It gave earnings gap up on 16 nov. Its also BGU (buyable gap up) setup by Gil morales.
Volume is 700% above avg which is just too much.
On friday, held the BO line giving a pullback buy.
So, high probability setup.
ITC is holding up quite firm. Stock was in uptrend all the way till August.
However rally has been seeing exhaustion and stock is consolidating in a narrow range between 50 and 200 EMA.
Consolidation usually leads to big moves. Directions though are not specified.
50 EMA is strong support whereas 200 EMA is strong resistance.
Stock is respecting the trend...
It is satisfying all the rules which we follow to take a trade :
1. Always buy/sell with the trend.
2. Always wait for the last kiss/breakout.
3. Always buy the second candle after retest.
Please follow the stop loss as intraday is all about minimizing losses and maximising profits !!
Feel free to follow me on Quora (Jago Niveshak) for daily calls and...
found this stock on scanning for SUPPLY ZONE,
there is a big move made by the financial institution ,hence forming this SUPPLY ZONE, its aligned with higher time frame, and the zone is testing for the first time so its fresh , giving us a PROBABILITY
i will not go long on this stock , buy will definitely SHORT this stock.
if sustains on 474 must be showing 500-502
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Do check out previous charts and setup. Latest nifty levels. :)
I HAVE FOLLOWED IBULHSGFIN FOR OVER 6 DAYS AND NOW THE STOCK IS PERFECT CANDIDATE TO STRADDLE .... AS THE IV PERCENTILE IS 98 WE CAN NOW SELL AT THE MONEY CALL AND AT THE MONEY PUT TO TAKE THE ADVANTAGE OF HUGE VOLATILITY CRUSH ......... I WILL SIGGEST TO BUY IT AND KEEP IT FOR ATLEAST 10 DAYS .....TO GET A HANDSOME RETURN ...AND IF YOU WOULD LIKE U CAN EXIT...
As it sees it forms a descending triangle in 30 in time frame + volume + rsi + at a fib .38% level on a daily chart + having long trend line support as well.
For Day trader - Buy above 219 stop loss 216 TARGET- 222 224 228.
For other trader- buy above 220 stop loss 205 TARGET- 230 240 250. In a case of downward breakout initiate buying in the range 206-211 stop...
HDIL has made a cup with symmetric triangle formation ...and somewhat at bottom trendline, looks like a double bottom...
If it gives breakout and crosses the resistant line then we may see big upside....
Short term target are 92/95
I will update longer target if breakout happens.. :D
Note: Do your own study before making any position...