CHOLAFIN
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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Based on Your Own Risk this is only to show you what's going on
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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Chola Finance Analysis !! Broke Out.📈 CholaFin 📉
This broke out from a resistance zone 690-700 on closing basis after testing three times.
On Buy Side I am looking for Targets of 800 - 820 zone.
Target Calculation = 2*(Resistance Level - Last swing low)
StopLoss should be kept in 680-690 zone.
It offers 1:3 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Cholamandalam Investment & Finance Company Ltd - 11.02.2022Cholamandalam Finance & Investment Company Ltd - 11.02.2022
The stock is trading @ 680 levels
There is a SPINNING TOP & DOJI in Daily Chart
The prices are above EMA
There is a MACD Bearish Divergence in Daily Chart
There is a RSI Bearish Divergence in Daily Chart
Let the prices go below 671, one can initiate a sell position with support @ 684.40
Watch out for the price action
CHOLAFINNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
CHOLAFIN Trade Setup For MondayAs you can see in the chart, there is a strong resistance at the level of 572,
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Stock has given the breakout two day back after the BREAKOUT stock took some correction.
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So if Monday stock goes above 582, we can buy this trade Target will be 590-595.
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I tried to mention each & everything on chart, still you have any quary you can comment in the comment box.
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Thank you :)