Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my ...
Infosys NSE:INFY has been in a downtrend since October making lower swing highs.
I can see that it again got rejected at the trendline resistance and formed a Bearish Engulfing candle.
Shorted here with stop loss a few points above the trendline resistance for a first target of 625.
A deeper correction can take it to 610.
Disclaimer: Views expressed here are ...
As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
BEARISH ENGULFING IN BANKNIFTY
SHORT TRADE IN BANKNIFTY
BUY PUT OPTIONS OR SHORT THE FUTURES
LEVELS GIVEN AS PER CASH MARKET RATES
PLEASE ADJUST ACCORDINGLY IN FUTURES