SBI : AT MAKE OR BREAK ZONE !!

State Bank Of India

The PSU banks has remained under pressure and have underperformed significantly.

The PSU banks has eroded investors wealth and has failed to bring cheers to investors portfolio value.

The PSU bank Leader State Bank Of India has been trading in long tight consolidation range of 200 points since 2010. Meaning the stock has remained in the range since more than 8 year as of now. 

Here the questions arise and adds fear,

What if Price gives a breakdown from the range. ???

The chart attached below is the Monthly chart of SBIN with Heikin Ashi Chart type.

The chart displayed highlights the stock has dropped back to Multi year historical crucial support area. Going ahead if price fails to hold the support, according to my analysis next strong demand zone is visible around 100 levels. And again if price witnessed bulls force emerging we can see decent up move and can developed good trading opportunity with favourable risk to reward ratio in place.

SBI MONTHLY
(CLICK TO ENLARGE) 

Furthermore extending the analysis looking from Time factor Adjoining bar counts on basis of Significant Swing Top and Swing bottom.

The chart attached below shows Price and 

Time Symmetry which helps in understanding the strength of support and resistance.

SBI Highlights bar count
(CLICK TO ENLARGE)

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ONGC : WHAT'S NEXT !?!

Oil and Natural Gas

This stock has been under pressure from last couple of months and has failed to bring cheers to investors portfolio.

I have done some analysis on longer term charts and will like to share the observation here.

The chart displayed below is the Monthly chart of ONGC. 

The highlight portion denotes the days count from Low to High (Green) and other from high to low (Red).

The stock enjoyed bull run from Oct 2008 to June 2014, where stock formed the peak. This process continued for 69 bars.

Similarly, from June 2014 to March 2020 the time taken is somewhat equivalent to its previous upmove.

Stochastic has given positive crossover on monthly scale which hints some positive signal.

The view/analysis/observation negates if price breaks and forms new low going forward.

ONGC MONTHLY CHART
(Click to enlarge) 

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AsianPaints - Some Interesting Observations !!

ASIANPAINTS 

The stock has been in a strong uptrend from last many years and every decline in price has bought into.

Asian paints has remain one of the favourite stock to own by big players.

Looking on to the weekly chart attached, it is evident that, stock has reversed finding support near the Moving Average Band.

Since year 2012, the stock price has formed a bottom at or around the Moving Average band.

There are multiple instances where price has reversed taking support at the Band shown in chart.

Furthermore , at few instances near the same juncture the stock price has found support near its previous high.

Currently,  the same scenario has been developing now.

Will history repeat again !?!?

AsianPaints Weekly chart
(Click to enlarge)

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Bharti Infratel : Bearish ABCD Harmomic pattern !!

BHARTI INFRATEL : TIME TO RIPE THE PROFITS !?! 

The stock has reversed smartly from the lower levels and recently have outperformed benchmark Index.

The rally from lower levels has led to develop probable bearish ABCD harmonic pattern on daily scale.

The BC has retraced 50% of AB followed by 200% BC Projection completing around 213. 

The ABCD ratio completes near 210.

Moreover, the pattern completes insync with price & time.

Thus, Potential reversal zone (PRZ) comes at 210-213 levels. 

This development of pattern hints trend reversal going ahead. 

The pattern shall negates above 218 CB !!

KEEP ON RADAR !!

BHARTI INFRATEL (D)

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LaurusLab : At strong support zone !!

LAURUSLAB LTD

The stock earlier registered decisive breakout from long Multi-month price pattern with supportive volumes.

Post, that price rally a bit and then saw profit booking at higher level. 

Now, stock has dropped back near breakout levels which shall now act strong support.

Price action and oscillator positioning indicates support likely to hold price may resume its prior upmove going forward.

View holds true till price does not close below mentioned support.

Keep on #radar 

#Pharma #nifty #TradingView #investing #bullish #view

LaurusLab Weekly chart

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Tata Consumer :- New Life High Possible !?

TATA CONSUMER  !!!
The stock has been trading in long multi month Ascending Parallel Channel.
The channel has drawn connecting significant highs.
Recently, stock surpassed above the Mid line of Parallel channel which signal bullish scenario.
Hints trend remain strong and possibly price may retest higher end of the channel and challenge its previous life high levels.
The trend strength holds true till price holds above Mid line of parallel channel

Keep on #radar
#Nifty #technicalanalysis #stockmarket #TradingView #investment #trade #FMCG

Tata Consumer Weekly Chart.

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