TATA STEEL - Bearish Engulfing Pattern at resistanceSimple Chart with strong implications -
- Resistance
- Bearish Engulfing Pattern
- Volume Confirmation
- RSI oversold
Engulfing Candle
TechM - Bearish engulfing pattern at resistance Disclaimer - Risk cannot be separated from reward, unlike humans they are loyal to each other.
Tech Mahindra has made a bearish engulfing pattern today on daily charts with volume confirmation (volume on the engulfing candle was higher than previous candle and average volume), the pattern is at a channel resistance. This can be shorted with SL 648.25 and target 551
Sell DIVISLAB 1) The stock is in downtrend
2) There is an bearish engulfing pattern
3) Risk Reward is highly in favour
LICHGFN - Bearish Engulfing + Fib RetracementThe stock made bearish engulfing pattern from the 0.786 levels and seems bearish to retrace to the stronger 0.618 level of 265.
Choose an entry position based on your risk appetite.
Strategy 1: 'High-er' Risk & High RRR
In-case of normal or gap-up opening, Short for 270, 267, & 265 with SL at 278.
(Can wait for any small uptrend with the risk of losing out on opening downfall)
Strategy 2: 'Less' Risky & Low RRR
Short below 270 for 267 & 265 with SL at 274
In case of gap-down opening - Wait and Watch.
Double top formation is seen in ITC. Short ITCDouble Top formation is Seen in ITC.
Closed with a Bearish Engulfing pattern.
According to me ITC will go Down today.
Short ITC, might be the best trade option for today.
It's just my personal analysis so do your own and I don't recommend anybody to Short It as it is just my analysis.
Nifty : Completed the Diametric Pattern Nifty has completed the Diametric Pattern as per NeoWave analysis.
Nifty has also completed retracement of 61.8% of the entire fall which started on Jan 20, 2020.
The daily chart shows a reversal warning with an Engulfing Bearish Pattern.
Any fall below 10000 will show very strong bearish moves in Nifty.
Thus B wave of the correction seems complete and we should tighten our seat belts for an eventful C wave.
BULLISH ENGULFING IN MANAPPURAM FIN BTST TRADE IN MANAPPURAM FIN
BUY@157.75
STOP@154
TARGET-1@162
TARGET-2@166
CANBK SELLSELL canbk below 108
with stoploss 119
for target 100,92
result is also bad so it's good conformation
SBI Breaks - Negative Trend - Step into Green Fundamental View
After announcing Q4 result SBI jumps up to 5% and 8% with in a day.
Net profit jumps to Rs 3,580.8 crore in the January-March quarter compared to Rs 838.4 crore.
(Net profit includes a one-time benefit of Rs 2,731 crore from sale of stake in SBI Cards & Payment Systems.)
SBI’s asset quality improved over this quarter(Q4).
Technical View
Technical chart also looks green for SBI.
Price level Crosses 50MA.
Breaks the downtrend channel.
Bullish engulfing candle on Monthly chart(Candle not closed yet).
Very high Volume.
My trading system gives long on SBI.
Follow your system and Trade/Invest accordingly. Be safe and use opportunity.
Disclaimer
This idea is only for educational purpose. Do analysis before investing or trading.
Thank You
ArunPrakash
Trader
CIPLA on a roller coaster ride downCIPLA has become an excellent candidate for a short trade. Along with an RSI divergence, the stock has made a bearish engulfing pattern in 30 min chart. Short CIPLA with a target of 640.
Buying opportunity in dabur 13% upside..!!Bulish engulfing pattern in dabur and chart looks strong we can expect 13% upside in very short term.
AMARARAJA BATTERIES BEARISH ENGULFING SHORT@653-658
STOP@671
TARGET-1@635
TARGET-2@620
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
Banknifty - Bearish EngulfingTrend is Bearish as per moving average MAY expect pull back up to 18300 to 18450 then wait for confirmation to move further down (based on candle) up to marked levels.
BEARISH ENGULFING FORMED 4HR BASIS
**Educational purpose only
[INTRADAY] M_M: Bearish Engulfing Bearish engulfing near high of the last swing could give good intraday movement. Avoid gap up/down.
*M_M is overall bullish, won't hesitate to buy if high breaks.
Updated: Upside gap two crows followed by shooting star
This is an updated chart of NIFTY 50 (with reference to my previous chart)
Upside gap two crows
16 April 2020: It was a bullish candle. (Continuing the bull trend)
17 April 2020: Gap up opening but ended the day with a bearish hanging man pattern.
20 April 2020: Opening was at 9390, i.e more than closing of day 2. It made a bearish engulfing pattern.
22 April & 23 April 2020: Gap was filled (I referred it as retracement in my previous post)
24 April 2020: Shooting star pattern
Price Action
Formation of rising wedge pattern
R1 & S1 are short term support & resistance. (Based on Fibonacci)
Conclusion
Trends look negative in the short term.
Hanging man with bearish engulfing - Candlestick
17 April 2020: Hanging man candlestick formation.
20 April 2020: Bearish engulfing Candlestick formation.
21 April 2020: Gap down opening - signifies strong sellers
Probable support @ 8500 & 9100 has strong resistance (Refer option chain)
Fibonacci Retracement : A:B:C
Note: There will be some retracement but the overall trend looks negative for short term.
Cadila Healthcare (4 hrly chart)1. Taking Resistance at trendline.
2. Bearish engulfing Chart pattern.
3. Negative divergence on MACD
MINDtree.... gap..hammer..free fall.!!!!!!!gap resistance near 855-881... resisted near the gap .. mdade the hammer and free fall today... below 855.. may slip to 820--800
