The momentum and run of Tata Steel was good in the recent days touched good high but somehow the momentum is getting slowed.
And RSI is in overbought zone along with Doji Candle at the top seen price rejection previous candle before Doji
Can be kept under watchlist
VIEW ON KOTAK MAHINDRA BANK
:-THE RANGE IS NARROWING DAY BY DAY
:-CONFIRMING POLE FLAG PATTERN
:-POLE FLAG PATTERN IS A CONTINUATION PATTERN
:-I.E WE EXPECTING A BREAK ON THE UPSIDE
:-DIVERGENCE VISIBLE IN THE CHART
:-WAIT AND WATCH APPROACH
:-TRADE WILL BE TAKEN FOR SHORT-TERM,MOMENTUM AND POSITIONAL AS WELL
:-ONCE LEVELS ARE TAKEN I WILL SHARE THE UPDATE
We have shortlisted some stocks as per the fundamental analysis for the positional trading but we do not enter into any trade with only fundamental.
We use our trading strategy to enter into the trade and the strategy based on price action technical analysis. We always wait for our setup to enter into the trade.
We take the trade only if the particular stock meets...
Price bounced from the support zone on the higher timeframe and we can see clear impulse wave with the two HH and HL structure and also there is a trendline break confirmation, Now we need a clear buy signal to enter into the trade. This is the low-risk high-reward trade so look for the bigger target but take the entry on the lower time frame
Price is making HH, HL after a very good downtrend. We can see a clear uptrend structure from the bottom and also price broke the trendline with the momentum, Its a sign of uptrend continuation, Now we need a clear signal to enter in the trade.
Price broke the support zone with momentum, So wait for a pullback and take a sell trade on confirm signal, Do not take aggresive trade bacuase there is a chance to breakout upper trendline and price can go up with the HH HL formation, In that senario we will look for the buy setup.
Wedge breakout signal with momentum, Most of the time price goes in the direction of the breakout, But do not take a trade on wedge breakout, Always wait for a pullback for a clear sign of continuation