BharatForg: The Bearish GartleyThe Pattern has not yet completed itself so in anticipation of it being a bearish Gartley, the potential reversal point could be around 1174. The level 1158 could also act as a supply zone, so I would call 1158-1174 to be a potential reversal zone. If price breaks above the yellow trendline (shown in chart) it would have tendency to test the reversal zone. The pattern would fail if 1174 zone is breached on the upside.
If price breaks below the yellow trendline, 1064 should be a level to watch out for. The price may reverse from this zone to complete the pattern on the upside.
Hit like if this idea was informative and helpful. Comments are welcomed.
Trade safe.
Best Regards
Bravetotrade
Bharatforge
is BForge in 5th wave extension? If yes, awesome risk reward!! My counts are marked. i believe that we are in the 5th wave of larger degree and we have done the 61.8% target of 1097 and is already extended.. if this is..then we may correct this 5 wave up move and head for 900 or so .. !!
Please do provide your comment on how these counts sound? or if you are working with a different counts ?
SL, Targets etc.. are on the chart
BharatForge : Bull's Force ?!There we have simple channeling in Bharat Forge and if the breakout happens as expected we will see new high. Though the potential Double top is not eliminated there are chances for that to fail due to the Bull run, so one may take chance even after the DT failure, but both entries are aggressive only. So Plan your risk first :)
(Repost) Bharat Forge Long ThesisHi I am new here so this will seem cave man like. I am still figuring this set up out but I think this is a great stock from a technicals and fundamentals stand point.
Technicals:
Great trading volumes
Relatively low RSI & CCI despite the upward moves
Another interesting thing to note is the movements this stock has been showing this entire month... pretty big buying blocks vs selling blocks even when there is greater market pressure downward
Fundamentals is a long discussion but check out all accounting related forward ratios and do a comparables study (I wont share mine)
Feel free to comment or ask questions
Needless to say I put my money where my mouth is.
Flag pattern LongVertical price move from 05.12.16 to 08.12.16 has formed a pole and pattern gave breakout after 2 days of consolidation which is normal for flag pattern as it is a small pattern. It seems a good Flag formation as the volume on last day of pole and on the breakout day was relative higher. One can enter long now for a target of 1060. Stop Loss closing below 944.
Bhart Forge broken cup and handle patternBharat Forge after trading in down trend, has been forming a cup and handle pattern,it has broken the handle and seems to have established up trend from here and may see the target of 1146 in the couple of months. traders may enter long in this stock with a first target somewhere between 968-970 in near term.














