can go long for 1160 1180 For targets of 1160 1180
bullish on the stock as despite selling in all counters the stock was successful in holding 1125 levels!
J-OIL
Classical Rectangle Pattern !The stock is moving in the Rectangle nicely so one can buy at the bottom and reverse the trade in case it does not sustain and breaks out of the channel.
reliance , for next couple of days ! will like to go long in reliance for targets of 1027 ! still a good upside i see in the stock but keeping a stoploss @ 949...
n e w y e a r t r a d e idea will like to go long in BPCL on monday as see it as a low risk but good return kind of stock . corrected enough , possibly i might go 100 % correct
reliance....trade with patience!!!reliance has to give a pull back ..if it fails a downslide in nifty can be observed
IOC wedge, support ~390, under pressure oil pricesIOC is taking a support at ~387 thought difficult to get a actual support line. But based on the chart this was a Resistance level and now is acting as support. For the short term the tops are getting lower and lower. The wedge formation has to end. the wedge started with a upward move hence it should move up once the wedge is over. Also rising oil prices is keeping this sector under pressure. BSVI fuel subsidy /incentive if announced for the oil companies we can see a upward to 450 levels.
DEEP IND - Recovering StronglyIt has been observed that the price action corrected sharply from the 340-320 levels and deeply went down to the previous support zone at 200-210 levels where now buyers coming and volumes increasing. Overall, indicating an upward move ahead. It is a sound company fundamentally with profit growth of 43% for last 5years. Currently, trading at low P/E.
T1- 270 (16%)
T2- 310 (33%)
SL - 200 (14%)
OIL India is short here.Stochastic @ overbought level. Now Bearish engulfing candle. Short with stop loss of 10 Points (315). Target first band & second band(285/262). Good Risk Reward ratio.
OIL breakdown from short term support OIL price action has given a breakdown from short term support at 277, retesting the support level target for 268 and 264 keep stop loss above 284.
OIL INDIA LTD- ASCENDING TRIANGLEOIL creat ascending triangle pattern and now perfectly breakout with huge volume so Buy stock here with sl of 264 target 281 in cash.
Bullish AB=CD Pattern on USOILBullish AB=CD Pattern on USOIL and MACD on bullish crossover on bearish trend.
Trade:
Buy above - 44.40
Target 1 - 44.93
Target 2 - 45.44
Stop Loss - 43.90
ONGC - Bullish Harami Cross Pattern A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock.
It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A red body is observed on the first day.
3. The Doji that is formed on the second day is completely engulfed by the body of the first day.
The outline again looks like a pregnant woman, as with the Bullish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a red body followed by a Doji that is completely inside the range of the prior black body.
The price should close above at least 50% of the red body which in this case comes at 185.6
Target: 190 / 196 in Short term and 219-241 in Medium term
Stop Loss can be placed just a tad below the low made on either of the 2 days (a couple of points below 183 which is the low formed on 30-Mar-2017).
Risk::Reward Ratio is at 1 :: 3.66
Take care and safe trading...!!!
Short Oil short term for target of 49.40Oil is showing signs of exhaustion on 30 mins chart at current levels of 50.13.
Trendline break plus negative divergence on RSI makes it a good short term short bet for target of 49.40.
Keep strict stop loss @ 50.55
Earn while Learn Complex Head & Shoulder TOP patternOIL is a beautiful example for the aforesaid pattern except its up-sloping Neckline as pattern with near Horizontal Neckline performs better. The pattern looks like normal head-and-shoulders except either with multiple shoulders or multiple heads but rarely both. It performs better than normal Head & Shoulder and trading rules are the same.
Wolfe Wave Divergence SHORT !Beautiful Wolfe wave trade with good Risk to Reward ratio may give a good start for the NEW YEAR 2017 for my trading mates. Wishing you all to be prosperous.
USOIL Breakout Strong Resistance - LongUSOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level.
It's a short term recommendation.
Trade:
Buy above = 51.70
Target 1 = 56.60
Target 2 = 61.05
Stop Loss = 45.00
Total Reward Points = 9.35
Risk Points = 6.7
Oil India - Ready for rallyAn inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
Crude Oil Wait 4 Confirmation Buy SideCrude OIl Weakly Chart Show
Head And Shoulder Pattern
Trade Only
Close Above Neckline
Storg Up Move Crude Oil
My side Target
$61...
$66...
$73..
HAPPY TO HELP
