PNB - Wake up or V-Cup with PNB@148-149You want to Wake up or take the V- cup - your choice. It has retraced 50% of the rise from 132 to 164 at closing price for the day @148-149.
The zone of interest 148-149 was shown in previous post which was travelled today on account of dalal street bleeding for the day & PNB cracked below 157 updated early morning@08:11 Hrs - 3rd Aug2017. Travelling again & again in the zone 157-158 (We need to pack our bags) - after an idea was published as shown below - we changed as markets wanted us to do so ( after all trend is your friend)
What Next ?
As I always say - never hurry in the markets ( There is a saying very commonly used by all of us - "He whose mouth has been burnt by hot milk even blows on buttermilk when drinking it!" )
So, wait let market show interest then we take interest. we shall look for a cautious bounce if markets support the initial move holding above 145-146 Zone.
Once you have taken the V-( Victory) cup - It will boost you for solid performance next.
Note- Try the V-cup on your own risk.
Fire with Cypher@157 - I turned upside did you -- I dumped as well in time, did you ? - react with a sonic speed if you want to survive in markets.
Bat was sitting in the cup - It is scary!
Triangle be the mother of shark - 159 to 149-146 (Took a longer path but the destination was reached)
Bearish Bat
Where we are with Banks ?!Technical Aspects :
YesBank - Bearish Bat
AxisBank - Channel Breakout ( will fail & range again, just My opinion )
SBI - Bearish Cypher
So as of now our technical aspects point downside...
Fundamental :
Not literally fundamental view, based on macro news,
YesBank - Lesser NPA than Axis & better next to HDFC
AxisBank - High NPA among privates
SBI - Banks consolidation will do it down & NPA none cares, bcos its public(our) Money, so they don't mind about getting it back. :)
This is not for trading, just an overall view...
Potential Bearish BAT (SWING SHORT SETUP)Hi,
A Potential bearish harmonic bat near completion on 15 min chart in confluence of trend line resistance.
Note : MACD 4C giving bearish divergence.
Trade levels as follows.
Entry (Price Reversal Zone) : 354
TP1 : 337.4 (38.2%)
TP1 : 330 (61.8%)
Stop loss : 359.5 or higher
Always watch price action before making entry ( for a better risk/reward ratio)
Trade with care
Gulz.
Potential Bearish BAT with RSI Divergance , UPL 60 MinsHi,
A Bearish BAT completed on U.P.L LTD hourly chart.
Price is moving upside through a rising trend line ( both daily & hourly RSI showing strong divergence with current trend).
Let price break the trend line to make entry -
Trade with care.
Gulz
Nifty : ABCD..ABCD..More of ABCD !Yep, ABCD's everywhere you go, repetitively thats why Kindergarten Admission confirmed & on lighter note some people maturity level is also upto KG levels only, trying to nag others & to pick up fight. Well, I'm supercool now, than ever :)
Expecting Bat formation on hourly, keeping in view of our 9k fill, this needs to fail, probably a small short covering can happen around ABCD completion zone in Nifty 9070's zone. But if Nifty gets in Bear mood today,it will turn ruthless & filling all the gaps to the down. Just My intuition that its not in mood today, Nifty will get ruthless on its own time & preferences.
So mostly, that retracement pullback will happen then a downside move to complete the bat pattern. Go down on time frames to find potential trade chances. You know friends, Most of time I won't give stops & targets, Learning on own is best tutor ever.
Buddy's, if you have counter views feel free to drop a line below, I would love to have healthy discussions, bcos knowledge sharing is best thing happened to human race.
For that one dear buddy who made futile attempt to nag with kindergarten sarcasm, Don't be so afraid of Me to oppose My views right in My post, I wud love to see you, Rightnow is the time bcos I'm supercool than ever :)
POTENTIAL BEARISH BAT (SHORT SETUP) ON JET AIRWAYS, DAILY CHARTOn JET Airways daily chart, we have a potential Short opportunity at the D leg completion of bearish BAT setup .
The price reversal zone is between 534 & 562
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 459
Target 2 - 413
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%. )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2.
Trade with Care
Gulz.
BEARISH BAT SHORT SETUP ON DLF HOURLY CHARTOn DLF Hourly chart , we have a potential Short opportunity at the D leg completion of bearish BAT setup . The price reversal zone is between 153.5 & 155.5
Note : The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 148.2
Target 2 - 144.6
Target 3- 140.5
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80% . )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to break-even once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2 & so.
Note : Pattern will be triggered only if price reaches the PRZ, if price do not comes the zone means the pattern invalidated and setup will be discarded & we will look for other opportunities.
It is always important to have favorable risk/reward ratio for any trade.
Trade with Care
Gulz.
POTENTIAL BEARISH BAT SHORT SETUPOn Lupin 15min chart we have a potential Short opportunity at the D leg completion of bearish BAT.
The price reversal zone is between 1509.9 & 1520
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the BAT setup placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure support .
Target 1 - 1482
Target 2 - 1457
BEARISH BAT SETUP ON ADANI POWERHi,
A good short setup is developing on Adani Ports daily charts.
Watch PRZ (Potential reversal zone) & enter based on the price action- Use shorter time frame candles to analyse the price action while the price hitting the PRZ.
Two Targets : TGT 1 - 36.5 & TGT 2: 30
Stop loss would be above X point ( based on the risk appetite)
** Never ever do long trade on anticipation of CD leg completion. **
I will be updating the trade on shorter time frame - stay tuned for timely entry.
Trade with Care.
Bearish Bat formation on Maruti - ShortBearish Bat formation on Maruti on EOD and bearish sign for short term.
Note : Please wait until the pattern get filled.
Trade:
Short below - 5785
Target 1 - 5650
Target 2 - 5560
Target 3 - 5465
Stop Loss - 5890
Reward Points - 320
Risk Points - 105
"Happy Trading"
HDFC - Bearish Bat Pattern SetupIt is been observed that the price action forming a Bearish Bat Pattern on hourly chart along with Bearish Pin-Bar pattern, indicating short weakness ahead.
Target: 1400
Target: 1382
Stoploss: 1440
Tata Steel - Bearish Bat Pattern It is been observed that the price action formed an important harmonic pattern called Bat Pattern indicating bearishness and a counter trend trade opportunity. It is a low risk trade as the price action has already reached to the previous resistance levels at 406. Now if the price action breaks and close above the previous resistance levels of 406 then we shall continue to rally up but incase we see some selling pressure at resistance then the price action shall retrace back to 38.2% Fibonacci levels at 388 levels.
Target: 388
Stoploss: 410
Risk Reward: 1:4