ASIAN PAINTS TWO TRIANGLES CHART
The stock first started trading in a symmetrical shape and broke up on the upside.
Beginning range was used as a measure of a target range and was successfully achieved.
Now the next triangle is also in symmetric shape but a little broader one which means that the target range will increase.
Remember that the chart pattern is valid only if there is a pullback.
Pullback are a great indication for the short-term trader s for exit.
Usually the target is {Range*5.5%}.Then we continue in the downside.
Why i am optimistic about the downtrend is(confident) because if you watch closely the 20 day moving average first crossed the 50 day moving average and now has crossed the 100 day moving average on the downside.
This was our first prediction or interpretation that the break is most likely be on the downside.
Now on Friday the 50-day moving average crossed below the 100 day moving average and the price has just crossed below the 200 day moving average.
Even RSI range is broken.
MACD indicator is now showing negative signs.
The day the price broke the range the average volume was 5,96,000 and the day volume was above 10.00.000 (1 MILLION).
This shows that the "SUPPLY>DEMAND"
TRADE ACTION:-
Please trade with caution my mind is trained in such a way that i am not afraid of booking losses and though weigh 100 kgs my hunger for money is full when i reach my goal or objective.......
SHORT TERM VIEW
SHORT @1127 OR BELOW
STOP @1150
TARGET @1095
LONG TERM POSITIONAL
SHORT @ 1127
STOP @1160
TARGET 1 @1085
TARGET 2 1065
!!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH out for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
SOON GOING TO START MORNING TRADES@9:20
MANAV KHANDELWAL
TEHCNICAL ANALYST,
STOCK MARKET TRADER AND BROKER,
CMT-2
CFA -1
B.COM (FINANCIAL MARKETS)
Beginning range was used as a measure of a target range and was successfully achieved.
Now the next triangle is also in symmetric shape but a little broader one which means that the target range will increase.
Remember that the chart pattern is valid only if there is a pullback.
Pullback are a great indication for the short-term trader s for exit.
Usually the target is {Range*5.5%}.Then we continue in the downside.
Why i am optimistic about the downtrend is(confident) because if you watch closely the 20 day moving average first crossed the 50 day moving average and now has crossed the 100 day moving average on the downside.
This was our first prediction or interpretation that the break is most likely be on the downside.
Now on Friday the 50-day moving average crossed below the 100 day moving average and the price has just crossed below the 200 day moving average.
Even RSI range is broken.
MACD indicator is now showing negative signs.
The day the price broke the range the average volume was 5,96,000 and the day volume was above 10.00.000 (1 MILLION).
This shows that the "SUPPLY>DEMAND"
TRADE ACTION:-
Please trade with caution my mind is trained in such a way that i am not afraid of booking losses and though weigh 100 kgs my hunger for money is full when i reach my goal or objective.......
SHORT TERM VIEW
SHORT @1127 OR BELOW
STOP @1150
TARGET @1095
LONG TERM POSITIONAL
SHORT @ 1127
STOP @1160
TARGET 1 @1085
TARGET 2 1065
!!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH out for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
SOON GOING TO START MORNING TRADES@9:20
MANAV KHANDELWAL
TEHCNICAL ANALYST,
STOCK MARKET TRADER AND BROKER,
CMT-2
CFA -1
B.COM (FINANCIAL MARKETS)
Trade active:
GOOD DAY
TRADERSMOJO TELEGRAM CHANNEL
*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH out for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
stock recommendation for btst as on 08/12
COLGATE BTST BUY @1070 STOP @1060 TARGET@1080-1090 target achieved
TECHMIN STBT SHORT @497 STOP @503.50 TARGET @491-487 stop loss hit
GODREJ IND BTST BUY @590 STOP @580 TARGET @603-606 target hit
DR REDDY BTST BUY @2180 STOP @2170 TARGET @2200-2220 target hit
INDIABULLS BTST BUY @1206 STOP @1195 TARGET @1220 stop loss hit
MAHANAGAR GAS TRADE ACTIVE(7/12)
FOR BUSINESS PURPOSE CONTACT
manavtechresereach@gmail.com