Trade with >70% probability: SELL close@ 1,2320Risk: - 41 pips Profit: +7 pips
Profit/ Risck Ratio: +17 %
Theoric Probability: >70% Actual Probability: + 92,8 %
Total Gain: +405 pips
Closed
Dr. Reddy's - Descending Traingle Formation NSE:DRREDDY is at the bottom edge of the descending traingle.
Levels and zones are marked.
Trade accordingly.
Cheers !
APOLLO TYRES - VOLUME SPURTCMP - 194.
Broken downward trendline today with huge volume.
Also possible to break and stay above black line.
Yellow lines are previous occasions of this volume.
Keep this stock in watchlist.
Thanks.
BANKNIFTY - CRITICAL JUNCTION Hi guys, whats' up ? Hope you're having good trading lately.
So, here I am to draw your attention towards BankNifty which is making all-time record highs.
If you study the chart, you'll find it's the 5th time we have reached this level, since when we first reached here in Jan 2015.
And this time, we got a big gap up and a red candle down.
I have drawn the white lines which are strongest support and resistance lines. and the black one is a good support line. so currently it is at a strong resistance( white line ) , keep that in mind.
Now, what to do from this ?
You can use this chart to trade according to your strategy considering the timeframe you want to trade, the risk, the position size and the kind of trader you are.
Use and keep looking at this chart for further use too.
If it stays above the rectangle box, it will indicate huge buying interest and more probability of it going up.
It if can't hold above or inside the box, then it isn't so strong, and one should wait till it re-enters the box and shows sign of strengths of a potential breakout.
If it stays below the box, it is quite weak and one should look for short trades till it reaches next support of the black line.
Do read my related idea of Weekly Education Series if you haven't already. It will help you in building a trading plan :)
Regards,
Dravya
PNB - Intraday / PositionalHere, is a potential short setup .
I'll go short on PNB tomorrow , only below 145 , if it stays above it, no trade entry.
If it's below at 144, I'll go short :
A part for intraday,
where I'll keep 1 point stoploss
and target according to movement.
And the other part for positional,
where stoploss would be 151 ( 7 points ) and
target 132 ( 14 points )
Risk Reward :: 1:2
P.S. If you're buying options , go for 140 PE . Don't go below that.
But beware of risks of options, only for pro traders who understand it completely.
Short Term - TATA MOTORSHere's a potential long setup .
CMP - 513.55
Buy close to 509, whatever market gives.
SL - 505 ( 4 Rs )
Target 1 - 518
Target 2 - 531
This is according to a strategy I learnt in an expensive professional course. Let's see.
Thanks.
Tata Communication - Confused ?NSE:TATACOMM has entered yet another zone , following which may stay out of the zone for quite some time.
A good upward thrust recently but as in the past, could be followed by down move.
MRF - Fake Breakout | Range ? NSE:MRF has been trading in a range starting October and yet again reversed from highs.
If the supply zone stands good, it should go down to the previous swing low.
Otherwise, if it breaks the rectangle upside, we might see action on the long side.
Tata Chemicals - Possible Breakout NSE:TATACHEM is in an uptrend and as you can see, looks like may climb upto the levels of previous resistance if the lines hold up.
Cheers !!
LIC Housing Finance - lookoutNSE:LICHSGFIN has bounced off from the support zone with a strong bullish bar and good volumes.
Watch for how it reacts when it meets the trendline.
Coal India - 3rd TouchNSE:COALINDIA is heading towards 3rd touch of the trendline.
A strong bullish bar with good volumes and also rejection wicks of recent bearish bars; accompanied by 50 DMA signal a probable upmove after consolidation of the prior strong upmove.
CMP- 313.55
Exit below 310.
Target 320-325 according to line.
Tata Coffee - BreakoutNSE:TATACOFFEE has given a 50 SMA breakout with huge volume. The stock should be in action in the coming days.
Trade ideas are welcomed by fellow traders.
JETAIRWAYS - Ready to take off ? Here, i have identified a potential long setup in JetAirways.
It's a short-term positional trade.
CMP - 378
Date - 6 Feb 2016
I have written notes on chart to help you trade.
Thanks.
Will be updating you.
Regards.
Cipla - Important Support + Double Wedge NSE:CIPLA is at an important support tracing back to 2014.
It's currently trying to overcome it and has a positive market structure with good trend strength.
As you can see it is having 2 rising wedges forming, a smaller one inside the bigger one .
Indicating a very good sign of bullishness.
One should expect upside and look for long trade opportunities.
Banknifty - Levels to watch Here, in this chart,
you can see the zones important for banknifty in upcoming days.
Currently, is above the 50 DMA approaching previous resistance.
An upper trendline will halt the move if it trends upwards.
Cairn India - Positional NSE:CAIRN is around long term resistance levels .
Trendline support supported with volume may give breakout.
Otherwise, keep an eye on trendline break
Maruti Suzuki - Short Continuing from the awesome prediction of nextgen sir ( see in related ideas ) ;
maruti suzuki has again faced resistance at that level with full down candle.
Short trade can be placed with the high of the candle + cushion as stoploss.
Axis Bank - My Trading ViewNSE:AXISBANK has convincingly broken the 50 day moving-average preceded by a strong pin-bar.
Now the levels near 485 should be watched as it should prove decisive for further trend of the stock.
Sun Pharma - Decisive levelSun Pharma is now at a multi-year horizontal - SR level .
You can see the levels go back upto 2013 which make them important.
Fellow traders are suggested to trade as they decipher this chart in their own way .
Cheers !!
Tata Motors - Daily TrendlineTata Motors -
1. Here you can see, NSE:TATAMOTORS is on resistance on daily trendline.
2. Also, you can see the earlier resistance area which might turn out to be support and help in breaking out of the downward sloping trendline.
3. Otherwise if it doesn't find demand, we may see levels of the previous swing lows.
4. There's a divergence with the OBV osciallator indicator too. indicating weakness.
Intraday - Long Powergrid CMP - Buy at 203.8
Stop Loss - 203
Target - Ride it till it touches yellow .
Intraday - BoB ShortCMP - 155.1
Stop Loss - Upper yellow line of triangle
Target - Ride till End of Day
