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Divergence

Double Bottom : Good Risk to Reward TradeAshok Leyland has formed double bottom and showing signs of reversal. It has a reasonable PF catching the price frequencies and is available on the LML offering a good entry. It has formed a double bottom with divergence on MACD which is quite reliable setup. Heiken Ashi has turned to Green also. One can buy the stock with the following details Entry current Price 79,50 SL 77.4 Target 86.25 Risk/Reward Ratio above 3.21 Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:ASHOKLEYLong
by praveen.bhatiya
BankNifty Bearish ViewBankNifty after a long rally from 24244 levels to 27754 looking week at higher levels. It has broken the trendline and showing bearish divergence/crossover as per stochastics and MACD on daily charts. Considering the risk reward ratio its a perfect juncture to remain on short side in BankNifty (sell on rise). Obviously hedge your positions to safeguard your portfolio. I would recommend to create a covered put which can be rolled up or averaged if it moves up higher which seems unlikely. Maximum banking heavyweights are trading near their highs and showing weakness too. Today BNF may see some retracement and technical pullback. Aggressive traders may employ the covered put if they see BNF at higher levels.
NSE:BANKNIFTYShort
by TradersVenue
SHORT : Victor Sperandeo 2B Reversal Pattern RSI DivergencePrice formation suggests a short as recommended by Victor Sperandeo in his 2B Pattern. Price closed above the previous high yesterday with good volume but got rejected immediately and closed below to low of yesterday. One can short the stock with reasonable stop loss. Risking the small amount gives an opportunity for a decent Risk to Reward ratio trade. RSI divergence is one more confirmation for the trade. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:LTShort
by praveen.bhatiya