July 22, 2017

NIFTY weekly charts

- trend is up
- support 9700
- swing low 9400

BANK NIFTY weekly technicals

- trend is up
- swing low 2300
- next / deep support 20300

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July 21, 2017

Hot stocks and charts

LAST updated: 21-JUL-2017 

Simple rules

  • This information is for your study only and is not a recommendation to buy or sell.
  • Consider trend as UP when a stock gives a breakout above last month's high
  • To lock in gains, use a trailing SL (last month's low or last 2-3 weeks low)
  • Expect half the trades to (statistically) fail so manage the risk management in every trade
  • Limit risk per trade to maximum of 1% of your capital
  • In case of narrow ranges, consider the bigger / previous trading range as breakout levels
  • Pay attention to large bar breakout days or one day large reversal bars.
ADANIPOWER
ADANIPOWER chart

Stock watch: GSKCONS

- stock is trending down (bigger view)
- stock has corrected from 6800 levels to 4800 levels
- currently stock is trending up very slowly
- strong resistance around 5600 levels
- support 5200

Stock watch: GODREJCP

- trend is up
- stock trading near lifetime highs
- SL 900
- stock has generated 26% CAGR in 10 years

Stock watch: GLENMARK

- stock has recently generated a buy signal
- recent correction has been from 960 to 620 levels
- SL for long is 620

Market outlook

Daily charts
- trend is up on daily charts
- today NF closed 0.4% in positive
- AD was negative; VIX dropped 2%
- support 9700
- swing low at 9400
- expecting resistance around 10000 levels

July 20, 2017

Stock watch: GLAXO

- stock has corrected from 3600 levels to 2400 levels
- trend has now turned up
- support 2400
- expecting resistance around 2800



Stock watch: GAIL

- trend is down
- support 345
- sustaining above 400 will be bullish