ONGC BUY signal , Rectangle pattern , Trading is all about skillI will go LONG on ONGC because:
1) The price is forming a Chanel or Rectangle Pattern .
3) The price is also under Support/Resistance zone.
4) It has touched the support and may reach the resistance zone .
5) Target would be the Resistance area . Book profit when it reaches the resistance zone .
Entry - 74
First Target - 84
Second target - 92
Stop loss - 70
Equityanalysis
NIACL BUY signal at 113I will go LONG on NIACL because:
The price is taking support at trend line.
It has touched the support trend line again .
So will look at buying opportunities.
If it falls below the support trend line then short it.
Entry - 113
First Target - 121
Second target - 135
Stop loss - 105
HDFC BUY signal at 1724I will go LONG on HDFC because:
The price is taking support at trend line .
It has touched the support trend line again .
So will look at buying opportunities.
If it falls below the support trend line then short it.
Entry - 1724
Target - 1923
Stop loss - 1680
ICICIBANK forming a expanding channel BUY signals at 369I WILL LOOK AT BUYING OPPORTUNITIES AT ICICIBANK because :
It is forming a continuous channel pattern.
It is kind of expanding pattern .
It has been taking the support of the lower trend line .
Now the price is again at its support level so will be looking at buying opportunities.
Entry : 369
Target : 416
Stop loss : 346
POWERGRID Buy signals at 172I will buy POWERGRID because :
It has been taking support at the trend line .
It has touched the trend line a few times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the trend line downward then look at shorting opportunity .
Entry : 172
Target : 191
Stop loss : 166
TATASTEEL short signal at 400 I will short tatasteel because :
It is facing a strong resistance at the trend line.
Its not been able to break that trend line.
The price is again at the resistance trend line and may fall.
If it breaks the resistance trend line then we will be looking to buy.
Entry : 400
First Target : 320
Second Target : 280
Stop loss : 440
SHORT Short signal Kotakbnk at 1306 , Rising wedge pattern breakEntry - 1306
First target - 1270
Second target - 1234
Third target - 1158
Stop loss - 1338
I will short kotakbnk because :
1) It is forming a rising wedge pattern.
2) The price has given a breakout from the rising wedge pattern.
3) The breakout is downards so will short kotakbnk.
What Nifty’s chart say now?On 6th March 2019, Nifty break its strong resistance of 11020, now it move towards its next resistance wall of 11120 & 11250 if in upcoming 3-4 sessions(Specially Weekly Closing) it closes above these levels then it clearly move to break its old High of 11760 which needs energized fuel to pump up. So what are this energized fuel? No comments on that time will clear that picture.
Important to keep in mind for Bulls is wait & watch the levels of 11120 & 11250. For Bears, Its not a good time to enter but if till Friday close it below 11120 then just short Nifty with a stop loss of closing above 11250.
NOTE:- Nifty levels mentioned are only for Spot.
Utsav Babbar