A clear breakout of resistance trendline was seen in ban nifty and the index had come back to retest the trendline. The retest also corresponds to 50% Fibonacci retracement.
A pull back from here to 41900 (0.786 fibo) can be expected as a target.
NSE:ASHOKLEY
Ashok Leyland formed a classic cup and handle pattern. Buy range is between 150 - 152. Stop @ 140. Target 1 - 160, Target 2 - 170.
Note: Buy only if the price closes above 150 on a daily time frame.
Disclaimer:
I am not SEBI registered person and this is not an investment advice and also please note this is only for education purpose. Also note we can use this research in my own portfolios. So don't influence yourself from this research. Please note before investing according to this educational research, please do own research and also do take advice from...
Colpal has been consolidating in the range of 1560 - 1585 for the last week and has finally broken out of the range and looks like it might head higher towards 1615/1625 SL can be placed @ 1585
All trading strategies and ideas shared are to be used at your own risk.
AS OF NOW THERE IS NO CLEAR PICTURE IN INDEX MOVEMENT IN DAILY FRAME
NIFTY WAITING FOR SOME EXTERNAL NEWS TO MOVE
TILL IT CONTINUE TO CONSOLIDATE TILL GENERAL ELECTIONS ?
OR WAITING FOR SOME NEWS TO MOVE ?
WILL BE LONG IF NIFTY CROSSED 10780 FOR TARGET OF 10880 ZONE
AS OF NOW THERE IS NO SHORT TRADE FOR ME
Hi
I was looking for a harmonic pattern completion (on the downside) before getting involved in this stock. But the stock changed my bias by breaking above a falling trend line (red) and the cup and handle pattern neckline.
Long Idea
The Risk
For getting into this trade, the risk could be (traditional) low of the handle (162) or the more aggressive 170...
