Infratel Long Double bottom Action/Reaction TradeThe pattern is simple and clear so doesn't require much details. After breakout it is retesting from the above which could be an opportunity to go long with small stop loss. It has also broken the down sloping trendline.channel and trading above it convincingly another confirmation for a trend reversal. One can look a target of 357 - 370.
Channelbreak
Medium Term BreakoutRPOWER has given medium term breakout at 48.75 trading in upward channel watch near 48. can go long for target 53+ stop loss close below 47.
Go long on Bharat ForgeIt looks, Bharat Forge bounced off from Channel Support and 50 day moving averages.
Near term target is 1110 with stop loss of 1000
Mcleod Russel - Channel Breakout It is been observed on Daily Chart that the price action breaking out from a downward trending channel consolidation, indication of a bullish move ahead.
Target 1: 171
Target 2: 175
Stoploss: 164
Channel Breakout + Shark PatternGiven channel breakout on daily chart & about to re-test the trend line.
On the other hand, A Shark ( Harmonic Pattern ) is on the making & it may be a good trade if we can get it around 11.5 to 12 ( if price action supports).
Stop loss would be below the green zone & Targets shown in the chart.
Mahindra & Mahindra Flag Breakout It is been observed on the daily chart that the price action firstly forms a double bottom at 1140 levels and then went up and breaks above the previous resistance of 1215 levels. Then it consolidates in a downward channel or flag formation and now it has broken and closed above the channel/flag indicating further bullish move ahead.
Target: 1250
Stoploss: 1200
Intraday Banknifty short setup Tomorrow is crucial day for banknifty.
if it broke the channel downside then we will see heavy selloff.
If not then it will remain in consolidation zone(19220-19100).
Breaking upside is rare possibility.
I will trade only short side for tomorrow.
