Reason for going BUY The price has broken out of the resistance level with strong consolidation and huge volume The RSI is above 60 which shows bullishness The rounding bottom pattern has been retested This is for educational purposes, based on your own money management decide to enter or not.
Note: This is for educational purpose only. There seems to be a build up near long term resistance/ supply zone which indicates loss of selling pressure. Moreover, there is an increase in volumes. RSI above 65 indicates bullish momentum. Buy above: 575₹ SL: 509₹
On the 30 min timeframe, Cholamandalam Finance seems to be on the verge of a breakdown if it is able to break down the level of 362!! The OI data also indicates Short Buildup!! Once it breaks the level, the first expected stop will be 350, then 340, then 330 and the final target expected is 310 odd!! Cheers!!
Zeta scanner Weekly Graph suggests Chlamandalam growth story is over.Just a big red candle and it will start sliding down. Also, just see the perfect automatic buy sell indicator by Zeta Scanner. Enjoy the trade !!
NSE:CHOLAFIN
Note: This is for educational purpose only. There seems to be a ascending triangle bullish breakout with high volume. Previous support has turned resistance. Moreover, RSI above 65 indicates bullish momentum.
#Cholafinance Moving good from Weekly resistance trendline... next target 230 - 220
BUY ONLY IF IT SUSTAINS THE LEVEL OF 260 FOR THE TARGET OF 300
Cholafin is trading near its swing high, looking at the strength if breaks 260 and sustains more gain upto 285 can be seen. SL would be 249.
Chola Fin has formed a bear piercing candle at the resistance. If today it breaches the last green candle's low and sustains, more fall may happen
Looking good buy at CMP (or buy on Dips) for Short term buy (Up to Friday) - Targets 210, 215, 220 with SL at 195 For details of Fib retracement levels, refer the linked idea. If market & BN doesn't come crashing, Go long on August Futures or OTM options. For Intraday, It may be a risky trade - trade in the direction of market.
CHOLAFIN given break out zone today one can invest at current price with immediate target for 240/-
Note: This is for educational purpose only. There is a strong build up near resistance for the last 20 days or so. RSI is above 60 which indicates strong bullish momentum.
breakout or breakdown.
NSE:CHOLAFIN Reason Being: 1. Bullish Flag Breakout Every Price Action Pattern after breakout provides some Target Range and according to Triangle: Target Price: 235 and 260 View Negated Below: 201 in closing Basis #Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any...