Trade Research – NSE METROPOLIS, HCLTECH, GLAXO & More

Timeframe: Daily

On the daily time frame chart, NSE METROPOLIS is trading above the 100 EMA and heading towards the 200 EMA. The price has formed a descending channel with lower highs and lower lows. However, after reaching a low of 1171.3, the price started making higher lows instead of lower lows, indicating a potential reversal of the downtrend.

The rising average true range (ATR) confirms the trend with increased volatility. Yesterday, the price broke out of the channel, forming a large candle above the upper band of the channel. Additionally, the price has broken down the long-term resistance line.

The breakout zone is currently 6% away from the current price, which is in agreement with the percentage method. The Gann method also supports this trade setup, as the price has been continuously trading in the same trend. price broke out of the channel with good volume confirms the validity of the breakout point. Increased volume during a breakout is generally seen as a sign of conviction among traders, indicating a higher likelihood of a sustained trend reversal.

NSE HCLTECH – Breakout Setup

NSE HCLTECH stock has been trading within a range of 1074 to 1052. If the stock price breaks out of this range, it will cross the 200-day exponential moving average (EMA). The average true range (ATR) of the stock price is 16, indicating the volatility of the stock. Additionally, the relative strength index (RSI) has crossed above 50, signaling a potential bullish trend.

Traders may consider buying the stock if it maintains a price above 1066.6, with target prices of 1073 – 1083 – 1095+. Using the previous day’s low as an invalidation point is recommended.

On the other hand, if the stock price breaks down below 1052, price can reach up to 1026.

NSE GILLETTE – Weak Trend Don’t Survive

On the daily timeframe, the NSE GILLETE stock appears to be bearish. After encountering resistance from the 100-day exponential moving average (EMA), the stock price has been declining. The relative strength index (RSI) has dropped from 71.23 to 63.69, indicating a decrease in bullish momentum. The stock price began declining after reaching a high of 4698.

This trade setup is considered high risk, high reward as the stock is trading near a recent high. Traders may use the Demark or Gann methods to determine whether the peak is reliable or not. These methods rely on identifying potential trend reversal points based on the price and time of an asset If the stock price sustains below 4623, traders may consider selling the stock with target prices of 4589 – 4545 – 4503+.

NSE AAVAS – Bottom Fishing

On the daily timeframe chart, NSE AAWAS has reached a bottom at 1384.6, which is supported by the 3% filters and Gann method. The relative strength index (RSI) of the price has risen from 23 to 39, indicating a possible reversal of the bearish trend.

However, the stock price is facing strong resistance at 1480. If the price breaks out above this level, traders may consider buying the stock with target prices of 1517 – 1574 – 1623.

NSE GLAXO – Bullish Structure Formation

NSE GLAXO has broken the resistance zone at 1252, indicating a potential upward movement. Additionally, traders may observe a broadening pattern in the daily timeframe, suggesting increased volatility.

The resistance zone was previously formed near the bottom, with multiple wicks indicating significant buying interest. The relative strength index (RSI) of the price has risen and reached the 50 level, with visible price divergence on the chart.

If the price sustains above the 1252 level, traders may consider buying the stock, with target prices of 1262 – 1274 – 1288.

Please note that further information will be provided shortly.