AbhishekHSinghCMT
Long

MRF- A=C & Bullish Engulfing Candle

MRF (NSE:MRF)  
NSE:MRF   MRF
281 7 10
From the highs@46471 - If one measures the distance of (A)-wave & project it from (B) -wave top it measures same distance(approx) or equality at 45700's zone which is C-wave            

Here exactly at the bottom of C-Wave             -we had bullish engulfing candle

Bullish Engulfing Candle
Green candle engulfs prior candle from open to close (which is the cylindrical body) -wicks or upper shadow & lower shadow can be neglected- criteria for bullish engulfing candle.

Trading Strategy
Risky one could be at current levels with strict stops below 45650 lows.

Safe Strategy could be once swing high@46280 is crossed -in that case likely we should have a target equal to at least prior high@46471 & more- stops should be same as above.

Regards,
Abhishek             H. Singh, CMT
Trade active: 09:25 Hrs 26th Sep2016

Trading at 46200

MRF -who is buying - seems to move like a rocket.
Trade active: 09:31 Hrs 26th Sep2016

Trading at 45900

The opening was amazing as MRF had a rocket move from 45750's to 46300 zone.

Its Countrend Move or Correction Likely It is showing sign of moving up above 46471.
Trade active: 09:35 Hrs 26th Sep2016

Even though it is bullish - Currently there is correction going on & one should look to buy above 46350 -which is current high for bigger targets else -we will expect some down move possibly below 45650 so likley it will take stops & bounce back - 45650 isn't a proper stop now in current position as one leg has already moved up from 45700 to 46300 zones & failed to sustain above 46300 zone.

Yes, we are looking upside but careful with the stops@45650. As Bigger guys will like to eat your stops & then rally upside.
Trade active: 12:05 Hrs 26th Sep2016

Trading at 45800

MRF - Bounced from same low@45651 -same as prior
Trade active: 13:10 Hrs 26th Sep2016

Current Session low-45512 Trading@45601

As said earlier that it could go below 45650 -it did -Having said that -I also have said that its a correction & MRF will show its muscle in coming days or may be today itself -good for risky traders & safe traders should look to buy above 46350 as per above update.
Trade active: 13:40 Hrs 26th Sep2016

The fall from 46350 to the current zones of 45500-45600 (which also -I updated that it will likely come down & even take 45650 stops also) is likely not that aggressive, so that it is suggesting that the MRF will show its power to everyone in coming session & could rock on upside- by that I mean first it will touch 46350 & beyond that it will fire so likely I will be interested in buying at dips.
Trade active: 10:45 Hrs 27th Sep2016

MRF once again travels to 46300 High from lows 45500-45600 so one can just judge that how important 46300-46350 zone is.
Trade active: 11:39 Hrs 27th Sep2016

Trading at 46725

MRF- Tyres with Muscle ----Up -Up & Away - Boom as expected - Awesome
Trade active: 11:53 Hrs 27th Sep2016

Likely we will book 70-80% here or one can take complete profit at current levels of 46700
Comment: 13:29 Hrs 28th Sep2016

Trading at 48169

MRF - Someone will stop them.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Sir what is A=C Here? Will you please explain? Thanks.
#JustforLearningPurpose
Reply
A -wave which I have shown equals C-wave & there is a bullish engulfing candle.
+1 Reply
Excellent research.
Reply
Thanks. Hope so it was fruitful for most of us. Regards
Reply
STOPLOSS TRIGER
Reply
I said 45650 will be taken by bigger guys so be careful
Reply
I guess your stop comes at wrong time -In fact zone of 45500-45600 is something to be looked upon.
Reply
India
United States
United Kingdom
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out