NSE:NIFTY
Nifty was able to hold channel low on Friday and created HAMMER patter at the bottom of channel which is a bullish candle stick patter.
There are high probability of reversal from here.
Buy Voltas with a SL of 511 and targets of 536.3/542. Also do not take this trade if it opens above 533. Suggestion : Buy on a dip so as to get a better risk reward ratio. Adjust your volumes as per the entry price.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy,...
Buy only if NSE:UPL opens below 769 for an initial target of 778.5 . Keep strict SL at 757. Do not initiate this trade if it opens above 774.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns....
1) fundamental:- lower cruid prices reduces tyre industry raw material costing
2) Technical:- Hammer pattern formation in monthly chart
3) RSI took strong support
4) HAmmer pattern formation exactly near trendline
5) today stock gave close 224 above previous month high 223.
See the hammer on chart
Also note Stochastic K line almost crossing D line
Watch price action for few days
Looks like a weak flag pattern too - vertical line + rectangle
in weekly, hammer formed at horizontal support
also hidden bullish divergence seen in weekly,
in daily, regular bullish divergence seen
sl - 193 tgt1 - 220, tgt2 - 250
In longer time frame it is in strong uptrend.
In daily, hammer formed near ascending channel support.
with a sl below the channel support, one may aim for previous swing high, then channel resistance.
![UPL: Long UPL with a target of 778.5 and a SL of 757 [Conditional]](https://s3.tradingview.com/i/ieDFWXwt_mid.png "Long UPL with a target of 778.5 and a SL of 757 [Conditional]")
![ASHOKLEY: {Intraday] ASHOKLEY Hammer + Tweezer Bottom Long Trade](https://s3.tradingview.com/4/4Aqrzg8U_mid.png "{Intraday] ASHOKLEY Hammer + Tweezer Bottom Long Trade")
