weakness in the stock. But in the last trading session, the stock has shown some bullish signs. If previous swing high is broken then the stock may give a good rally.
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.