STOP LOSS: 11,545
Nifty has closed in the negative territory in the last trading session for the second consecutive trading session; however, this fall still appears to be wave IV on the hourly charts. The previous swing high is 11,549 and till those highs aren’t overlapped, the overall bias remains positive. The fall so far on the hourly charts appears to be wave IV as it’s a three wave correction. So, for the short term, we recommend buying for the target of 11,680 with a stop loss of 11,545.
STOP LOSS: 54
The stock has provided a breakout from the inverse head and shoulders pattern which is a bullish reversal pattern. The stock has also retested the neckline support and it has reversed again, hence we recommend buying this stock. The momentum indicator MACD is well in buy mode on the daily as well as weekly charts.
STOP LOSS: 952
The stock has provided a breakout from the multiple swing resistance with a clear buy crossover on its daily as well as weekly charts. The stock with this breakout has started wave III on this upside, hence it has a bullish momentum with a good risk to reward ratio.
STOP LOSS: 765
The stock has provided a breakout from a right-angled triangular pattern on the daily charts with a buy crossover on its daily as well as weekly charts. The stock has been forming higher tops and higher bottoms which a positive sign is going forward.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.