LIVE Market Technicals with CK Narayan

If you care to look at technical charts before taking investment/trading decisions in the stock market, this is the place you should be visiting regularly. CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!

Is BPCL headed back to value area?
BPCL got drubbed yesterday on chatter of delay in divestment. Chart shows some interesting trends: Prices are in a good value zone with multiple pivots around Rs 380-400 area. The stock had broken out of the range and rallied 30% higher on large volume and then reversed gains to fall 30% from the value area. It staged a repeat performance with a high volume breakout but the move has been quickly snuffed out, unlike the last time. So, the stock may need to fall back to the value zone to marshal strength once again before advancing afresh which means a return to the Rs 390-400 area.

SBI Life stock a buy with target price of Rs 940
Strong moves were seen in SBI Life stock at the end of Thursday’s trading session, with a range breakout visible on the charts. The move has set off two kinds of trades on the Neotrader software. First, the strong thrust creates a BTST type trade which would has been taken in the market around Rs 906 levels. Second, the strong surge also created momentum signals by the end of the day around Rs 913 levels.

This can be seen on the chart (source TradingView) as long body breakout.

Stock is a buy for a target around Rs 940. Stops to be maintained below 900.