MOMENTUM TRADE IN TVS MOTORS
:-RISE IN OI+RISE IN PRICE INDICATES LONG BUILT-UP
:-BULLISH ENGULFING VISIBLE ON DAILY CHARTS
:-200-DMA IS TAKEN OUT AFTER A VERY LONG TIME
TRADE IN FUTURES 28TH NOV 2019
LEVELS ARE ACCORDING TO SPOT PLEASE ADJUST FOR FUTURE PRICES
ALTHOUGH REAL OI DATA WILL BE AVAILABLE...
The stock has formed 3 Drives on Bottom pattern and is in deep oversold zone. It has formed bullish engulfing showing a potential reversal therefore one can go long at this level with the recent low as Stop Loss. One can expect the 68 as target. It offers a healthy risk to reward ratio of 3. The defensive trader should wait and enter once it starts trading above...
After a steep fall of 3 months, looks like Ashok LeylandNSE:ASHOKLEY has resumed its upward journey from August.
I can see that the stock has reversed from its long term trendline forming a Bullish Engulfing candle.
Also, it has reversed after retracing 61.8% of its previous upmove.
Good stock to accumulate with a stop loss below 110 levels.
The Pharma index NSE:CNXPHARMA seems to have resumed its uptrend today after consolidating for about a month.
After a pullback from 636 to 566 levels, looks like Aurobindo Pharma NSE:AUROPHARMA is all set to start the next cycle of uptrend.
I can see that the stock has reversed after retracing 61.8% of the previous upmove and formed a Bullish Engulfing candle...
Crude oil TVC:USOIL fell sharply from 75 levels to make a low around 67.
However, this low is higher than the previous one so the rally may not be over yet.
I can see that the price has bounced back after retracing around 61.8% of the previous upmove, forming a Bullish Engulfing candle.
So we might be in for another cycle of an uptrend in Crude.
As long as...