POLYCAB is kind of forming Ascending Triangle. Taking early entry is good for Small Stop Loss
This is a good in Fibonacci @ 38.20
20 EMA is giving support
Last 10 days delivery volume is average above 55%
Trendline Support with DOJI + Spinning + Hammer canldes
CMP : 822 (Can buy upto 802 in dips)
Target : 940
SL : 792
Risk Reward is almost 1 : 4
Stock has retraced 50%, A good R:r risk reward setup.
Long above previous candle high with stop at low. If it fails, no issues , i may take SAR trade.
Let's see how it pans out.
~Fear and greed are your greatest enemies
PVR has formed a weekly hammer 3rd week of May 2020 along with confirmation of previous red candle (second week of may)
The current weekly candle is green which confirms and completes the pattern
Once can go positional long on cross of 910 last weekly candle high with stoploss of 815 for a target of 1050 i.e Monthly Resistance
As shown in charts,
Bajaj Finserv formed a weekly hammer pattern, confirmed with previous red candle.
The pattern is confirmed as per 33% body formed and balance Wick.
Now the best way to trade this opportunity is if the current week candle crosses 4440, which is the hammer candle high confirms the pattern
Probable Target is 4740, i.e immediate resistance