Cochin Shipyard is clearly forming a parallel channel pattern as you can see in the chart. Stock is now very much near its support line and can bounce back at any moment.
Note :- If stock gives breakdown of support line , don't make a long call here. If a proper reversal candlestick pattern like morning star, doji , bullish engulfing etc is seen near the support...
A bullish engulfing candle after a long retracement which also supported by the RSI bullish divergence improves the chances of some upmove in the price.Can go long with the target and stoploss levels as above.
A Bullish engulfing along with Rsi bullish divergence and increase in the volume at the resistance become support zone, all these are a good bet for a long position but only above the candle high. Follow target and stop loss carefully
In Nifty Metal, today Bullish Engulfing have been formed.
And also gave breakout from the handle of the cup.
The pattern is small tough. Let's see how it goes.
We may see breakout from the resistance line soon.
This post is for information purpose only.
Just sharing my own analysis.
as we can see clearly the price is moving in a downwards channel now it reversing from the bottom of the channel by forming a bullish engulfing candle in daily so we will wait for a 50% pull back of the daily candle to see potential buy set ups .
There is a three scenario in Nifty.
1. If Nifty give the gap up opening above 15900 then it goes down till 15760.
2. If Nifty gives gap down Opening so 14760 will be the strong resistance from down to upside.
3. If Nifty give normal opening then market should go down according to last bearish engulfing candle.
So what's your view. Comment below
- NIFTY saw some small corrections in last 2 weeks.
- It has formed Bullish Engulfing candlestick on weekly basis.
- It may cross resistance level of 16000 in about 2 weeks and then re-test those levels for sometime.
BHARAT ELECTRONICS formed
BULLISH ENGULFING Candle on weekly charts.
company recent results were as good as the company itself.
one can buy this stock at current price.
Stoploss = 164.
Period= positional.(long term=3months).
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 8-10 times.
Powergrid has clear rsi bullish divergence in"1 hour time frame".
and also today it forms clear bullish engulfing represents buyers took charge
buy at 235
target at 243(3.80%)
stoploss at 230(1.90%)
C0NS: in 1D chart it has big bearish candle with increased volumes represents bearish trend in 1D chart but uptrend stock in long time.
FOLLOW ME for...
DIXON FORMS A VERY GOOD ASCENDING TRIANGULAR PATTERN.
AND TODAY IT ALSO FORMS A CLEAR BULLISH ENGULFING CANDLESTICK PATTERN.
FUNDAMENTALLY ALSO IT'S A FANTASTICK STOCK FOR LONG TERM INVESTMENT AND NOW IT HAS A GOOD BUYING OPPORTUNITY.
ALWAYS ADD IN DIPS....:)
BUY : 682 TO 657
TARGET : 837
Reason For Buying This Script :
In this script has formed Elliot way in monthly time frame & in weekly waiting for triangle pattern breakout.
Once it break the triangle pattern the price will go in upward direction. This is good quality script try to accumulate more. Once it break the 837 and close above 837 level in...
So here is an analysis of another index 'SENSEX'. Let us understand price action of SENSEX in detail! (OPEN THE CHART FOR BETTER UNDERSTANDING)
Firstly, if you have a look at the second last (green) candle here, it is clear that this candle was not able to sustain above a major resistance line (yellow line).
Secondly, today the price shot up the major resistance...
Bullish engulfing indicates a surge in buying pressure, often triggers a reversal in trend as more buyers enter the market to drive prices up further. Attractive entry levels can be obtained after receiving confirmation of the bullish reversal. Chart is self-explanatory.