DISCLAIMER : THIS IS A BLOG TO TRACK MY PERSONAL ANALYSIS. SHARING IT TO PEOPLE FOR EDUCATIONAL PURPOSE ONLY. I AM NOT SUGGESTING A TRADE BASED ON THE LEVELS GIVEN HERE
The benchmark indices on July 14 witnessed profit-booking that dragged the Nifty below 10,650 on the back of selling pressure in auto, bank and metal stocks. At close, the Nifty ended 195.30 points or 1.81% lower at 10,607.40.
Lets see how the scripts we track fared per the analysis on July 14, 2020
Reliance Industries
India’s most-valued private company Reliance Industries (RIL) will hold its 43rd Annual General Meeting on July 15. The oil-telecom-to-retail major recently crossed Rs 12 lakh crore in market capitalisation becoming the first listed Indian entity to achieve the feat. It has successfully achieved its target - set in the last AGM - to become a net debt free well before its schedule of March 31, 2021
Reliance faced stiff resistance frpm the 1940 levels and it has reversed from the PRZ for a couple of days now. In the first session, the script made a low of 1888 giving a good SELL trade per the levels given. It later recouped the losses and closed the day around 1917.
So, tomorrow is the D-DAY; Will Reliance propel itself to 2000 based on the AGM outcome? 🤞
Intraday levels:
Buy above:
1910 - Target 1925/1940
1940 - Target 1950/1960
1960 - Target 1980/2000
Sell below:
1950 - Target 1935/1920
1920 - Target 1910/1890
Bharti Airtel
Bharti gave the much awaited breakout - opened at 584, made a low of 578 and zoomed to 596 during the start of the second session - it did not hold the highs and closed the day at 588. The script is still in the resistance zone and it needs a decisive breakout to goto the 600 levels. We will wait and watch if the breakout is for real or the 4 day streak fizzles out tomorrow.
There is also some rumor related to a deal with Verizon on Airtel providing the Secure Enterprise-Grade BlueJeans Video Conferencing to India on its network. Let's see how things pane in the coming days.
Intraday levels:
Buy Above :
576 - Target 581 / 588
588 - Target 594 / 600 / 604
Sell Below :
596 - Target 588 / 581
581 - Target 576 / 570
LIC Housing Finance
It was a one way fall for LICHSGFIN - opened around 272 and closed at 263. The weekly DoJI has so far given a good SELL side trade. 259 levels are important now and a possible bounce can come from there. If 259 does not hold, 248 will come soon.
Intraday Levels:
Buy above:
259 - Target 263 / 271
Sell Below:
265 - Target 259 / 255 / 248
HDFC Bank
A weekly DoJI and PRZ at 1125 gives a double confirmation for a SHORT trade. The 'B' point of 1066 in the ABCD has been breached and further up move is possible only if a close happens above 1066. The next major support would come in at 1019. A spinning top has formed on the daily - lets see if some reversal happens from here.
HDFC
HDFC showed a good reversal from the PRZ as per the XABCD pattern below. It has now fallen for the last 3 days and reached the bottom of the channel. Should we expect a reversal from this level ?
Comments
Post a Comment