NOTE: This is for educational purpose only. My previous view of CholaFin was wrong . Fresh view is a proper bullish breakout with hike in buying volume. When there is a breakout with high volume, usually it is not a false breakout. This seems to break 185 levels as well.
Note: This is for educational purpose only. There seems to be a bearish RSI divergence where price makes higher highs but RSI is contradicting. Moreover, there is a shooting star on hourly chart.
DISCLAIMER: This is one of my personal view and not a recommendation. If CHOLAFIN moves above 165, (which it was trying to break since one month) 166 would be a good entry for intraday trading. Also set 176 for a safe exit.
INTRADAY TRADE IN CHOLA FIN BUY@156 STOP@153 TARGET-1@158 TARGET-2@160.75 TARGET-3@165 !!please note trade with caution!! !!manage your risk!! !!trade-wise!! !!please adjust for future rates!!
Looks like a very interesting pattern. Finding a Reverse Head and Shoulder Pattern at the bottom of a down trend is highly successful.
CHOLAHLDNG with high percentage of delivery (82% last eight days). Needs more volume to be meaningfully indicative.
Follow Chart Instruction. Dis-Investment Chart
Cholamandalam inv- Cmp-1389, May test 1350.1350 is gud support area horizontal and trend line.
the stock is going for a 1month time frame pullback-refer to chart for target and SL
After a heavy volume selling, volume is seen decreasing with a rising wedge/rising channel. This shows probable consolidation before the selling trend resumption! There is also a near bearish engulfing pattern seen the day before!