Technical Analysis Charts – Stock Ideas

This entry is part 1 of 2 in the series Technical Analysis - Stock Charts

2019-03-31

Technical Analysis Charts – Weekend Reading 1

Starting to put together some technical charts that I study over the weekend. The intent is to educate new investors/traders on how to use technical indicators and read charts. Here are few charts which I studied during the weekend:

1) BHEL (CMP: 74.95)

This PSU stock has given a cup and handle breakout. The volumes have also been extraordinarily high which has led the stock reach above 50 and 200 day moving average. The RSI looks very bullish. These all are highly bullish signals and can propel the stock to 85. The stoploss would be 68. The chart for the same is shown below.

Weekend Chart Reading - BHEL

Weekend Chart Reading – BHEL

2) Karnataka Bank (CMP: 133.7)

This undervalued private bank trades below its book value and looks attractive fundamentally. Even technically the stock has given an inverted head and shoulder breakout. A golden crossover also appears on the chart (below) where 50 DMA crosses the 200 DMA signalling bullish activity. The stock can show levels of 150 in coming days. The stoploss would be 125.

Karnataka Bank Chart

Karnataka Bank Chart

3) Jindal Steel (CMP: 179.85)

The stock has given an inverted head and shoulder breakout as shown on the chart below. The stock has moved above 50 and 200 DMA recently with high volumes. The stock can reach to levels of 200. The stoploss would be 170.

Jindal Steel Chart

Jindal Steel Chart

4) RBL Bank (CMP: 678)

RBL has given a flag and pole breakout as shown below in the chart indicating the levels of 700.

RBL Bank Chart

RBL Bank Chart

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Disclaimer: I am not a SEBI registered analyst and not advising anyone to buy. The purpose of this article is to share my viewpoint about fundamentals and the future prospects of the company. So, please do not consider this as an investment tip. Talk to your financial advisor before taking any investing call.

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