Bat
Larsen & Toubro (LT) - Good candidate for short sell
Monthly trend is bullish so we are considering it as a correction.
Formed the BAT pattern in weekly chart.
If we see sell off here before tagging the last high which is 1384, then it can visit the area between 1120 to 1000.
Stoploss could be placed at 1384.
This view is only for the education purpose, Please connect to your financial adviser before taking any entry.
LARSEN good short candidateLarsen spot cmp 1280
Bearish bat pattern formation.
PRZ zone in range 1280 to 1320
SLZ zone above 1350 levels
Elliot wave study.
Impulse wave is above to mature around 1300 levels,, if corrective wave unfold around these levels can see retracement in price..
Good short candidate
Cipla | Bearish Harmonic pattern =====================================================
⭕ Day Trading opportunity ! 15 min Chart Alert !!! ⭕
--sell below 789.45= or CMP
--Target = 775
--Stop-loss = 794
--Lot Size = 1300
--R:R = 2.81
--Expected Profit = 16,900 ₹ per lot (1.74 % )
--Expected Holding = 1 day only
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⭕ Technical Reasons to trade OR Strategy applied :- ⭕
1) bearish harmonic pattern
2) rejection at top
3) Trade is confirmed with big bearish candle
4) we just need breakdown of support
5) cipla gap is expected to fill soon
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PVR Short (1893.50 - 1908.20 - 1929.20)PVR
Sell
E: 1893.50 - 1929.20
S: 2086.65
T: 1720.55 - 1591.45 & more
Perfect illustartion of Bat Pattern.The Bat Pattern, is a precise harmonic pattern™ discovered by Scott Carney in 2001
The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg . The Bat utilizes a minimum 1.618BC projection.
In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
ONGC - Did You Pick Stock close to 60's?Last-89.85
Last closed near to 90-which is short term hurdle & crossing above 90's it can push to 115/125 Target zone which will be next resistance
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Last Idea - Suggested on 6th June2020
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