Lupin made double bottom pattern in weekly and monthly chartLupin made double bottom pattern in weekly and monthly chart which is a reversal pattern.
Double Bottom
Uptrend in FBFB formed a double Bottom from 11/18 to 02/19 which was confirmed by the succesful breakout on 14 january. Fueled by the earnings Reports on 30 january FB had a big upside gap. Now we have breakout of the consolidation and so we have further updside potential.
Profit Target 215$, Stop loss 165$
2:1 reward : risk ratio
EUR/AUD Technical analysisThe pair is confined within the ranges of 1.57393-1.60778 for the past 2 months.
It can be construed as ABC correction and the pair is assumed to in bull cycle.
The value of 1.57393 provided strong support to the counter and it reversed the pair from the downtrend.
A double bottom pattern formed at the formidable support of 1.57393 is actually the wave 1 and 2 of the bull cycle.
The break of the trendline and the formation higher high also adds strength to the above theory.
Currently, the pair is testing the broken trendline which can be used as a ‘buy on dip’.
We expect the pair to reach the resistance level of 1.60778 and we will update you regarding any change in our view.
IRB made Double bottom in Monthly Time frame chart IRB made Double bottom in Monthly Time frame chart
Good for long term
POSITIONAL TRADE IN INDIAN BANK APRIL (FUT)POSITIONAL TRADE IN INDIAN BANK
WEEKLY RANGE BREAKOUT LIKELY
CLOSE ABOVE 274 WILL ASSURE US 0F 200-DMA BREAK
APRIL FUT
BUY@274
STOP@262
TARGET@294
LOT:2000
QTY:3
2-TO-3 WEEKS OF TIME FRAME
AUD/NZD Technical analysisThe pair has made a double bottom in the hourly chart.
It can retrace to support at 1.03147, for now, which is a good entry point for long trades.
We expect the pair to move to the resistance at 1.03523.
Buy below 5600, Strong Support @5461 for target 6184See the chart, its leading to form double bottom.
POSITIONAL TRADE IN GRASIM MARCH (FUT)POSITIONAL TRADE IN GRASIM
MARCH FUT
DOUBLE BOTTOM IN GRASIM BREAKOUT CONFIRMED!!
BUY@810
STOP@790
TARGET@830-50
LOT:750
QTY:1
POSITIONAL TRADE IN GRASIM MARCH (FUT)POSITIONAL TRADE IN GRASIM
MARCH FUT
DOUBLE BOTTOM IN GRASIM
BUY@790
STOP@770
TARGET@820-840
LOT:750
QTY:1
POSITIONAL TRADE IN BANK OF INDIA MARCH (FUT)POSITIONAL TRADE IN BANK OF INDIA
MARCH FUT
DOUBLE FORMATION VISIBLE ON DAILY CHART
CLOSE ABOVE 91+RISE IN OPEN INTEREST WOULD LEAD TO 100
BUY@91
STOP@88
TARGET@98-100
LOT:6000
QTY:1
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.
Nifty - Modified Bullish Alternate BatFirst Sell - Later Buy
12:56 Hrs / 31st Jan 2019
Last Price@10749
Do read the update carefully & manage your risk while trading. As trading derivatives is highly risky.
Facing Resistance Above 10750 levels & Suggested in all the status updates that we shall be careful in 10730-10750 zone & holding above 10750 only we will look for 10790-10800 next resistance zone.
Trading Strategy
Plan A
Below 10750 - We shall look for a fall close to 10585-10550 zone downside
Plan B
Buying Later if Nifty Halts in PRZ (Potential Reversal Zone ) - 10550 -10585 zone
Plan C
Harmonic Pattern is violated but we will plan to buy if 10525-10535 provides support for upside target 10750-10825
Plan D
Plan to Buy close from 10500 if goes below 10525-10535 zone for same target upside as mentioned in Plan C above
Auropharma - Modified Alternate Bullish Bat
Nifty -Waves -Magic of 10800- Is This Ending Diagonal/Wedge?Trading Strategy
Magical level 10800 was the level identified on 23rd Jan 2019 as per status update - took a risky call in between 10840 - 10850 with strict stoploss -10865
Remember -
If you are trading -you will lose -no doubt but If you are trading & don't know what you are trading - you will lose all!
Plan A
Wait for some correction if index opens with gap up & initiate or execute your buy somewhere between 10865 -10880 - Stop loss is 10800 ( Stoploss is big- If not comfortable- do not trade)
PlanB
Sell only below 10800 or Sell in the resistance zone 11025 - 11050 - Coming with stop loss is tough at the moment
Thanks for watching the video and your precious time.
GSFC Short term view- Bullish1.Indicators are showing bullish signals.
2.Double bottom pattern formed and breakout done.
3.Weekly MACD crossover may happen on upcoming weeks(If weekly closing above 116,it may go further upside)
Vijayaraghavan.K,
Kovilpatti.
