8 new price lines candlestick pattern 1. It occurs in an uptrend.
2. The pattern is characterized by 8 candlesticks with higher highs.
3. Closed off the candle should be above the previous candle stick body
If this occurs, there are more chances that there will be a rise in Prices. If the Close is below the Top of the Real Body of the Previous Candle , there are more chances that there will be a fall in Prices.
Candleshunting
#ULTRACEMCO buy abv 6870 , Tgt 7145 / 7313 / 7468#ULTRACEMCO after BO abv 6470 on 29-Mar continues its upward move attempting to close abv 6870 - nxt resistance
Buy on Daily close abv 6870
Tgt 7145 (4%) / 7313 ( 6.4%) / 7468 (8.7%) on candle shunting
SL 6580
risk : reward - 1: 1.35 / 1: 2.2 / 1: 3.5
RSI crossover above 60 should give positive momentum
#swingtrading #trading #nifty
#MANAPPURAM Buy at 121 ; Tgt 124/140/150#MANAPPURAM #swingtrading #trading
after sharp sell-off in mid-Feb on fears of increased competition, it took support at 110 & consolidated
Buy at 121
Tgt 124/140/150 #candleshunting with minor resistances at 140-143 & 150-153
SL 110
Risk Reward : 1:2(140) & 1:3 ( 150)
#ABBOTINDIA abv 17.3k, tgt 19.6k , SL16k#ABBOTINDIA
Managed weekly close 17380 abv prev week close
This is the level from which stock also BO in Jun-21 before topping out at 24000.
Stock has got support at15900 over last 5 weeks.
Reverse candleshunting can take place
Entry - 17300
Tgt - 19600
Stoploss - 16000 ( weekly cl)
Risk: Reward - 1: 1.8
Return - 13%
Duration - 10 weeks