1. On request of one of my followers who is very curious to know price action of bharat forge. This is dedicated to you and all those traders and investors who are trading in this stock or wanted to trade and invest . 2. See bharat froge has made its bottom now no more low . This stock has not started its accumulation process actually in first phase . This is trading at white end of resistance zone which is quite strong . A red channel upper resistance is also providing feel of change in trend from up to down . 3, It can trap more traders by going to upper red dotted line. This will be purely trap move. Otherwise current market price is right place to go down. If it moves down only then accumulation process will start . If upper red channel band and red dotted line is not taken out then see fall to green zone. 4. When accumulation process will confirm you will see move both sides keeping price range bound. If green zone and lower end of red channel is taken out then you can see fall to red lower zone.That should be the right zone for investors to accumulate like smart money will do. 5. Keeping stop loss of zones either side will be very help full to initiate trades with following my all conditions .I every time say I make complete sketch of price move in coming days you just have to time your trade with the help of zones . Believe me my zones, support and Resistance work magically. All post are available on record for your consideration. So invest some time to read them along with comment box questions and replies that are themselves quite educational. Everything I can not write in blog. Many intelligent and informative questions are asked in comment box quite useful for genuine seekers. Rest price will decide.
Note. All trading and investing should be done with the financial consultant approval only. YOGESH VATS
@yvatsji sir need updated view on this stock considering this is also one of defence manufacturing firm in this war like situation
BVMPSNB
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yes It is short...
sumeetag00
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considering the new licence the company has got for making NASA coronavirus ventilators, can we expect something major for the company as it is 1 of 3 companies in India to get so and other 2 are pvt ones
SaiNarayanaB
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@sumeetag00, the view shared here by the learned Yogesh is technicals based. And what you are asking is fundamental or news based.
sumeetag00
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@SaiNarayanaB, Yes sir, I agree about technicals and sir has given details about possible scenarios. But is it possible to incorporate the impact of such a major move in technicals. Similar scenario may arise as we may see a breakout when any pharma company gets covid vaccine.
unsethi
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All of this would happen on 1st June or it will start on 1st and will take a few days? Is it a positional trade?
yvatsji
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@unsethi, stock analysis is different from index daily trading. One can trade positional and intraday depending which trade you select with lower time frame for intraday. It is more sutaiable for positional trades.