Trading Strategy : Stock has given a breakout of the formation of cup and handle . One should buy the stock near the current level i.e. 930 and keeping a stop loss of 840 , look for the target of 1000/1100in the coming weeks and months.
Stop loss : 840
Tgt 1: 1000
Tgt 2: 1100
The Cup with Handle is a bullish continuation pattern that...
Good evening guys! Here is the analysis Of Bharat forge.
>>It's a neat and clean rectangle pattern breakout in Bharat Forge.
>>As we can see from the weekly time frame, it has been forming a strong resistance and support for the past two years.
>>Today, it has given a breakout because Q1 earnings were released, and the company has performed remarkably well....
Buy Bharat Forge above 1819, Target 826, 845. Reason for trade, stock took support on 50% pullback and reversed, also price took support on 20 EMA. Selling volume decreased and Buying volume increased.
Please note, I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
is looking great for an upmove in coming days , stock has broken out of its previous all time highs and also retested its major demand zone , a double bottom in weekly time frame showing buyers coming in the stock , SL of 10% for targets of 1000/1160 levels in coming days, medium to long term swing🙌🙌🙌🙌🙌
Chart pattern does insist me to go with above titled opinion
1. Bharatforg has been trading inside Expanding triangle and currently it is under its upswing move inside the major expanding triangle.
2. In Weekly timeframe, there is a Bullish Pennant formed and Breakout has happened it seems( volume not so good )
3. Target and SL mentioned...
BO can be seen in the charts of Bharat forge @ 881 for the next target levels of 890 & 900 with SL of 872. Expected to move from the current levels as per price action movement. This is for your educational purpose only.
Head and shoulders pattern is formed in bharatforge and it is ready to breakout within few days.......
it took almost 10 years to form this pattern, so it will give a very strong up move if the trendline is breaked....
you can enter this stock after retracement....or tommorrow with proper stoploss.....
What is trend continuation ?
Trend continuation means when we are in uptrend and witness a healthy correction most likely sideways movement in a channel and it breaks the correction sideways zone with big momentum candles then it might be signaling a strong new up trend starting.
#so lets see how we can play with trend continuation on a...
BHARATFORG:- Stock has done breakout by giving retesting also keep your eye
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful...
Bharat Forge looks like a strong chart in this market. Keep a stop loss at 825 and go long. Bharat Forge is an auto ancillary company and the company has three major products namely, Steel Forgings (97% of the revenues), Finished Machine Crankshafts and Front Axles Assembly and Components.