Yesterday the trendlines were good to trade in all the stocks. There are three stocks which I selected for today. CIPLA, TATAMOTORS and TATAELXSI.
Below are the charts with support and resistances.
CIPLA was in the list yesterday also and it gave a good move and touched the support trend line. It stayed there and didn’t break.
Today it can be a buying opportunity if it sustains above the trendline. Below that it is a sell. The target for bullishness is upper trendlines and for bearishness, we should hold until there is some reversal pattern.
Targets upside could be 780/785.
TATAELXSI is forming a triangle in 15 Mins timeframe and whichever side it gives a breakout, that will be a trading opportunity.
RSI os 50.7 and MACD with histogram are showing small bullishness.
Targets could be 50 Points whichever side it gives a breakout.
TATAMOTORS opened with a gap up yesterday and came down closing the gap.
It now seems to be at the trendline support and seems to be running with nifty. If the market is bullish, then definitely this stock also can give an upside trend today.
RSI is showing a bullish divergence. If the breakout is a downside it could bounceback. Targets on the upside could be 130/132.