The stock is now at the base of the channel. A rejection candle is formed in the daily timeframe indicating a bullish trend reversal from here.
The hammer candle is a clear indication trendreversal. Confirmation of trend reversal is when it crosses the previous high. Level given below :-
Buy above 515.55
Avoid the stock if a big gap up or gap down is...
Adani Port is taking support of Fibonacci levels after a steep downfall and formed two bullish hammers on the daily and a strong support on 4H. This looks ripe for an upside move.
Apart from being technically sound, it is also in a good position to take part in the part of Indian Railways that is prime for privatization.
This makes it a double whammy....
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