Nifty 17468.65 (1.70%)
Sensex 58628.75 (1.73%)
Nifty Bank 37269.95 (1.78%)
Nifty IT 35951.3 (1.93%)
Nifty Financial Services 18286.25 (1.71%)
Adani Ports 764.05 (2.60%)
Asian Paints 3109.80 (2.62%)
Axis Bank 696.15 (1.33%)
B P C L 391.05 (0.84%)
Bajaj Auto 3330.90 (1.35%)
Bajaj Finance 7375.00 (3.83%)
Bajaj Finserv 17623.40 (3.01%)
Bharti Airtel 715.60 (2.40%)
Britannia Inds. 3570.05 (2.76%)
Cipla 897.50 (0.93%)
Coal India 150.80 (0.10%)
Divis Lab. 4605.85 (-0.41%)
Dr Reddys Labs 4568.45 (1.06%)
Eicher Motors 2500.00 (1.14%)
Grasim Inds 1715.20 (1.76%)
H D F C 2851.05 (1.19%)
HCL Technologies 1171.70 (1.92%)
HDFC Bank 1553.00 (1.79%)
HDFC Life Insur. 686.25 (-1.17%)
Hero Motocorp 2489.00 (1.10%)
Hind. Unilever 2338.95 (0.75%)
Hindalco Inds. 457.50 (3.39%)
I O C L 120.40 (-0.17%)
ICICI Bank 753.25 (2.53%)
IndusInd Bank 942.60 (1.72%)
Infosys 1754.00 (2.47%)
ITC 224.65 (1.81%)
JSW Steel 673.95 (2.01%)
Kotak Mah. Bank 1920.95 (-0.84%)
Larsen & Toubro 1825.35 (1.52%)
M & M 840.20 (1.73%)
Maruti Suzuki 7428.05 (3.36%)
Nestle India 19480.00 (0.70%)
NTPC 127.30 (1.56%)
O N G C 148.50 (1.78%)
Power Grid Corpn 204.95 (-0.41%)
Reliance Industr 2417.95 (1.52%)
SBI Life Insuran 1169.40 (0.88%)
Shree Cement 26209.70 (1.80%)
St Bk of India 491.30 (3.06%)
Sun Pharma.Inds. 758.05 (1.93%)
Tata Consumer 772.20 (1.51%)
Tata Motors 493.60 (2.45%)
Tata Steel 1174.25 (2.22%)
TCS 3624.85 (1.13%)
Tech Mahindra 1601.95 (1.60%)
Titan Company 2404.90 (1.02%)
UltraTech Cem. 7422.00 (1.68%)
UPL 728.55 (0.22%)
Wipro 642.40 (1.58%)
Chart Busters: Top trading set-ups to watch out on Monday
by 5paisa Research Team 15/11/2021

In the last five trading sessions, the benchmark index Nifty has gained nearly 186 points or 1.03%. On the weekly chart, the Nifty has formed a bullish candle with a long lower shadow, which indicates buying pressure at lower levels. On Friday, the Nifty index has gained 1.28% but the advance-decline ratio was in the favour of decliners. Interestingly, the Indian Volatility Index (VIX), a gauge for the market’s short-term expectation of volatility, slipped by nearly 7% to end at 15.22.

Here are the top trading set-ups to watch out for on Monday.

JK Cement: Considering the daily chart, the stock has given a downward sloping trendline resistance breakout on November 08, 2021. After registering the high of Rs 3838, the stock has witnessed minor throwback along with low volume. During the period of a throwback, the stock has retested the breakout level and started rising higher. Further, since the last two trading sessions, the stock has formed a candle with a long lower shadow. The long lower shadow of the candle is indicating buying pressure near the support level.

Currently, the stock is trading above its short and long-term moving averages. These averages are in a rising trajectory. One interesting observation on the leading indicator RSI is that in the recent throwback the RSI has never slipped below 60 levels and it has taken support near 60 and started rising higher. This indicates that the stock is in a super bullish range as per RSI range shift rules.

Talking purely about the trading levels, the zone of Rs 3570-Rs 3545 level is a crucial support area and the prior swing high of Rs 3838 will act as minor resistance for the stock.

Hisar Metal Industries: The stock has formed a bearish belt hold candlestick pattern as of July 23, 2021, and thereafter witnessed correction. The correction is halted near the 38.2% Fibonacci retracement level of its prior upward move (Rs 35.20-Rs 165) and it coincides with the 50-week EMA level. Currently, the stock has formed a strong base near the support zone and it is on the verge of giving a downward sloping trendline breakout. Further, on Friday the volumes recorded were above the 50-days average, which is a sign of accumulation before the actual breakout happen.

In addition, on Friday, the stock has surged above its 20-day, 50-day and 100-day EMA levels. The 20-day EMA and 50-day EMA has started edging higher, which is a bullish sign. The leading indicator, 14-period daily RSI is currently quoting at 58.19 level and it is trading above its 9-day average. The momentum indicator MACD line has crossed above the signal line, which resulted in the histogram turning positive.

Going ahead, in case the stock is sustained above the trendline resistance then we may see a sharp upside in the stock. The trendline resistance is placed in the zone of Rs 132.50-133.50 level. On the downside, the recent swing low of Rs 121.30 will act as support for the stock.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Start Investing Now!

Open Free Demat Account in 5 mins

There is some issue, try later