"SBI" Buy @ 269.80Looking to Buy SBIN @ 269.80
SL @ 260
TGT 1 @ 278
TGT 2 @ 290.
This is a purely counter trend trade and is slightly more risky than usual.
I am going to take a very small risk on this one.
HARIBOl !
Countertrend
Axis Bank - 1HrAxisBank - Rounding top in hourly. If Closed below 801 then 795, 789 can be attained. Stop loss - 808
GAIL - 60 Gail Broken Trendline in hourly. RSI Divergence seen. If closed below 356 then 353 - 350 can be attained. Stop loss 360.
GBPJYP TO RETEST 145.00 level !!Sell GBPJPY targeting 145.00 level. Last week we saw a strong resistance around the 148.25-148.50 levels. High probability of a U turn
Stay connected for more trade ideas like this. cheers :)
SHORT in SUNTV on NSE (INDIA)This is daily chart of SUNTV on NSE (INDIA) with CMP @ 607.55. It seems to be a good shorting opportunity in the scrip based on following observations:
1. It is downtrend which is obvious from the chart. Counter trendline has been drawn which acts as resistance marked by arrows.
2. It is also observed that price tests EMA50 on retracement and gets rejected to resume downtrend.
3. Price broke out on 5th Nov 2018 and then opening & closing appeared outside the triangle drawn on the chart.
4. Stochastic RSI indicates bearish view/bearish crossover.
In view of above, it could be a good short trade with stop @ 659 (above EMA20) with targets as 545/475 as shown on the chart.
Happy trading...
Short in BHEL on NSE (INDIA)This is weekly chart of BHEL on NSE (INDIA) with CMP @ 69.20. It looks a good shorting opportunity on the basis of following observations:
1. Please refer counter trendline/resistance line drawn on the chart which acts as resistance as shown by arrows.
2. Price retraced to 38.2% level on Fibo as shown on the chart and downtrend again resumed.
3. A symmetrical triangle breakout on downside was witnessed on 5th March 2018.
4. A H&S like formation is observed with breakout on 7th May 2018 and neckline was tested on 27th Aug 2018.
5. Stochastic RSI shows bearish crossover with enough cushion for it to be in oversold zone.
6. It may however find interim support in 64-65 zone and on break of this level, it is likely to fall to 42-43. Stop can be kept above previous week bullish candle
Happy trading....
LONG in TVS MOTOR on NSE (INDIA)This is weekly chart of TVS MOTOR (CMP @ 553.45) which looks good for a long trade based on following observations:
1. A trendline has been drawn which has been tested for its reliability many a times as established support as shown on the chart. This established trendline once again was tested on 8th Oct 2018 which also coincides with key retracement level of 61.8% as shown on the chart.
2. Counter trendline which acted as resistance many a times, has also broken out.
3. Bullish Harami was formed in prior week starting 22nd Oct 2018 followed by bullish confirmation candle in the last week.
4. Price reversal is witnessed post bullish divergence on RSI as shown on the chart.
Hence, it could be a good long trade with stop @ 524 and then trailing the same to ride the trend.
Happy trading !!!
Unitech: Play For A BounceNotes on the chart.
Hit like, comment and follow.
Trade safe, stay healthy.
Regards
Bravetotrade
NIFTY -- EXPECTING A BOUNCENotes on the chart.
Trade safe, stay healthy.
Do hit the like button, it does not cost anything :)
Regards
Bravetotrade
RCOM - Counter Trend Trade SetupIt is been observed on daily chart that the price action is moving up with higher high then previous green candle indicating a counter trend setup. It shall further move up to Fibs levels of 23.6% at 37.70.
Target: 37.70
Stoploss: 34
RR: 1:1
