Based on my PredictiveSystem's signals, its going to be a RED candle on 18-May-2018 for BHARATFORG
Sell Below: 723.5 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 please do your own research before...
Based on my PredictiveSystem's signals, tomorrow (06-Apr) its going to be a RED candle for NSE:BHARATFORG
Sell below: 725.1
Stop loss: 730.1
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 please do your own...
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.
Bharatforge is in the Breakout / Reversal Zone.
Moving in a channel for almost an year, had a great leg up from 720 to 1220
approaching /retesting another channel sup/ res orange band for a breakout/ reversal.
It can make a leg down inthe triangle before breakout on the upside.
The 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...
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
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 :)
The stock has given rejection wicks / failed breakdowns from its support levels indicating bulls defending it.
Keep it in watchlist for going long.
If it closes or is going to close above the blue line, go long.