Cholamandalam Investment And Finance - Long Setup, Move is ON...#CHOLAFIN trading above Resistance of 966
Next Resistance is at 1111
Support is at 797
Here is previous chart:
Chart is self explanatory. Entry, Resistances and Support are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
CHOLAFIN
CHOLAFINCHOLAFIN:- Ascending triangle pattern is formed wait for breakout keep your eye on stock
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rest details mentioned in the chart.
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Chola Finance SHORT, Rounding Top The Short Setup is as follows:
Elliot Wave Standing Point:
Rise from Covid Lows can be marked as a Diagonal in the form of ABCDE and Wave E just completed in September
For the Short Term as per Daily Time Frame, we can see the following Observations:
1) RSI gone below 40 ✅
2) ADX at 24 rising, DMI in Sell Mode ✅
3) Super Trend (10,3) gone in Sell Mode ✅
4) MACD in Sell Mode ✅
5) And Most Importantly there is a Classic ROUNDING TOP Pattern Breakdown ! where the Base has Low Volumes and the Breakdown is on High Volumes
Downside Target open to:
705 - 700 (as per Rounding Top Pattern)
Stop Loss:
Can be kept > 760
Since on Weekly Time Frame, it is a Diagonal as per EW Count, the Downside can exceed even further. So DO NOT Bottom fish
The Target of 705 - 700 is bare minimum expected (conservative case)
Chola Finance Can you sell it ? 🤔Hey, do you like profit then your search is ending now
Today we are having
NSE: CHOLAFIN
We have already seen that the chart is showing us weakness in the past few days but the scallops patterns have occurred and now you could see a downside
What we have found by analyzing the chart
1. A Scallops pattern has occurred
2. The Chart Breaked a series of dojis and could be for selled for this week
3. It has left the 50 - day moving average a way too far
4. Time frame :- 1 Day
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CHOLAFIN - Ichimoku Bullish Breakout Stock Name - Cholamandalam Investment And Finance Company Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 770
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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