Insights on Stock Performance from Analyst Sanket Thakar
Sanket Thakar, a Certified Market Technician and the Founder of Alpha Bot Capital, shares his analysis on three stocks that made significant moves in the market. Letโs delve into his insights on Tejas Networks, Cochin Shipyard, and Bharti Airtel.
Tejas Networks Breaks Out of Flag Pattern
Tejas Networks displayed a breakout from a Flag pattern on the weekly timeframe, accompanied by substantial trading volumes. The stock might encounter resistance around 1088 before potentially reaching the 1200 level if it sustains above this mark throughout the week. The overall trend for Tejas Networks appears bullish and optimistic.
Cochin Shipyard Sees Flag Pattern Breakout
Cochin Shipyard experienced a breakout from a Flag pattern on the intraday charts, pointing towards upward targets at 1328 and 1412 in the upcoming days. The overall trend for Cochin Shipyard remains bullish, with a support level identified below at 1020.
Bharti Airtel Faces Trendline Resistance
Bharti Airtel recently underwent a robust uptrend rally but is currently encountering resistance at the trendline around 1,355 on the intraday charts. This level may attract short-term profit booking, potentially leading to price retracements at 1,318, 1,298, and 1,281 in the near future. However, a breakout above the trendline could propel the stock towards the 1398 and 1425 range.
Hot Take: Summary and Recommendations
In summary, the Indian market performed positively for three consecutive days, with notable movements in stocks like Tejas Networks, Cochin Shipyard, and Bharti Airtel. Analyst Sanket Thakarโs insights shed light on the potential trajectories of these stocks based on recent patterns and trends.
If youโre considering investing in these stocks, it is essential to conduct thorough research, consider your risk tolerance, and potentially consult with a financial advisor. Keep an eye on market developments and individual stock performances to make informed investment decisions. Remember, the market can be volatile, so stay vigilant and adapt your investment strategy accordingly.
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