Chart can tell you secrets but only in its language. Its up to you to understand it.
Its simple and is one for long term investors.
Everything is on the chart!
Consult your advisor before making decisions.
It has been observed that the price action firstly breaking above the downward channel and now initiating to form a higher high and higher low sequence indicating a reversal in the price action.
As per my analysis, price action shall further move up to the below targets.
T1- 45
T2- 47
SL- 40
Thanks
Long sbin Above 288
stop-loss - 279.75
Target 324.70
Risk 2.78 % & Reward 12.84%
RR Ratio - 1: 4.62
Continuation Pattern
Bullish Flag
Bullish Flag chart pattern represents consolidation. This means that it occurs after a large movement in price. As such it’s also a continuation pattern, which means that the market is likely to continue in the same direction ...
Dr Reddy
In our previous update we had highlighted the Buy zone for Dr Reddy. And boy oh boy it did just that. It touched the buy zone and is up almost 3% from those levels.
https://in.tradingview.com/chart/DRREDDY/7qnJjPbg-Dr-Reddy-view/
https://in.tradingview.com/chart/DRREDDY/7qnJjPbg-Dr-Reddy-view/
This is what charts can help us with. Plan the trade. ...
PFC
CMP 95.20
One may consider to buy at CMP or on dips towards 92 for Target of 107/113/119/124
Stop loss if trades below 88 on closing basis
Take care and safe trading...!!!
BPCL
CMP 326.85
One may consider to buy at CMP and /or on dips towards 320.
Momentum might be seen above 335-338 zone.
Target for the current setup 360/372
Keep a Stop loss if closing is below 315.5
Alternatively one may consider the following FNO strategy
Sell BPCL 320 PE
Lot size 1800
CMP 11.5
Max profit potential Rs 20700 if stock stays above 320 on 27 ...
REC
CMP 108.40
The stock is trading in a channel. Support at 100 odd levels. Target zone around 130 odd levels.
Can be looked as a buying opportunity at CMP and on dips towards 104.50 for Target of 122/130/144
Stop loss if trades below 98 on closing basis
Take care and safe trading...!!!
Dr Reddy
The stock is likely to head towards 2920 / 3215 levels in medium term
The pattern gets invalidated if the stock closes below the red line on a weekly closing basis
Take care & safe trading...!!!
IOCL
CMP 135.40
On charts the stock is at levels which has the potential to act as support.
The stock looks good to go long from risk:reward perspective.
At CMP and on further dips the stock can be looked for Target of 144/156
Stop loss if closing is below 128 /126
Take care and safe trading...!!!
India cement Bounced nicely today from 89 area. Which was the bottom of left shoulder too.
A Retest to 89 area is possible and stock may form right shoulder in this week.
Short term target is 99 which happens to be the neck line and if The Setup play out, Target is 115+.
Watch out for the Inverse Head & shoulder pattern which indicates the bottom for India Cement.
There is a Bullish RSI Divergence and MacD Divergence on Daily Chart.
Stock is poised for positive movements for this week.
3 Support zones in the chart if setup fails to work.
MGL
CMP 873.5
The stock can be considered at CMP and on dips towards 860 for initial Target of 920.
Keep a Stop loss if closing below 845
Take care and safe trading...!!!!
Glenmark
CMP 624
The stock looks likely to be at support levels.
Target 680 / 700
Stop loss if trades below 602 on closing basis.
Take care and safe trading...!!!
Ascending Triangle in the making for BTC?
Setup Void if price falls Aggressively below 4050 without proper bounce.
If Setup works, i am looking for 5k+
An ascending triangle is generally considered to be a continuation pattern, meaning that it is usually found amid a period of consolidation within an uptrend, but it may also occur as a reversal pattern ...
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