BTC is not in the clear yet until we have confirmation of volume. There is still downward potential with Bitcoin with targets as low as the $3,250 area. Before that would be the downward targets of $5,874, and $5,500. BTC could be making a Descending triangle, the target for this would equate to past support which is around $3,250. So if we continue bearish...
Relcapital Sell Below 221.60
Stop-loss 234
Target 168.40
Risk 5.57% & Reward 24%
RR Ratio 1: 4.30
Another Probability is, it can be turned out into triple bottoms as well but looking at the prolonged decline I personally prefer to sell descending triangle breakout rather buying triple bottoms.
Continuation Pattern
Descending Triangles
In this “flat-bottom”...
Break out of this Triangle will take us to 4050 Region.
Breakdown of this triangle will take us to 3300 zone.
Reason to be Bullish: Strong Support at 3500 zone. Any dip Below 3600 is been bought Quickly with a bounce.
Reason to Be Bearish: Triangles in Downtrends usually Break down.
BEML Chart shows 2 red candles back to back after a month of upward movement from 520 to 780.
Strong Resistance at 780 area. If broken, Next target is 850.
Stoch RSI Shows overbought Conditions on daily. Price went up but Stoch rsi went down. Which in most cases is Bearish.
If BEML Breaks down as a correction, Support zones are 730,700,675 and 625.
Yes Bank
CMP 193.
Observations
- the stock has fallen more than 50% from the highs of 400 levels seen in Aug 2018
- in its attempts to pullback the stock is making lower tops on daily charts
Strategy
One may consider selling Yes Bank 200 Call option
Lot size 1750
CMP 6.6
At best, The strategy provides max 13.2% profit potential on margin amount of approx RS...
Motherson Sumi
CMP 153
Currently the stock is trading in a channel.
- On the upside 158-163 may act as potential resistance zone
- Below 146 stock chart may indicate further weakness
One may look to sell the stock either on rise towards 160 or once it breaks below 146 for target of 133 / 122
Take care & safe trading...!!!
Titan Chart shows Bearish Divergence on RSI, Stoch RSI and Momentum too.
A pull Back is possible but overall Stock looks bullish for longer term.
Bearish Divergence + Price approaching Resistance may bring the Price Down.
If setup fails and breaks 910, Wait and buy the retest of 900 areas in next couple of days.
Infy
Cmp 759
Observations
- The stock has been in the uptrend again since Sept 2017
-interestingly we see the stock facing resistance again at blue trend line in Sept 2018
- on the upside 680 - 702 might act as potential resistance zone
- a weekly close below 631 might signal crack in the trend and open up doors for potential fall up to 555 [/b
...
HDFC ltd Bearish engulfing pattern looking weak from current level
Expecting more downfall from current levels more downfall expected
anext support levels 1600 1550 1500
