Nifty View: A decently volatile day for the benchmark Nifty50 index as it closed down a little over 60 points in today's session. So far, we have three consecutive negative days from the index, losing almost 3% on a high to low basis. The short-term trend is still up, but vulnerable as the index nears the psychological level of 18,000. However it was clearly the...
According to my analysis, I see a good buy in WOCKPHARMA @482-484 in this bullish market.
1. Supertrend* generated a buy signal.
2. Average Directional Index is above 20** and is rising.
3. Close to 200 ema, Bounce Back Expected.
4. Near PIVOT R2, May act as support now.
Time frame: 1day, Strategy Type: Swing Trade
*Supertrend settings= 14/3
Nifty View: Seventh consecutive positive daily close from the benchmark Nifty with today’s 40 points up move. Yesterday's “Shooting Star” pattern in the intra-day charts played out at the first half of today’s trade followed by a high-momentum bounce back and we are now back to yet another new life-high. Now, it's these kinds of days that start to create...
IGL has bounced from its Trend line support from where it has bounced multiple times in the past as well. This bounce also coincides with 200DMA support. We are bullish on this stock with 560/580 as short-term swing targets.
Nifty View: Benchmark Nifty managed a fine bounce back in today’s trading session - up 60 points to recover most of yesterday’s correction. The short term support zone of (15,800-15,830) though breached once in the opening held well throughout today’s session. This is a good sign as anticipated supports held prices up raising possibilities of a new life high...
BTC witnessed a volatile last week, from its low of $31K to close the week above $39.3K. On the weekly TF, it gained by ~9% and formed a Hammer candlestick pattern which depicts reversal is on the cards, mainly backed by positive news from El Salvador which have adopted BTC as a legal currency. At the time of writing, BTC is trading slightly above $40K.
SUZLON ENERGY LTD LOOKS BULLISH
THERE IS TWO POSSIBILITIES
1. MARKET CAN MOVE HIGHER FROM CURRENT LEVEL (CMP)
2. MARKET CAN COME AND TOUCH THE TREND LINE AND MOVE HIGHER.
LETS WAIT AND WATCH.
Past movement shows that Hindustan Unilever always bounced back from the channel bottom::
I am on a Long side... and You???
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Disclaimer: I may or may not trade this setup, do calculate the risk and consult your financial advisor before initiating any trade.
Weekly Supertrend in the green = bullish
Daily William%R coming back from oversold range = bullish
Stock bouncing back from near 50% retracement level = bullish
ADX above 30 = momentum
Buy with a stop at 569 for the target of 700 and above