Jigar S Patel
Jigar S Patel
At the current juncture, ICICI Bank has found support within its previous breakout range and has maintained this level for the past three sessions.
Asian Tiles has recently confirmed a significant breakout from a long-standing falling trend line, surpassing the Rs 86 mark
Apollo Pipes has recently demonstrated a classic technical pattern known as a triple bottom around its historical support level near the Rs 600-mark.
Recently, PNB has found a support level, forming a bottom around the Rs 114-116 range. This suggests that stock has likely reached a point where selling pressure is reducing & buyers are stepping in.
After reaching a peak near the Rs 101-mark in September 2023, the IDFC First Bank stock experienced a substantial correction of 30 points, translating to a 29.34 per cent decline from its high.
It is recommended to 'buy' Nykaa stocks within the price range of Rs 180 to Rs 185
Recently, Tata Steel experienced a significant decline, dropping nearly 22 points after forming a double top at the 180 level.
From a technical standpoint, the daily chart has revealed an inverse head and shoulders pattern with a neckline at Rs 1,620 & Bajaj Finserv stock is holding steady above this level around Rs 1,640.
True to this pattern, Tata Consumer has recently shown a decisive breakout, marked by substantial trading volume.
From a technical analysis perspective, the Daily RSI has reversed from 50 levels, further signalling a positive outlook for Bajaj Auto stock.
Between March 2023 and June 2024, Hikal has been consolidating within the approximate range of Rs 260-320
HDFCLIFE recently gave a clean breakout on the weekly chart, signalling a potential bullish trend. Prior to this breakout, the stock had been consolidating for 2 weeks
On an hourly scale, MRPL has been showing a consolidation pattern above the 21, 50, 100, and 200-period Exponential Moving Averages (EMA)
On a daily scale, Allcargo has formed a bullish alternate bat pattern following a sharp decline of 14 points, which translated into a substantial 19 per cent reduction in its price
Notably, SBI Life has recently broken out of this consolidation range and is now sustaining levels above it, indicating a potential upward trend
Following a peak near the 933 level, the SBICARD underwent a significant downturn, experiencing a sharp decline of nearly 280 points, which translated to a substantial decrease
PVR Inox has recently exhibited two significant technical analysis signals that indicate a potential bullish shift. Firstly, there is a bullish divergence on the weekly RSI near 30 level
After a period of consolidation within the approximate range of Rs 1,740-1680, Radico Khaitanhas successfully broken out and is sustaining above this range, indicating a strong upward movement
Titan stock can rally up to Rs 3,675, while Aether can soar to Rs 965, believes Jigar S Patel, Sr. equity research manager at Anand Rathi.
Berger Paints has shown a notable bullish pattern on its weekly chart, particularly near its historical support level of Rs 450