Updates for 4th September

PLS NOTE : All chart analysis posted below are the author’s own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone

 

Cadila Healthcare Ltd : 

Cadila Healthcare is moving in a bearish descending channel as shown above.

Price closed above the channel resistance indicating the bearish descending channel break.

Around 225 area is seen as a flip channel support area for retest.

 

ICICI Prudential Life Insurance Company Ltd :

Sideway range upside rupture is seen in the above ICICI Prudential Life Insurance Company Ltd price chart.

This might create a potential trading opportunity at flip support area of around 405 if we get a clear bullish rejection on daily time frame.

 

Petronet LNG Ltd :

Sideway range upside rupture is also seen in the above Petronet LNG ltd price chart.

We can keep an eye at flip support area of around 254 and watch for clear bullish rejection on daily time frame to get a buying opportunity.

 

TCS : 

Trend – Bullish

We have seen a clear false break at key resistance at around 2283 area.

Price failed to close above 2283 creating a giant false break.

Counter trade can be traded as a reason of agressive false break with a stop loss of 2297 for the target of around 2215 area.

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