CCL PRODUCTS : MULT-MONTH CHANNEL BREAKOUT !!!

CCL PRODUCTS : ATTRACTIVE CHART SETUP

The stock topped out in Feb 2017 and post that stock has been underperforming. 

After printing an All time high in Feb 2017, stock has been consistently making Lower high and lower lows. 

The underperformance continued almost for more than 3 years and now stock popping up some bullish signals. 

The stock was precisely trading inside Descending channel from last 3 year and now price has registered breakout from the same which marks an first bullish signal.

Moreover, the breakout has accompanied with surge in volumes and wide bullish candlestick.

From past few weeks stock price was struggling to break its previous swing high (260), however this week price has broke the ceiling and has closed above the same which is another positive signal.

Aswell, stock has been trading above 200 Exponential Moving Average which shows strength in price.

Furthermore, the Price-Volume indicator has reversed taking support near 0 reading which compliments bullish view in price.

The Strength indicator, MACD is above 0 reading and MACD edging higher converging its moving line which indicates prior trend likely to continue.

Following the price action and other indicators positioning, the stock price has potential to scale higher towards 310-350 in short to medium term.

The above view hold true till price does not close below 240 levels. The strong support is visible around 263-255 levels.

CCL PRODUCTS (W)
(Click to Enlarge)

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Disc. The above shared analysis is solely my view as per my understanding and knowledge and for educational purpose. I will not be responsible for any loss or gain incurred. 

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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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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