The hourly candlestick chart of WockPharma forms a parallel channel, which creates a suitable long position opportunity with a 30% expected return and a Return-to-Risk ratio of 3. The RSI also shows a value of 29.
Axis bank broke out of a trend line which it has been holding since May and taken a retracement. Possibility of down trend.
Reason to short:
1) Major Breakout in daily time frame as well.
2) Multiple Retracement ends up in downwards momentum (M-Pattern Formation: Showing down trend as well).
RR ratio should be calculated and trade should be taken accordingly.
Sellers fail to bring down SBIN 3 times denote's pressure from the bottom to push up.
Reason to buy:
1) Trend Line breakout
2) Buying pressure from bottom
Next best entry will be after retracement i.e after 201.60. Stop loss will be below intimidate swing i.e below 197.00.
RR ratio should be calculated and accordingly trade should be taken.
Keep an eye on balkrishna industries as it is has broken inverted H&S pattern + it is at the crucial zone of support in daily time frame.
Reason to Buy:
1) Formation of inverted H&S pattern.
2) Taking support at crucial support zone in daily time frame.
Next Safe buying spot would be at 1287.00 levels. Stop loss should be at 1246.15 levels.
Take trade by...
their is a breakout in jubilant food works i have been tracking this stock for few days now and waiting for this breakout to take palace.
Best stop loss would be below the immediate swing that is at 2240 levels.
Trade with calculated risk, next best entry after retracement at 2319.
Hello Trader, Here is the full analysis of AUDHKD:
1) On 1hr chart we can see it as formed Crab pattern and possible reversal expected.
2) Price is moving toward strong resistance zone and can test this zone for up move and if it fails then on basis of crab one can look for short.
EM200 - above 200 ema
RSI (14) - 66
ATR - high...