Escorts Ltd –
Escorts Ltd hourly chart, the stock is in the uptrend. But in the last trading session, the stock has rejected higher levels and closed below mid-range. It has formed Inside Bar Pattern. How the stock will trade in the first hour of trading will decide the next move. Though it is evergreen bull stock and the favorite of many investors, some retracement is required for a further rally.
ITC Ltd –
ITC Ltd hourly chart, the stock is in the uptrend. The stock opened gap-up on 11th Jan but the gap was filled on 14th Jan. Now, this level will act as support level for ITC which is near 289.In the last few hours of trading after observing looks as profit booking happen. It has formed an Inside Bar pattern, I will be waiting for a breakout to trade in ITC.
Lupin Ltd –
Lupin Ltd hourly chart, from the last few trading session the stock is trading in the range of 812 – 850. In yesterday’s trading session the stock has formed a spinning top which is followed by doji at the resistance level. So it will be interesting how the stock will behave in the first hour of trading.
M&M Finance Ltd –
M&M Financials hourly chart, the stock is in the downtrend falling from the higher levels. The stock is in the consolidation phase between 442 – 446. The stock has formed an Inside Bar Pattern which is also double doji. So the breakout will be interesting to watch. If the breakout is given on upside it will be responsible for a small rally.
Muthoot Finance Ltd –
Muthoot finance hourly chart, the stock is trading in the uptrend. But it has failed attempt to break the previous higher level. The stock has also formed a spinning top followed by the strong engulfing bearish candle. If the stock traded below engulfing candle and managed to close below it, it may give small correction.
Torrent Pharma Ltd –
Torrent Pharma hourly chart, the stock is trading in the uptrend. But yesterdays the stock traded only in dojis means there is balance between buyers and sellers and both are confused about the upcoming move. It has formed a shooting star which is one of the strongest reversal patterns to trade. If any chance of initiating long position it will only when closed above a shooting star.
V-Guard Ind Ltd –
V-guard Ind hourly chart, the stock is trading in the downtrend and correcting from the higher levels. Now from the last few trading sessions, the stock has been in consolidation mode. I am looking for small risk here to initiate long position because risk reward is very good.
Voltas Ltd –
Voltas Ind hourly chart, the stock is trading in the consolidation phase from last few trading sessions. In the last trading session, the stock has formed a strong hammer followed by another hammer. The close of the second hammer is above the close of the previous hammer indicates bulls are getting stronger. It has also formed an Inside Bar Pattern. It will be interesting to trade in closed above inside bar pattern.
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.