FALLING CHANNEL PATTERN
Stock Radar: GHCL breaks out of Triangle Pattern, eyes fresh 52-week high
GHCL, a small-cap chemical stock, hit a 52-week high in September 2023 but subsequently declined. After bottoming out in March 2024, the stock regained momentum but failed to sustain it. It witnessed resistance above 500 levels but found support above 50 and 100-DMA in May and June, respectively, on the daily charts. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100, and 200-DMA — a positive sign for the bulls.
Stock Radar: 20% rally in 3 months! UPL breaks out of a downward sloping channel; should you buy?
After hitting a high of Rs 688 on July 4, 2023, the agrochemical stock lost its steam and before long it dropped steadily towards 400-450 levels in February and then again in March 2024. UPL has, apparently, formed a strong base above 400 levels from where it bounced back smartly. It rose over 20% in the last 3 months, Trendlyne data showed.
Stock Radar: 20% fall from highs! Dalmia Bharat breaks from Falling channel; time to buy?
Dalmia Bharat has seen a breakout from Falling channel pattern and a continuation of this can fuel momentum driving the stock towards 2,000-2,100 levels in the short- to medium-term. After hitting a 52-week high on December 14, 2023, the stock lost its steam and witnessed a steep fall, slipping below crucial moving averages.
Gold Price Today: Yellow metal opens flat at Rs 71,547/10 grams; silver falls by Rs 6,800 in June so far
As investors awaited the US CPI data scheduled for later in the day, gold prices for August futures contracts on MCX began the day unchanged at Rs 71,547 per 10 grams. In contrast, MCX July silver contracts have experienced a decline of Rs 6,800 since the beginning of June, opening today at Rs 89,317 per kg.
Stock Radar: Bata India showing signs of bottoming out after 17% fall from highs; time to buy?
Bata India Ltd, a key player in the footwear industry, has experienced a significant 17% drop from its recent high. Despite this, the stock is showing signs of stabilization and potential recovery.
Gold Price Today: Yellow metal prices fall by Rs 3,400/10 grams in 20 days; silver drops Rs 6,000/kg
Gold prices on MCX fell by Rs 3,400 in 20 days, opening at Rs 71,012 per 10 grams. Silver contracts on MCX also dropped sharply. The decline was triggered by a strong US jobs report impacting the USD and Federal Reserve decisions.
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Tech View: Dark cloud pattern seen on Nifty charts. What traders should do on Thursday expiry
Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart.
Stock Radar: Contra buy? Navin Fluorine reclaims 100-DMA after 30% fall from high
Navin Fluorine hit a high of Rs 4,922 on May 15, 2023, but failed to hold the momentum. It witnessed a price-wise correction, which took the stock towards 3,000 levels. It witnessed a swift rebound after making a low on March 14, 2024, which helped it climb above 100-DMA as well as 50-DMA on the daily charts. This suggests that bulls are trying to take control.
Private sector banking stock set to give 7% gains to it stockholders
Nifty recouped its initial losses and managed to close in the positive zone.
Stock Radar: Why IGL could be a contra buy after 28% fall from highs?
Indraprastha Gas fell 28% from record high but correction expected. Traders advised buying for Rs 530-560 target. Clean energy focus. Stock shows signs of bullish trend with support at lower channel.
Banking blues, investor jitters drag Sensex down for fourth day straight
Indian benchmark indices closed lower as banking stocks declined, with Sensex falling 455 points and Nifty dropping by 152 points. Top laggards included Nestle India, Titan, Axis Bank, NTPC, Tata Motors, and ITC.
Stock Radar: Down 40% from peak! Bata India forms bullish reversal pattern; time to buy?
The footwear stock hit a record high of Rs 2,261 on November 16, 2021, but failed to hold on to the momentum. It closed at Rs 1,341 on April 15, 2024, which translates to a 40% fall. If the stock stays above Rs 1,300, a possible bounce back towards Rs 1,500 could be on the cards.
Stock Radar: Hindalco breaks out from Symmetrical Triangle pattern; poised for record highs
Hindalco Industries stock a 52-week high in January, but failed to hold the momentum. It found support around 500 levels in March and bounced back. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts.
Small merchants join UPI, size of payments falls
Average ticket size of UPI transactions fell 8% to ₹1,515, while average credit card ticket size rose 8% to ₹5,276, according to data from Worldline.
Stock Radar: ICICI Prudential Life gives a breakout from bearish channel on weekly charts; time to buy?
