Nifty Analysis –
Nifty reverse from resistance and also formed Dark cloud cover. Last week was very volatile because of many events and expecting this week also be a volatile as many events happening in the coming days.
Nifty had a rising wedge breakout on the daily chart. Possible scenarios can be – it will try to bounce from support or keep falling. Will try to retest the wedge breakout which also near resistance.
Following are the few stocks which are looking good for this Month
Bang Overseas –
International Paper APPM Ltd –
IPAPPM monthly chart, the stock gave a Triangular breakout after long consolidation formation from five months back and now it’s testing the breakout levels. I am expecting it will continue its journey after volatility becomes low.
Maharashtra Seamless Limited –
Maharashtra seamless monthly chart, Since last 2 years Maharashtra seamless was in a continuous uptrend and currently, it is in the consolidation phase which looks like a flag and pole formation but the breakout is still pending.
Usha Martin Ltd –
Wipro Monthly chart, the stock is in a triangular formation. But, unable to break the upper trend line in last three attempts. USD/INR appreciation will help IT industries in their revenues. I am hoping Wipro will be getting benefited from this.
Now few hourly charts for the week.
Balkrishna Industries Ltd –
Can Fin Homes Ltd –
India Cements –
United Breweries Ltd –
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.