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Bat

Reliance - Bearish BatReliance has shown a bearish bat pattern. However, the last leg of the pattern was super strong, so no trading as of now. People holding in cash may hedge with a put option. Shorting call options can be risky when the stock has such a momentum! This material is just to introduce the Bat Pattern. As per Scott Carney - A Valid bat pattern has the following characteristics - B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or 38.2% retracement. (47.2% in this case) BC projection must be at least 1.618. (2.0 in this case) AB=CD pattern is usually extended. (1.618 AB = CD in this case) 0.886 XA retracement. (0.887 in this case) C point with range between 0.382 and 0.886. (0.825 in this case) Minimum target is 2080 Second target is 2050 Stop loss is 2231 The reward:risk is not favorable in this trade. Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
NSE:RELIANCE
by Market-Thalaivaa
1
Nifty - Corrective Wave + Bearish Bat (Selling Below 15045)Reasons for sell • Falling Trendline can act as resistance connecting 15336 & 15045 Highs • Corrective wave close to end its structure which started from 14416 lows • Bearish Bat Harmonic structure PRZ below 15045 More confirmation for selling to be confirmed • Once Index takes out 14890-14900 zone • Slips below gap up zone 14828-14892 zone Target Downside • 14765 (Target 1) • 14725 (Target 2) • 14605 (Target 3) • 14415 (Target 4) • 14350 (Final Target) Stops or Invalidation Level***************** • Rally upside above 15045 -------------------------------------------------------------------------------------------------------------------------- Last Idea Published
NSE:NIFTYShort
by WaveTalks
50
INVERTED HEAD & SHOULDER IN MOILBUY 157 TO 155 TARGET 215 TO 286 Reason For Buying This Script : In this script it has formed inverted head & shoulder pattern in monthly , Now it has completed the pattern and waiting for neck line break out conformation . Once it close above 170 in monthly candle and the next target up to 215 to 289. wait up to May month closing . If it close above 170 good buy. Note : Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target. ALL THE BEST ..
NSE:MOILLong
by dayanithi555
2