Indiacem Formed Lower Low - Can it form Higher High?
Its in High Volume Node and Increased volumes are pretty juicy. So a good bet for long term traders.
Note: Always don't depend on just price action. Apply Volume Profile, it gives you a great insight in to how price is moving to find a new value area
Hi Guys,
There is an opportunity of swing trade in Jain Irrigation.
Buy: 85.8
Target: 99.8
Stoploss: below 79.8.
Reward/Risk Ratio : 14/6 = 2.33.
According to the Fibonacci extension, the 3rd wave should be around 1.5-1.6 times bigger than the 1st wave, which leads us to around 99-101 levels.
This stock is at a major support of 490. It is showing signs of downtrend reversals with divergence and bullish candle pattern. On upside levels to watch are 519,532,555. If all of these are crossed this stock has the potential to give targets of 650 in short term of 2-3 months. Go long with trailing stoploss.
Market breadth is not supporting nifty up move. See nifty underlying asset(HDFC BANK, RELIANCE, ex50) VOLUME AD and NIFTY Advance and Decline of underlying stocks. There is a huge fear in market due to - See INDIA VIX
Don't just rely on chartist's, ask yourself some fundamental questions. For Day trading use Breadth tools(Market Internals) to see the inside ...
IFCI at HVN Support, Close Above 17.5, can buy for a target of 21.5
Volumes greater than 5 Day SMA Volume
SL 16
*** Don't just depend of price action, its always good add a fundamental angle to trading :). Volume Profile gets you that.
Hi Guys,
From last from last 1 month, we have seen a nice bull run and it broke the previous which is a nice thing. But what next???... Let's find out.
In my last post about nifty, I actually miscounted the waves(couldn't differentiate the 3rd and 5th wave) but now it is clear, at least for now.
That's the difficult part about the prediction with only chart ...
NSE:JUBLFOOD takes support around its 50DEMA which is at 1360.... so i will go long around 1360-1370 with stop loss of previous swing low which is 1250.......
aggressive trades can keep Sl at 1340
NSE:KPIT is trading around its 20DEMA at 285... i have purchased half qty at 285.40 ... will average at 275 (50DEMA) with stop loss of 260 (below previous swing low)... target is 300++ within a month
NSE:BPCL is trading close to its 50EMA on monthly charts which comes around 362.....so i will look for short opportunity if closed below 360 on weekly chart......
Minor Count - White
Minute Count- Yellow
Minuette Count- Blue
The chart is shared Just for purpose of education and feedback Hence no trades or levels for trading have been mentioned.
NSE:M_M
NSE:RBLBANK ...looks good ...one can buy half qty around 565 with strict stoploss of 530 as it may reverse from here ......but once it closes above 600 add other half ....sky is the limit....watch out
NSE:SBIN is coming down from 280 which is its weekly resistance and closed below its daily support of 260 ......looks like it will come down to 240 which is its monthly support.....will will look to short next week.
