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...
After a huge upmove from 232 to 289 levels, SBI NSE:SBIN entered into a consolidation zone for a month.
However, I can see that it has bounced back strongly after retracing 61.8% of the previous rally and has formed a Bullish Engulfing candle.
Looks like it is all set to begin next phase of rally after retracement.
Good opportunity to go long here with a stop...
After falling from 435 levels, Ujjivan Financial ServicesNSE:UJJIVAN witnessed good buying activity today.
I can see that the stock has reversed after retracing 61.8% of its previous upmove, forming a Bullish Engulfing candle today.
Good opportunity to go long here with stop loss near today's lows for a target in the 408-420 zones.
New trading suggestion:
*The price is in an up trend and we forecast the uptrend would continue.
*There is still possibility of temporary retracement to suggested support line(0.0000275), if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If the support line at (0.0000275) is broken, the forecast...