Axis Bank Ltd –
Axis Bank Daily Chart, Axis Bank is in the uptrend. In the last few trading session, the stock is in the consolidation phase after having a good rally. This consolidation phase is now forming flag and pole formation. A daily close above high of the pole will give the good rally. The last candle tested the lower levels but close at some higher levels.
Bata India Ltd –
Bata India Hourly Chart, the stock is making stock bullish candles and making new highs. In the last trading session, the stock is in the consolidation phase. It gave the flag & pole breakout (bigger flag). Inside the bigger flag, there is small flag breakout. Long position can be initiated when the candle is closed above the high of a bigger flag.
Castrol India Ltd –
Castrol India daily chart, the stock was in a consolidation phase at lower levels and formed a triangle pattern. In the last session, it gave triangle breakout but not able to close above the previous swing high. Now here it has two possibilities first is it will continue its rally and make new highs. And the second possibility is it will try to retest the breakout levels.
JustDial Ltd –
Just Dial 15min chart, this setup is for intraday. The stock is in the downtrend, now it is trying to form a base. It has formed a triangle pattern and gave a breakout on 15min chart. After the breakout, it has formed the Inside bar pattern candle. Breakout of Inside bar pattern will decide a further direction of the stock.
REC Ltd –
REC daily chart, the stock gave a good rally. Now it is in the consolidation phase which formed pole and flag pattern and gave a breakout. But the breakout candle is not strong. So long position can be initiated only if candle closed above previous high and maintain higher levels.
Sakuma Exports Ltd –
Sakuma daily chart, the stock is in the uptrend. The was trading in consolidation before giving the breakout. Triangle formation at the higher or lower level is always indicated about upcoming big moves. It is always good to keep watch on this type of formations.
Surya Roshni Ltd –
Surya Roshni Daily chart, the chart explains everything. The resistance level was broken by a big strong candle. This resistance level is also neckline of an inverted head and shoulder pattern. The inside bar breakout at the resistance level indicates some big is happening in the stock.
Va Tech Wabag Ltd –
Va Tech Wabag daily chart, beautiful setup for a bullish rally. The stock felt from higher levels. The was in consolidation for months. Gave breakout with a big green candle. It has a small demand zone near the breakout level. I am hoping that it may retest breakout before a rally.
Yes Bank Ltd –
Yes Bank hourly chart, in the last trading session the stock has given big rally and it was up more than 6%. In the last two candles, some profit booking happened it resulted in the Inside bar pattern formation at the top. It is interesting to watch first half hour of trading.
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.