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Engulfing Candle

3 Drives on Bottom : Good Risk to Reward The stock has formed 3 Drives on Bottom pattern and is in deep oversold zone. It has formed bullish engulfing showing a potential reversal therefore one can go long at this level with the recent low as Stop Loss. One can expect the 68 as target. It offers a healthy risk to reward ratio of 3. The defensive trader should wait and enter once it starts trading above the Engulfing Candle, which means risking more and RR ratio of 2 but better chances. So decide on your risk preference. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:YESBANKLong
by praveen.bhatiya
Short BataIndia Jan FuturesAfter a sustained uptrend BataIndia looks weak at top. Stock after touching 1163.65 (which is 100% Fibonacci extension from the SPL of 1075) looking set to reverse its trend. Its giving divergence as per stochastic and all set to test 1138/1126/1114/1097 levels on near to medium term. Today also stock tested 1138.7 which is its 38.2% Fibonacci retracement. Its good to short between 1153-1170 levels with a target of 1126/1114 with a stoploss of 1177 on closing basis. Its strongly advised to hedge the positions to reduce risk on your portfolio.
NSE:BATAINDIAShort
by TradersVenue
Parallel Channel/Engulfing Low risk tradePrices 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 Entry 431 SL 408(closing) Target 492 Risk/Reward Ratio 2.65 Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:LICHSGFINLong
by praveen.bhatiya
2
Infosys - Trendline rejectionInfosys 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 my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:INFYShort
by nano6yogesh
1
NIFTY - WHO WILL GET BURNT THIS DUSSEHRA- BULLS OR BEARS?THIS IS THE FOURTH PART OF THE ANALYSIS ON NIFTY -1.24% 2.32% FALL. IF YOU NOT READ THE PREVIOUS ONE 3 POSTS, PLEASE READ THE SAME FOR BETTER UNDERSTANDING. I HAVE ALSO SHARED ITS LINK BELOW. Some Lines I said in the previous post “In the process to up,There has been 2 Gaps created in the past downfall and crossed 2 Fibo support (Mentioned Below) which will stop the market from going up. Resistance 1 - Gap 1 - 10520-10550 Resistance 2 - Fibo Resistance 38.2 - 10650 Resistance 3 - Gap 2 - 10750-10850 Resistance 4 - Fibo Resistance 0.5 - 10860 The Above 4 levels are going to act as major resistance. Even after being optimistic, I do not feel market will be able to cross Resistance 3.” Nifty preached the levels. The first 2 resistances were broken. However the market reversed from the 10700 Levels. It fell a huge 260 Points to close at 10453. FII Data suggest they have only closed 10% of their Index shorts. If 10% can bring so much carnage, what will the remaining 90% do? These resistance levels are going to be the same. Although Resistance 1 is not all that strong now. Candles Formation The last 2 day candles have created a Bearish Engulfing pattern, which an extremely effective bearish pattern. A Major Gap up closing below yesterdays Low shows the sentiment of the market is really not good. Important Event 1. Reliance result – It was announced this week and it was not much good. We can expect some downfall. 2. HDFC Bank Result – To be announced 20 Oct 2018. While Reliance is looking for a Fall. Bad Result of HDFC Bank can impact Nifty badly. Reliance and HDFCs together hold heavy weightage in Nifty and can show us a new low of this series. As i already shared Pullback are short term and short lived. Thus, it was a pullback of 2 days and Bears again came in the driver seat. on Wednesday. Also these pullbacks gives good level to again short the market. Please also note : FII even after covering have 90K Shorts. The fall can be deffer-ed but is certain to come until FII decide to cut their shorts in losses. (which never happen :P) Support Levels Support 1 – Fibo Support 38.2 - 10350 Support 2 – Trendline Support - 10240 Support 3 – Historic 10160 Support 4 – Fibo Support 23.6 – 10000 The Bulls might get roasted this DUSSEHRA and DIWALI. 10K seems near. These are just my thoughts, and my view to the things going around. I hope it Helps. All counter views welcomed if they intend a fruitful discussion. And If Warren Buffet says he still learns, who are we to say or believe that we know all. Lets learn together and Earn together.
NSE:NIFTYEducation
by prathamaggarwal
4