(Swing / Positional Trade) | RR 1:2+ | Type:- Triangle Pre Breakout
Reasons To Trade🤔 :- Above 200 DMA, Stock In Uptrend, Forming Triangle Pattern, Last Candle- Bullish Pinbar (Hammer).
Entry :- 2300 - 2325
Stop Loss :- 2238
Target :- 2500 (It Can Give More) Depends On Market Condation.
(Risk Must Be Managed.)
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The stock is now at the base of the channel. The W pattern indicates trend reversal. The hammer candle is a clear indication trend reversal. Confirmation of trend reversal is when it crosses the previous high. Level given below :-
Buy above 515.55
A Multi-time frame analysis also indicates trend reversal. The analysis is given below.
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
There is a strong support found around 365 and it formed a hammer like pattern not allowing the price to go below 365. Fundamentals are also looking good. We expect the stock to shoot upto 450 levels. Place the stop loss below the support level 365.
after a long down trend jindal stainless is attempting to reverse the trend , on its previous two attempts in the near term it has failed but this time it has shown a strong bullish sign with a hammer candle following with the confirmation gap up bullish long candle , time to go for LONG in this stock
it also tries to form a head and shoulder pattern with the...