Hindalco at short-term trendline support, also near 50 EMA which will act as a strong support point. Historically, in the past year, the stock has reversed most of the time from its 50 days EMA. Can go long here with SL below last swing low of 438, aiming for a target of new ATH of 600, giving a 1:4 R:R .
#Here on the daily chart of UPL, the trend is down since the month of june and now the trend is showing some signs of reversals. A divergence can be shown between Price and RSI, price is making lower lows but RSI is continously making higher lows.
#When we put a bollinger band over the price chart, we can see a "W" bottom pattern has formed on the same lows. 1st...
NSE:SBICARD has approached the 200SMA on Daily chart and is not too far away from 50SMA on Weekly. As highlighted in the chart, we can see a confluence of support zone and FIB level.
A confirmation candle might be needed, but it looks like an interesting long setup, especially if 900 is retested and held. Target can be around ATH which is ~15-20% away.
Price...
VOLTAS is making a rising wedge pattern.
The obvious move will be a break down of the wedge as suggested by the Divergence on RSI.
Since price is moving up but momentum is slowing, a correction is expected.
This is a short term market move and post a 3-5% correction, stock will continue it's uptrend or go into consolidation.
Short below 820.
Target 1-...
Nifty continues to consolidate and show respect to the over-head zone of resistance. An Inside Bar after today’s close will definitely encourage contrarian traders to take a short position below today’s low. Now that will be a pretty risky bet for which the immediate levels to watch for on the downside will be at (11,780-11,800). If you go short, please be agile...
overall stock now in a bear grip , but looking at risk reward on trade side
a pullback can be expected
thus will trade in two way
if it comes at 1370/80 zone will short
or if comes at 1290/1300 will accumulate with stop mentioned
LONG TRADE IN BANKNIFTY INDEX
NOTE:-
-THIS TRADE IS CONTRARIAN VIEW
-TRADE WITH CAUTION
VIEW:-
-INDEX IS TESTING ITS 21-EMA AFTER A LONG TIME EXPECT A REBOUND
-200-BAR EMA ON HOURLY CHART IS TAGGING ALONG WITH CRUCIAL RETRACEMENT LEVEL
TRADING VIEW
ACC.TO SPOT LEVELS
BUY@31300
STOP@31050
TARGET 1@31600
TARGET 2@31750
LOT:20
QTY:5
