Stock should have bounced after touching lower channel line but fibonacci retracement level of 61.8% is acting like strong resistance. For me stock becomes potential buy if it breaks 61.8% level, lets hope so.
Marked swing Points, trend lines and Fibonacci level can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
Invest your capital at your own risk.
Formation of a descending triangle, in case it breaks the neckline, i.e. closing below 1135, Sell: 1134, Sl:1200, Target: 1000. Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
JUBLFOOD STANDING ON STRONG SUPPORT @ 50 MA ON 1 DAY CHART.
UNTIL AND UNLESS ITS BREAKS 50 MA SUPPORT WITH HIGH VOLUME IT WILL TAKE THE SUPPORT AND
AND STUCK IN A RANGE BETWEEN 1440 AND 1456 IN 5 MINUTE CHART. UNABLE TO BREAK 1440 A STRONG SUPPORT
No naked trade. Use strategy
Buy 1700 call , Buy 1700 put .
Buy 1700 call , sell 1850 call .
Buy Dec future , sell 1700 call.
Lot size is 500 ,
Manage risk : This stock has high movements (around 80-100 rs),
so even lot size is less ,big price movement gives high risk.