It has been observed that the price action facing a strong selling pressure at the resistance zone of 730-740 levels, which is indicating further weakness ahead. It has also observed that the price action also forming a range for past few months, which may likely to continue here on.
Bharat Forge has given Buy Breakout on Daily and Weekly already. Now we have Kumo Breakout. Buy CMP 537 Keep CBSL 400 and hold with patience. We might see huge turnaround on this stock. Immediate resistance 605, Sustain few weeks above this.. Expect 800+
STOCK ALREADY HAD BROKEN IMPORTANT SUPPORT LEVELS @ 540 AND CLOSED BELOW THAT LEVELS. IF ANY BOUNCE BACK WILL COME SELL THAT STOCK @ 520 & 540. KEEP S.L - BOTH LOT 580. WHEN YOU TRADE IN FUTURE YOU CAN HEDGE YOUR POSITION WITH OPTION.ITS BEST WAY FOR PROTECT YOUR CAPITAL. SO YOU WILL BUY 520 CE & 540 CE WHEN EXECUTE ABOVE TRADE.
NOTE : BEFORE TAKE THIS TRADE...
Based on my xMRSI-Progresser predictive trading methodologies, its going to be a RED candle on 05-Oct-2018 for BHARATFORG
Sell Below(5Min candle close): 987.2 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and...