The Index closed in the positive territory in the last trading session and it has formed a bearish head and shoulders pattern on the daily charts. The momentum indicator too is in sell mode, hence we recommend to sell Nifty for the target of 11312 levels with a stop loss of 11560 levels.
The stock has formed a symmetrical triangular pattern in its wave 4 and wave 5 up is likely. The momentum indicator too is well into the buy mode.
The stock has provided a breakout from the inverse head and shoulders pattern which is a bullish reversal pattern. The momentum indicator is well into buy mode which is again a positive sign for the bulls.
The stock has provided a breakout from the downtrend line resistance with an increase in volumes and positive crossover in its momentum indicators which increases the probability of an upside.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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