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Lead Engineer @HCLTech, Technical Research Analyst by hobby and Pursuing Chartered Market Technician from MTA (USA)
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NTPC has potential to test 250-300 or even 400 in next 3-4 years.
13 years of consolidation. CMP 107+
Close above 145-150 will trigger the multi year bull market in this stock.
Stock has given breakout on weekly closing basis.
Disc: Holding the stock from 106 levels
NMDC - 8-9 years of consolidation.
Stock has potential to touch 300 and then 500 levels in 3-4 years.
Close above 140 can trigger that move. CMP 127.
Disc: Holding this stock from 125+ levels
Stock No. 3
BHEL - Coming out of 6 years downtrend.
Gave breakout above 44-45 after 11 months of consolidation which is very significant bottom
Stock can do 128 and 200 in next 3-4 years
Disc: Invested from 41+ levels
Read 4 tweets
Nifty FMCG - Breakdown can test 31850 green line
Nifty IT - Below 24300 momentum on downside
Nifty Pharma - Serious breakdown can do 10800
Read 5 tweets
1 observation made on Index since feb 2014 which I will reveal to limited people. 😀👍
Please do not DM me😀🙏🙏
Since 2014 all rallies lasted for either 6 or 13 months pattern.
Current rally if repeats history expect good correction from 23rd March or 6th April 2021(13th Month)
All the rallies retraced 38-50% of previous move in 2-3 months
Except 2015-16 fall (9119-6825) which took more time to correct rest all the falls are done in 2-3 months
13 is a fibo number. Expect either new high or lower top formation. Let the market decide it. Strength of next upmove will decide the next big move in markets
Read 6 tweets
23 Sep 20
Dow theory considers only closing price
Since March 2020 index making Higher top and higher bottom pattern.
Last major bottom was at 10880
mini bottoms at 11,110 and 11,185 which were breached in last 2 days. Indicates short term down trend
Last top was at 11794 and then at 11618.
Previous bottoms 11,100 and 11185 were broken yesterday as shown by green lines.
Till last major bottom 10,880 is not broken, we may not see major downside.
Index dint close below 11100 though intraday price went till 11,020+
As long as price is above 10,880 major bottom it may go into sideways. only a close below 10880 can give more downside targets.
After rally from 7500 to 11800 index at times goes into sideways if major bottom is not broken. Break below that confirms medium term down trend
Read 27 tweets