Andrew's Pitchfork

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praveen.bhatiya praveen.bhatiya ACC, 15, Short ,
ACC: SHORT: Multiple Resistance Zone
59 0 3
ACC, 15 Short
SHORT: Multiple Resistance Zone

Action Reaction is beautifully aligned with the down sloping Trend line. RSI is in overbought showing divergence. Set up seems to be ready for a short and let's hope for a good trade.

techtrail techtrail PVR, D, Long ,
PVR: PVR Limited: Constructive Price Action At Support
81 0 4
PVR, D Long
PVR Limited: Constructive Price Action At Support

The stock has been in a corrective mode off-late. Lot of interesting developments in the chart in the past few days. Price has bounced off the prior breakout zone. The correction has also been arrested at the medianline of the downsloping fork. Price action today is promising. A close today near the days high backed by volume spike will be a a welcome bullish ...

techtrail techtrail TATAPOWER, D, Long ,
TATAPOWER: Tata Power: Nice Short-term Opportunity
80 0 3
TATAPOWER, D Long
Tata Power: Nice Short-term Opportunity

There are times when one should tweak their trade expectations and look for trades that will last for a shorter duration. Tata Power has been in an uptrend for a while and after a nice correction, price has formed a strong green WRB yesterday. If the uptrend resumes, the next resistance / target would be the medianline of the magenta fork, followed by the upper ...

techtrail techtrail DELTACORP, D, Long ,
DELTACORP: Delta Corp: Ptichfork Point to Higher prices
88 4 1
DELTACORP, D Long
Delta Corp: Ptichfork Point to Higher prices

Couple of pitchforks are displayed in the chart. Both of them seem in sync with price, the magenta one being more appropriate. Am looking to buy this one for short term spike to recent highs. AS always do your homework, assess the risk and position-size accordingly.

praveen.bhatiya praveen.bhatiya TATAGLOBAL, D, Short ,
TATAGLOBAL: TATAGLOBAL SHORT :Hanging Man at crucial Zone
101 0 5
TATAGLOBAL, D Short
TATAGLOBAL SHORT :Hanging Man at crucial Zone

Andrews Pitchfork's is capturing very well the price action so far and working as Resistance. It has closed out of it but formed a hanging man showing possible weakness, so one can short the stock if it starts trading below the upper Median Line around 143.50 for a target of 135 by providing stop loss of 147.60.

praveen.bhatiya praveen.bhatiya GODREJIND, D, Short ,
GODREJIND: Short Godrej Industries Pitchfork
90 0 5
GODREJIND, D Short
Short Godrej Industries Pitchfork

Andrew's Pitchfork seems to capturing the price movement well so we can frame a short trade on its basis now. One can short the stock now or wherever the Stop Loss of 525 is affordable to them. We can expect the target of 465 easily. It may also touch the Demand Zone *Price Range 418 - 435* so the trade may be continued with trailing stop loss.

praveen.bhatiya praveen.bhatiya BIOCON, D, Short ,
BIOCON: Biocon Potential short Action/Reaction
85 2 5
BIOCON, D Short
Biocon Potential short Action/Reaction

Andrews Action/Reaction method has suggested a short and it made Big Red candle showing the selling pressure at that level. It has also broken the short term trend line telling the weakness at least in short term. Prices are retesting the Supply Zone and trend line from below, so one can put the stock into their radar and short the stock on seeing the weakness.

praveen.bhatiya praveen.bhatiya MRF, D, Long ,
MRF: MRF BUY MPL/Action-Reaction
129 1 8
MRF, D Long
MRF BUY MPL/Action-Reaction

MRF stock after a strong vertical bull run paused and it looks like ready to resume the journey again. One can go long now or on dips wherever one is comfortable with the stop loss of 49600 for target of price range 55650 - 57500. It offers good risk to reward ratio.

praveen.bhatiya praveen.bhatiya TATASTEEL, 60, Short ,
TATASTEEL: TataSteel Short MPL
120 4 7
TATASTEEL, 60 Short
TataSteel Short MPL

One can short the stock at this level for a target of 456 Stop Loss 477. Good Risk to Reward ratio of above 3. Good Luck

praveen.bhatiya praveen.bhatiya KOHINOOR, D, Long ,
KOHINOOR: Buy Kohinoor Foods Action/Reaction Technique of Andrews
108 0 7
KOHINOOR, D Long
Buy Kohinoor Foods Action/Reaction Technique of Andrews

The stock is forming a good setup as taught by ALAN H. ANDREWS : Multi pivot line passing thru gap. One can buy the stock at current level or when it trades above 95.50. Stop Loss 87 target 115 which in this kind of setup mostly reaches fast.

praveen.bhatiya praveen.bhatiya NIFTY, D,
NIFTY: Nifty View as Dr Andrews Action/Reaction
168 2 3
NIFTY, D
Nifty View as Dr Andrews Action/Reaction

Nifty has reached at interesting level as per Action/Reaction method taught by Andrews. A price reaction is expected at this level. Although the market seems to be in strong bull grip but I would be very cautious in taking fresh long trade now and start looking for shorting opportunities. RSI is also in extreme overbought zone confirming the view. Friend can watch ...

bbrijesh bbrijesh BANKNIFTY, D, Short ,
BANKNIFTY: Bank Nifty @ Do-or-Die Level
403 4 12
BANKNIFTY, D Short
Bank Nifty @ Do-or-Die Level

* Do-or-Die level is 18,100 (Green line) * Bearish Candlestick @ 23.6% Fib retracement * Andrew's Pitchfork Bears can go short on break below 18,100

bbrijesh bbrijesh MARUTI, D, Long ,
MARUTI: Maruti - Bulls Swift
354 4 7
MARUTI, D Long
Maruti - Bulls Swift

The breakout of ~4,750 has been retested turning into demand zone. The Pitchfork suggests support ~4,650. The view negates on a close below 4,500.

bbrijesh bbrijesh SRTRANSFIN, D, Long ,
SRTRANSFIN: Shriram Transport Fin - Bulls Eye
260 0 4
SRTRANSFIN, D Long
Shriram Transport Fin - Bulls Eye

* Bullish Deep Crab (Black) * At Pitchfork support * Support at 3/1 Gann Fan * RSI bouncing from OS level

techtrail techtrail NIFTY, 45,
NIFTY: Nifty: Which Of the Two Forks is Valid?
153 6 5
NIFTY, 45
Nifty: Which Of the Two Forks is Valid?

Your guess is as good as mine wrt above question. If price breaks the lower parallel of magenta fork, it would be a failure and hagopian rule will be in play.

techtrail techtrail HINDALCO, D, Short ,
HINDALCO: Hindalco: Will It Clear Upper Parallel?
126 0 3
HINDALCO, D Short
Hindalco: Will It Clear Upper Parallel?

After being rejected at the blue upsloping medianline, the red fork now seems to be in play.

techtrail techtrail NIFTY, W,
NIFTY: Nifty: What-If Fork
111 0 6
NIFTY, W
Nifty: What-If Fork

Am having this downsloping fork as a What-if candidate. This gives me a better perspective and a balanced view. Check annotations in the chart

techtrail techtrail NIFTY, W,
NIFTY: Nifty: Price Hits Medianline
52 0 4
NIFTY, W
Nifty: Price Hits Medianline

Price has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday. The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to ...

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