NSE:RELIANCE #RELIANCE SHORT 1688 TO 1690 SL 1707 TARGET 1669 / 1657 CHART BY HarmonicTrading™
As we saw yesterday Reliance took a dip to 1564 region which was Target 1 and bounced exactly form support to break the previous ATH of 1620 and made a new high of 1626.70, which brings back reliance in a bullish trend. As on 16/06/2020 if reliance opens in positive and holds up to previous days gains, Buy Reliance above 1627 with SL of 1623 with a long term...
Bitcoin has closed below the rising trend line, saw a retest of 0.382 fib level and we have a bearish engulfing on the 0.382 fib level. We have a decent sell opportunity here. You can see the entry price, SL and TP in the chart. Main hurdle here would be sub 9200 level, and we might see a solid bounce back from there. Need a strong close below that level to...
Asianpaints on 1 hour time frame is trading between 2 important zones as shown in the chart. A break of the lower side of ZONE2 at 1577 could push the price further down following a Bearish ABCD pattern. Furthermore, Fibonacci levels plotted over the last bearish swing shows retracement levels of 61.8% and 50% in ZONE1, signalling a possible reversal from those...
crude oil mcx looks bearish unless it breaks the resistence of 2800 below 2600 we can short for the tgt of 2400 - 2250 the points and levels are for educational purpse only trade at your own risk pls like the page and share the chart
Latest daily time frame candle showing a small body and small range hinting at a pullback. The downtrend followed in the past few days may continue below the the previous low. Short below 2703 TGT 1: 2664 TGT 2: 2615 NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
After breaking through 10100 and 9950 supports, Nifty seems to be in a strong bearish trend. Moving Average crossover on the chart in 1 hour time frame also confirms the same. Nifty has a minor swing low at 9800 after which the next strong support lies at 9600. 9600 levels are also at a 50% Fibonacci retracement of the last bullish leg.
I hope you can now see how the NIFTY represents an excellent BEARISH Gartley low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour. same pattern with Dax Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis...
WELENT has been rising the past week on account of its dividend issuance. The Ex-Dividend day is on 11-06-2020 i.e Thursday. Prices usually tend to correct themselves on this day. Look to SHORT below 69.6 which is just below a resistance zone. TGT1: 68.65 TGT2: 67.65 NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
Case I > Opens/goes below 20550, retests it : Bearish Target 1) 20350 Target 2) 20000-19850 Case II > Takes support at 20550 : Bullish Target 1) 20850 - 21100
Case I > Open below 10000 and Retest Target 1) 9925 Target 2) 9800 Case II > Opens above 10000 Target 1) 10150
Why to watchout this stock for short selling: Tick 1 : Bearish pattern formation. Tick 2 : Stock consolidating on 200 DMA which is acting as a strong resistance. When to take a position: Breakout of the wedge is the right point to enter with a stoploss of 50% of the range in which stock is moving. ** Manage your risk and trade with proper analysis..
HCL closed at strong resistance. Looking at PCR of 0.7, there is high chance that it may go down from this point. Weak for intraday, otherwise I am bullish on stock from fundaments - P/E is less than industry average and overall NIFTY IT is doing good. Let's see how it goes tomorrow. I will short.
As we can see there was a big spike to the upside at a previous resistance level which was meant to take out retail stop losses and collect all the orders to push the price down, another confluence is the price was at 1.13850 which is a psychological level. You can wait for a retest into that zone or take an aggressive entry right at the candle close. This could...
Target 1) 1750 Target 2) 1730 Target 3) 1715
Range bound
If it tests and rejects 10100, may move towards 1000 and 9925 as per Fibonacci