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...
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 has to give a pull back ..if it fails a downslide in nifty can be observed
IOC 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...
It 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...
AVOID BPCL IN NEAR TERM
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 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 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 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
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...
Oil 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
OIL 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.
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.