SELF EXPLANATORY SERIES : QUICK ANALYSIS ON HOMEFIRSTIn this self explanatory series i will be posting charts with pure technical analysis on charts without full length explanations , Traders can ask their 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 any investment or trading.
Demand Zone
#M_M at good demand zone M_M is consolidating at important zone which is also a good support
a good risk to reward trade can be initiated here with 4-5% risk and 15-20% reward as target 1 and 2
risk taker can initiate the trade here but safe traders wait for a green candle and volume but this will effect your risk to reward ratio
this is not a trade recommendation
Happy Trading.
ITC | Can expect an up moveITC looks good at 214 for a target of 230. After repeatedly taking support near the 200 zone since January, price has broken out on 23rd July. Now it looks ready for move till 230, which is kept at the 78.6% retracement level.
Thank you.
If you like my idea, please check out my other charts as well.
taking good support for long positionsL&T Finance holdings is taking good support on fib retracement 0 levels and could give upside more to 90 and 96 levels in few days but if breaks 75 on downside then could go down more. one could use 75 levels as strict stoploss. please remember its just for study purpose only and i do not suggest anyone to invest without doing own research.
WAIT FOR A PULLBACK TO ENTER LONGS IN VEDLVEDL had a successful breakout on 29.07.21 and would have given around Rs 60 profit. Since the stock is an uptrend would it be prudent to enter now.
My thinking is since the stock has given a good profit in the push phase we should wait for a pull back to enter fresh longs.
Also we have a negative divergence. So wait and watch before committing to fresh longs.
COLPAL... ACCUMULATE FOR LONGTERMSupply zone- A price area where is strong selling interest. The supply is more than demand.
Demand zone- A price area where there is huge buying interest. Demand is more than the supply.
When the supply zone is broken out it turns into a demand zone.
COLPAL is at a good entry point. Can accumulate from 1600 to 1650 levels for the long term.