Santosh_A_Chavan

Santosh_A_Chavan

AXISBANK is currently trading at a big resistance zone that is trying to break it. This Resistance zone has touched 5-6 times in the past but could not breach it. If AXISBANK breaks this resistance zone it is a very good candidate to go long for target of 1000-1100s . Entry :- 825 SL :- 722 (Last swing low) Target :- 1022 Please Note:- AXISBANK is almost at...

Santosh_A_Chavan Updated 

IGL has created a very good 'Flagpole Pennant pattern on daily basis. There was sharp upmove observed from the levels of 350 -440 (8 aug - 16 Aug). After that the stock has been consolidating only from last 10 sessions and the range is getting smaller and smaller creating a pennant. What Is a Pennant? - A pennant is a type of continuation pattern. - When...

Santosh_A_Chavan Updated 

IDFCFIRSTB is in uptrend right now from last 25-30 sessions. From last 3 sessions there was some decline observed in IDFCFIRSTB as it was trying to cross a major resistance zone of 44-46. Today IDFCFIRSTB has created a huge bullish engulfing candle which engulfs almost last three day's candles. Volume also looks good - Resistance Zone also broken so IDFCFIRSTB...

Santosh_A_Chavan Updated 

NIFTY has formed a nice Inside Candle day befor eyesterday. If NIFTY breaks above 17700 :- Carry forward buy above 17700 for target 17922/18036 IF NIFTY breaks below 17470 :- Carry forward sell below 17468 for target 17241/17127 Breaks should be on the closing basis of the daily candle OR trade can be taken after 3:00 /3:15 PM if levels are broken. This is...

Santosh_A_Chavan Updated 

CAMS is in strong up momentum now and it has broken the trendline, it was follwoing since last six months. A goog long postion can be taken in CAMS once it breaks last swing high of 2491. Entry :- 2491 SL:- 2185(last swing low) Target:- 2950 Target should take some time to reach - anywhere between 2-6 months.

Santosh_A_Chavan Updated 

HCLTECH has been trading in the narrow channel range from almost last 6 months. The Channel was a descending channel. HCLTECH Was trying to break the channel from last few days- it was trading very little above the edge of the channel. Today HCLTECH has convincingly broken the channel. Once can LONG HCL with below details:- Entry:- 980-982 (Trade can be taken...

Santosh_A_Chavan Updated 

Havells has formed a nice double bottom.Today it has come out of Double bottom pattern also it has broken the resistance zone- so higher levels are expected going forward. The length of bottom is quite high - and it exceeds the ATH of HAVELLS if projected upwards - so our R:R will be low in this case. Entry - 1348-1350 Target - 1486 SL - 1200 Though R:R is...

Santosh_A_Chavan Updated 

JKCEMENT is forming a Cup and Handle Pattern. After this pattern is formed in few session it will break out of this pattern. JKCEMENT can be longed in future after break out of handle. Entry :- 2765 SL:- 2570 (Little below the handle pattern) Target:- 3400 / 3700 Target of 3400 should be achieved in a few months.

Santosh_A_Chavan Updated 

HNDFDS was trading in the very narrow range of 414-426 for very long (20 sessions). This has recently broke out of this sideways trend and on its way to make a rounding paatern. HNDFDS is a good buy candidate at this price. Entry - 447 SL 415 (this price has been honored from the past month and half) Target - 509

Santosh_A_Chavan Updated 

Gujrat Gas has broken the major resistance zone today also it has come out of Rounding Bottom formation. Its really a great cndidate to go long on. Entry :- 490 (Take it asap trade active.) SL - 459 Target:- 573 R:R :- 2.69 Target should be achieved within 2-3 months.

Santosh_A_Chavan

Trading Decision - Checklist Before placing trade Traders always encounter a thought when analyzing their trade history - I would have been in this much profit if I had avoided this particularly trade/trades(mostly losing trades). There are many reasons behind why traders take up some trades which they should not be taking - reason could be fear of missing out,...

Santosh_A_Chavan Updated 

JUBLFOODS has prepared a nice Inversed head and shoulder pattern. And also it has broken out of that pattern very convincingly. Also 590-596 was a resistance zone which it had crossed successfully. LONG position can be taken in this. Entry:- 605-605 Target:- 790 SL- 509 ( Ideally SL should be a last shoulder of pattern - but right shoulder is not very clear...

Santosh_A_Chavan

Maintaining Trading Journal :- Maintaining Trading Journal is one of the key aspect of becoming a good trader. This is something which I have struggled to do- I always planned to keep a trading journal but after sometime I failed to maintain it or continue it(Mainly due to the losses that I incurred in between which am really not motivated to write...

Santosh_A_Chavan Updated 

PVR has been trading in a descending Channel for last few months. Yesterday It has broken the channel. Can give returns of 20-25 % from here (1-2 months) Entry- Around 1400 SL- 1360 Target- T1 - 1460 ( last swing high) Target T2 - 1580 Please Note:- There is a news of theaters being opened in several cities in India . This will also help this Setup to work.

Santosh_A_Chavan Updated 

Happiest Mind has formed nice cup and handle pattern. It hasnt broken out of the pattern yet - but expected to break in next few sessions. One can enter a LONG trade in stock in HAPPIESTMIND. Entry- 1010 (on closing basis on daily candle) . Entry will be good at this point as 1000 is nice round figure psychological support. SL 967 Target:- 929 Target:- 1221...

Santosh_A_Chavan

Tata Motors was trading in the range of 360- 470 from a long time . Recently the stock broke out of that range 10 sessions bck. After breaking the range this has formed a msall Flag and pole pattern also. TataMotors is really good candidate to go long on, Entry:- 481 (We will only enter the trade when it crosses the recent swing high of 481 on a daily candle on...

Santosh_A_Chavan Updated 

Strategy :- Support/Resistance Broken on 1 Day closing basis. Tata Steel Has broken a major support resistance zone range of . Positional traders can take position in Tata Steel For target of 140. Approximate time for achieving target will be 1-2 months. Entry:- 112 SL- 101/100 Target :- 139

Santosh_A_Chavan Updated 

AVANTIFEED has formed a beautiful flag pattern. Entry- 636 -40 ( break out of flag on upside) SL- 612 - Base of the flag Target - 750-760 - (ENTRY plus length of pole approx ) Please Note- Do not Enter in Trade directly wait for it to close above the flag. This is Breakout trade only based on Chart patterns- am not considering the fundamentals of...