The daily chart of USD/CAD has formed harmonic shark pattern AB=CD.
The daily chart has also formed a long engulfing candle.
Also in 4-hour chart a double top pattern has been formed.
So we can expect some profit booking in the counter and a long retracement could be possible.
After a rise from the lows of 277 till 306, looks like Hindustan ZincNSE:HINDZINC has completed the countertrend move and is on its way down again.
With Metal Index looking weak, I can see that the stock price got rejected after retracing 50% of the previous downmove, forming a Bearish Engulfing candle in the process.
Good opportunity to short here with a...
After a pullback from the lows of 537 to 608 , Tata Steel NSE:TATASTEEL seems to be facing stiff resistance around 600 levels.
I can see that it failed to cross the resistance after retracing 61.8% of the downmove, forming a large bearish candle and Evening star like pattern today.
Went short here with a stop loss around 610 levels for a target around 550...
This trade is for intraday basis on June 12.
I can see that M&M NSE:M_M stock price has got nicely rejected after retracing 38.2% of the previous downmove, forming a Bearish Engulfing candle.
Will look for selling opportunities below 912 if available near current levels for a first target in the 897-900 zone.
Disclaimer: Views expressed here are my own, and...
Escorts NSE:ESCORTS has been struggling at the resistance zone around 922 levels.
With a large Bearish candle on 15 min chart, the stock appears to be ready for breakdown.
Good opportunity to short here with stop loss above 922 for a first target of about 900.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice....
After falling from 435 levels, Ujjivan Financial ServicesNSE:UJJIVAN witnessed good buying activity today.
I can see that the stock has reversed after retracing 61.8% of its previous upmove, forming a Bullish Engulfing candle today.
Good opportunity to go long here with stop loss near today's lows for a target in the 408-420 zones.
I had posted an idea earlier about EscortsNSE:ESCORTS on May 8 when it was trading at 989 wherein the target of 911 was mentioned.
(Well, as we can see that target was achieved long back !)
Now looks like the stock has completed a countertrend move on the upside and is ready to fall again.
I can see that it faced a strong rejection at 50% retracement of the...
Titan NSE:TITAN seems to have topped out around 1000 levels and had a swift fall thereafter to make a low of 909.
After a small retracement for 4 days, looks like the downtrend has resumed today.
Today’s candle is a large bearish engulfing candle which wiped off all the gains it had in the past 4 days, indicating a strong selling pressure.
To me it looks like...
New trading suggestion:
*The price is in an up trend and we forecast the uptrend would continue.
*There is still possibility of temporary retracement to suggested support line(0.0000275), if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If the support line at (0.0000275) is broken, the forecast...
New trading suggestion:
The price is in an up trend and we forecast the uptrend would continue.
But there is possibility of temporary retracement to suggested support zone (0.000235 to 0.000187), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.000235)...
Bearish engulfing pattern has been spotted at the top of a rally in heromotoco. Also, there is an immediate resistance at the same level.Both RSI and stochastic have given bearish crossovers. Stochastic lies in the overbought zone.
'Nifty index opened Gap down breaching previous Lows of 10077 and made new low 10049 in near psychological 10000 support area, sustained buying pressure from lows near about 100 point rally up to 10155 recovers Bulls in Action and tried to stand still against bears positively. Bears Tried to drag down Bulls in last Session but Bulls managed to Hold the Fight...
NSE:SREINFRA It is trading in a falling wedge pattern and about to breakout upwards.
A valid Inverse Head & shoulders pattern has been formed and also the last two candles form Bullish Engulfing pattern.
Confluence of all these factors suggest for long positions .
Longs may be taken at current levels with tight stoploss below 100 or once it breaks the trendline...