Shorting opportunity based on price action
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Watch this full analysis for an opportunity on daily timeframe to SHORT it.
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Note: This is for educational purpose only.
There is a bearish breakout from channel after formation of double top. RSI below 50 supports the bearish momentum.
There is a congestion zone around 349, where the price has found support and moved upwards. Offering a 2.5:1 RR, which can be increased with a trailing stop loss. Buy at 366, Sl at 352 and Target at 405-406.
Bharat forge is up for a contra trend trade. There is a bearish divergence in the upper channel of what could be a 3 wave correction. It is also at an important resistance level.
On daily chart Bharaforg stock Break out level seen clearly & stock closing above that level which is the good sign of bullishness. So in next trading session this can be taken for long entry above the level of 335 till next level @ 365. Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please...
PRICE ACTION BACK ROUND OF BHARAT FORGE
1. On request of one of my followers who is very curious to know price action of bharat forge. This is dedicated to you and all those traders and investors who are trading in this stock or wanted to trade and invest .
2. See bharat froge has made its bottom now no more low . This stock has not started its accumulation...
Sustained above 296 will lead the price to reach the target of 302.3/309/319 trail sl sl 276
Sell below 256 if sustained then 247/236 is the target with trail sl of 276
**Educational purpose only
BHARAT FORGE Showing good strenth on the chart from the last few days, & we hope that this rally will continue.
just view
buy Bharat forge above 295 for the targets for 320/350/380+, with the stop-loss of 245 closing basis
On a daily charts, on Friday, Bharat Forge gave closing above its support of 274. So one can go long in Bharat Forge for a target of 335 and above with a stop loss of 265