ICICI Prudential Life Insurance Co. broke out from a falling trendline, aiming for a target of 689-690. The breakout was backed by support levels, moving averages, an inverse head & shoulder pattern, and bullish indicators. In terms of price action, the stock is trading below 5-DMA but above 20,30,50,100 and 200-DMA on the daily charts.
Stock Radar: Breakout from inverted Head & Shoulder pattern makes this speciality chemical stock an attractive buy
The stock hit a record high of Rs 2,961 on 7th March 2024 but failed to hold the momentum. It witnessed mild profit taking but the trend is largely on the upside. The speciality chemical stock gave a breakout from a falling trendline resistance on the upside as well as from an inverted Head & Shoulder pattern. The neckline of the pattern was placed around 2,800 levels. The stock closed at Rs 2,865 on 7th March 2024.
Stock market crash: Rs 3.15 lakh crore wiped off! Bank, Tata stocks drag Nifty below 22,350 mark
Benchmark equity indices closed lower as investors turned cautious ahead of key domestic and US inflation data. Power Grid Corp, Tata Steel, SBI, IndusInd Bank, NTPC, HDFC Bank declined, while Nestle India, Bajaj Finserv, Asian Paints, Tech Mahindra closed with gains. Market capitalisation declined. Global stock indexes also fell.
Stock Radar: Down 20% from highs! This smallcap stock is showing signs of bottoming out; time to buy?
Short-term traders, who can take higher risk, can look to buy the stock now for a possible target above Rs 830 in the next 3-4 weeks, suggested experts. The stock, which is also a part of the S&P BSE Smallcap index, hit a 52-week high of Rs 899 on November 12, 2023, but failed to hold on to the momentum. It closed at Rs 716 on January 20, 2024, which translates into a downside of over 20%.
Sensex falls for third day, ends 314 points lower dragged by financials
Nifty Financial Services dropped 1%, as HDFC Bank lost 3%, extending declines from its worst session in over three years on Wednesday. The IT index fell 0.6%, dragged by a 10.7% decline in LTIMindtree after it missed December-quarter profit estimates on weak demand and furloughs.
Stock Radar: Breakout from inverse Head & Shoulder pattern makes Symphony an attractive buy
Short-term traders can look to buy Symphony stock for a possible target above Rs 1000 level in the next 5 weeks, suggested experts. It hit a 52-week high of Rs 1,218 on March 1, 2023, but failed to hold on to the momentum. The stock closed at Rs 933 on January 15, 2024, which translates into a fall of over 23%.
Sensex snaps 5-day winning streak, slides 199 points dragged by IT stocks
IT stocks took a breather, falling 1.3%, after jumping 7.1% in the last two sessions on the back of better-than-expected results from the top four software companies. HCLTech, Wipro, Infosys, Tech Mahindra, and TCS were among the top Sensex losers, dropping between 1-2%.
Stock Radar: 20% rally in 3 months! This metal stock breaks out from a falling trendline; should you buy?
Vedanta Ltd has rallied over 20% in the last 3 months, breaking out from a falling trendline pattern. Short-term traders can buy the stock now, with a target of Rs 295-300 in 4-6 weeks. The stock rose from Rs 227 to Rs 274 in 3 months, and it has risen over 9% in a month. After a price-wise correction, the stock found support above the 200-week moving average and hit a 52-week high of Rs 340. It is now trading above crucial short- and long-term moving averages, with a bullish momentum.
Technical Stock Pick: Contra Buy! What does the 3-dip pattern tell about Kotak Mahindra Bank price movement?
The stock hit a 52-week high of Rs 2063 on 31st May 2023, but it failed to hold on to the momentum. The stock closed at Rs 1826 on 8th January 2024, translating into a fall of over 11%.
Stock Radar: 12% rally in a week! This PVC pipe maker breaks out from Ascending Triangle pattern
Finolex Industries stock hit a 52-week high of Rs 259 on 4th September 2023, but failed to hold on to the momentum. It bounced back after taking support above the 50-DMA on the daily charts last week. In terms of price action, the stock is trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts.
Breakout Stocks: How to trade Varun Beverages, Nippon Life and Oil India on Thursday
The Nifty50 fell more than 1% to close at 21,150 while the S&P BSE Sensex was down over 900 points. Sectorally, selling was seen in FMCG, banks, consumer durables, IT, and healthcare stocks
Sensex snaps 3-day winning streak, falls 169 pts dragged by IT & financial stocks
Nifty Banks and Financial Services lost 0.6% and 0.4%, respectively, after rising 2% each in the last two sessions. Information technology stocks fell 0.3%, snapping a two-session rally in which the index rose about 8%.
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