ASHOK LEYLANDAshok Leyland appears to have completed a diagonal which is v close to weekly ichimoku resistance. A retest of 78-75 could be possible if it were to sustain below 89. Q3 results are expected on Feb 13
Diagonal
Long Bank niftyBank nifty forming an ending diagonal of wave C for a steep fall soon. Long bank nifty for target 27900/28000 Only and only if touches 27369.
Rising Wedge/ending Diagonal- Potential short candidateJubilant Foodworks- looks like an ending diagonal or rising wedge with volume and momentum divergence.Short with Stoploss at 1437.5 spot price.
Cadila HC repeating itself, Breaking out from Diagonal TriangleAs seen before, the price action is now breaking out big from a consolidated diagonal triangle. It shall now further move down to 350 levels.
BIOCON - SHORTING SETUP The price action is been trading in a leading diagonal pattern which is now indicating weakness as higher prices rejected by sellers and sellers are now in dominance.
I would suggest to short this one on every rise.
Target 1: 850
Target 2: 825
Stoploss: 940
Trade with care, thanks for your support.
JSW Steel Breaking Out Diagonal Pattern (Bearish)The price action on hourly charts indicates that there is high selling pressure that has broken out from preceding diagonal pattern. It simply indicates weakness and dominance of sellers.
Target 1: 1668 (i.e. Fibs retracement levels of 0.382)
Stoploss: 1840
Coal India Breaking Out Channel Pattern (Bearish)The price action breaks out from a trending channel , indicating weakness and bearishness. It shall now reach to Fibs levels targets at 321, 313. Stoploss 336
