Tata Power Co Ltd. (NSE: TATAPOWER)
Closing price on Sep 3: ₹133.75
Tested the 134 - 136 level 3-4 times, and is showing a flag-and-pole pattern (1 hour time frame).
Could breakout from current levels.
My buy would be after a decisive close above 136, with a stop at just under 135, which should be confirmed with price action. My target would be open, preferably in the 4-6% range.
Infosys (NSE: INFY)
Closing price on Sep 3: ₹1700.65
Seems to be consolidating at ~1700 on Friday at the 1 hour time-frame.
Looks like it is taking support from the 15 min 200 and 400 EMA, and seems to have broken the down trend.
My buy would be after a decisive close above 1710, with a stop at 1694 and a target of 4-6%, but if it doesn’t break 1750, then I would like to get out, depending on price action.
Oracle Financial Services Software (NSE: OFSS)
Closing price on Sep 3: ₹4749.00
It is trying to break 4800, tested 5 times, with an upward ascending triangle pattern at the 1 hour time frame. Recent volumes are looking good and favourable stochastic at the 15 min level.
My buy would be with a decisive close above 4800, with a stop at just under 4710, and a target of 5000 (4%).
Angel Broking Ltd. (NSE: ANGELBRKG)
Closing price on Sep 3: ₹1234
Facing resistance at ~1250, with a strong up move with volume on Sep 3 (6%+), and a flag an pole pattern (consolidation) at the 1 hour time frame, and an upward triangle.
I would buy with a decisive close above 1250, or during a strong upmove which crosses 1250, because sudden moves happen here. I would like my stop to be at just under 1230 with a target of about 1400.
Cadila Healthcare (NSE: CADILAHC)
Closing price on Sep 3: ₹555.65
Forming a strong upward ascending triangle, with small upmoves and low volumes since a week and a half. Looking to breakout above 560.
I would buy with a decisive close above 560, with a stop at 553, and a target of 590-600 (6%).
Other stocks to keep an eye out for - IEX, BPCL, ONGC, VGUARD, TECHM, VOLTAS, CNETURYTEX, EVEREADY and the metals sector. Several breakouts possible if the rally continues in the IT sector.
Disclaimer: I am not SEBI registered or a formally trained trader/investor. These are my personal views which I may or may not follow through with. The content is not intended to be as buy or sell calls, and is just for educational/informative purposes. Please consult with a SEBI registered financial advisor before making any trades or entering the stock market.