Few pointers from my analysis on JINDAL STEEL AND POWER.
1. The stock has been in a significant uptrend , making higher high and higher low formation.
2. The stock has consolidated for good amount of time in the big continuation flag pattern.
3. The stock has been respecting all major Fibonacci retracement levels and has in-fact retraced upto fibo .618 level ,...
In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...
TCS, the leader of the IT pack, is in a nice uptrend. If we see a continuation of the bar formed today, we should be approaching 4000 odd levels in no time. One could initiate a trade keeping the following levels in mind.
This is a example of how I trade a full impulse in a downtrend. My mistake with the SL was due to the wrong entry price, I should've waited for the correct OB (order block), since those are important OTES for the "whales" in the market. Also, it follows the normal fases in the wyckoff method, after acumulation, it comes the markdown of the market movement.
STOVEKRAFT has been in a nice uptrend and it had made a high of 1017 on 30.08.21. Since then it has pulled back to the 20 EMA and has formed a continuation bar today. It seems that it is poised to continue its upward trend and possibly make new highs. A long trade can be initiated keeping the following levels in mind. Only initiate the trade if price sustains...
CIPLA had formed what seems like a head and shoulders pattern, from which it broke down from on 27-07-21. After breaking down from the pattern and range it fell from around 945 level to the 875 level. Since then it has pulled back quite neatly to the bottom of the range and has then created a huge continuation bar to the downside with above average bearish...
- Ascending Triangle pattern breakout with the promising volume on the breakout candle
- Stop-loss is placed at 3% of the prices below the breakout level
- Risk to Reward ratio is attractive
-Width of the triangle is projected as the target
- Scaling out can be followed
Being in Strong momentum for a long time Quess corp has given out a fresh continuous pattern of FLAG. Hopefully, this strong bullish trend will continue. Have a watch for break out from Flag pattern with high volume and RSI above 50 which shows buying interest.
As the stock is in high momentum but MFI is giving a negative divergence we can expect a dip in the price so enter accordingly as mentioned above. Also stock is having good volume which is another good indication to enter. Stock has also given a multiyear breakout.
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XAUUSD : xauusd is currently going to sell down for beyond the technical analysis XAUUSD sell down
1. Trend reversed into the down trend
2. Continuation Pattern : rising wedge formed..
3. xauusd is corrective wave also completed to going down.........
Long Above 236
The Minimum Price target is 278. But that's not where we should exit. After an entry, hold the stock until the trialing stop-loss gets hit, or 1:5 RR is achieved. There are plenty of techniques and tools to trail the stop-loss. One can trail the stop according to his/her risk appetite. I'll update the idea about...
Risk - Reward Ratio 1:5
LIC HOUSING FINANCE, from May 19th to Uptill June 17th, LICHSGFIN had a strong impulsive move. Since the 17th June top, price is in consolidation and remained above the 50% retracement level of the previous impulsive move. There is a high probability that an ongoing consolidation breakout may result...