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Bearish 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
What the H&S!? What are the chances, OXT? 4HA head and shoulders possibly in production. Once OXT attempts 0.75-0.80 range, will a re-visit to the 0.25-0.30 range be in June? Looks to be a nice bearish BAT pattern that started forming around April 17 which may take us back to the 0.70s between May 5-8 before we begin to make a descent back down. What are your thoughts? This information is not financial advice but it is our opinion. It is advised to do your own research and due diligence. Happy trading!
COINBASE:OXTUSD
by TheWaveRider