In continuation of our previous views - the demand zone has been broken and retested today via the gap up and upmove (that was hrly TF). On the lower TF (30 mins) a bear flag seems to have formed. Any move below 8730 and sustaining for at least one/two candles can be bad for Nifty. Very bad infact. Longs keep your stops strict, shorts abv 8760. Again, its very...
* Bearish Flag * Triangle breakdown
As we see - RSI has already broken down, so looking short on the shorter TF too. TL touch should be there, if broken, 8770-60 on the NF offers good support as it has been umpteen times but but but ... a support tested multiple times gets weakened. IF that is broken, then we review, till then T1 he Trendline and then maybe 8770NF.
IT stocks are already on deep crisis, there is no takers for them, with GST n other euphoria people are going for FMCG,Infra, Auto, banks, so here comes Wipro which is in Bearish trend for quite a while. The reasons are : (i) Channel Breakout happened already (ii) Potential Double Bottom around 472, so note that (iii) Bearish Trend - Bearish Breakout, Good for...
CESC is giving a short setup. The stock has been moving in an upward trend channel which is about to be broken down.. Expect a substantial correction or sideways movement in the stock before moving higher. Happy Trading
one can start adding long with sl support are 8750-8700-8540 must close above 8770 for upmove
It is been observed that the price action covering up the previous gap down and now looking weak at previous support which is now acting as resistance. It is good to short it now with stoploss at 8900
trend line support Nifty continue to hold gann trendline
The price action just filled the previous gap down space and now indicating weakness due to long upper wick. The last candlestick that had long upper wick also known as Gravestone Doji, a trend reversal pattern, that suggests rejection of higher prices. It is wise to short at current levels with stoploss. Target 1: 309 Target 2: 301 Stoploss: 332
GodrejInd is giving a Short Setup.. Stock gave a 5 wave decline from 542 to levels to 387 levels in Wave A and has since retraced backed to 78.6% fib. One can go short on the stock at current levels with stoploss just above 453 and Targets of around 380 and 350 wave Wave C. Details are on the chart. Happy Trading!!
Sometime cypher gives inverse Risk:reward but worth it Though we get few points in patterns, their success ratio are higher than most moving avg based techniques Check your cypher ratio's n enter the trade Prev.post ( Let's Ride the waves ) - still valid I will be out today, so there won't be more post for the day, Sorry Guys ! Happy Trading !
With this rectangular range trade setup, its 8th rectangular range in last 10 days if I check my trading journal. Either Fx or Nifty 50 markets are offering us lots of ranging n breakout pattern trades for past two weeks. Yes, few of them failed but winners overshot losers,just like that. I'm looking out for this rectangular breakout in Infy and will be watching...
Wave 4 is well within 50% Fibs of wave 3 but a gap up open may spoil the plan, but if we get proper open in our zone and valid confirmation, we can enter short positions towards 490's. Tatamotors chart almost looks similar to our Nifty. Happy Trading !
We had very good move after the ascending triangle breakout, booked some great profits out of it and now BHEL is retesting the resistance, so I'm planning to go short if we get bearish confirmation, I'm not sure what will happen on Monday, if we get Gap Up in BHEL bcos of Nifty better we can re-think this entry strategy. If it opens in one and once bearish...
Usually I won't post trades with Entry,stops & targets but here posted it bcos its risky and counter trade, so everyone should know how I take on risky setups and my rewards ! Actually I want you to realize my risk rather than concentrating on my rewards and why I enter trade in the marked zone. Nifty may trigger my entry and raise straightup to stops or won't...
Hi Guys, We have simple bearish trend continuation setup and TECHM is facing some good resistance around 500 levels, as per my trade plan its good to go short from here with targets around 480's. Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!