AstraZeneca - a Pill for profits

AstraZeneca has broken out from the horizontal channel, BULLS ARE IN CONTROL. The horizontal breakout has a target of 1950 on the upper side. 

The volumes have grown substantially in the last 2 days of trading pointing to the fact that people are expecting prices to rise further. 

Other technical indicators are also confirming the bullish move in Astra

Parabolic SAR has crossed below the price which again denotes buy side moves

MACD signal line has crossed the MACD line which recommends us to take buy side postions 

ADX is also rising and DI+ has crossed DI- which indicates the uptrend

Plan of action- Buy around 1760-70 with a stoploss of 1725
TARGET -1850 , TARGET2-1950 

Deepika Solanki, Technical Analyst
Team TopdataIndia

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Tata Power - Lights on or Lights off

On the weekly charts of tata power, we can see the formation of symmetrical triangle.

A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trend lines. A break below the lower trend line is used by technical traders to signal a move lower, while a break above the upper trend line signals the beginning of a move upward. 

The formation is in place but the breakout is yet to happen so we will advise you to take a position only on the confirmed breakout of these trend lines and as a confirmation sharp increase in volume at the time of breakout will strengthen our report


PLAN OF ACTION : 
BUY Tata Power above 102SELL Tata Power below 91Targets and stoploss will be given later once the breakout is confirmedPlease follow this blog as we will revise the breakout levels if time passes by

Heeta Luthra, Technical Analyst

Team TopdataIndia

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ZEE - Bears are coming to learn

A clear negative divergence in the price and RSI is visible on the charts. The prices of ZEE are moving up while the RSI is making lower tops, technically the upside in ZEE will loose momentum and retrace to previous supports.
Together with divergence today the candles patterns have given a clear verdict for fall. After a small doji like formation, ZEE fell breached the lows of the last 2 trading sesions. A volume analysis on the last 3 days show that on 16th Aug 12 trading ZEE recorded the highest volumes in comparison to the last few days of trading. This adds more weight to our bearish view on ZEE for the next couple of weeks.

ACTION - Sell on rise with a SL of 175.5. Target 161   

Heeta Luthra, Technical Analyst
Team TopdataIndia

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