Inverted head and shoulder pattern in Nifty We can see inverted H&S pattern in nifty with good risk reward ratio. If tomorrow on 8th feb 23 market breaks the trend line then just after the breaking the level of 17780 we can enter into a long trade. Target 1850 stop loss just below the swing low.
Hope for the best👍💯
Happy learning
Longtrade
HINDALCO LOOK GOOD FOR LONG (1:17 R:R)hindalco, good for long with very good risk reward of 1:17, you wont get this type of RR easily.
entry- 386.2
stopped- 379.5
target - 494
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#BSE hammer candle in weekly TF, RSI breakout in day TFBSE has made hammer candle in weekly TF, 540-553 will be great place to initiate long trade which will provide low risk and high reward setup. Also on daily TF RSI is about to give breakout from its falling trend line(on day TF, connect trend line from high's of 8th Sept,27th oct, 4th Nov, 25th Nov).
2 options
1) Enter once price close above 587, targets 1) 642 2) 671 3) 700 4) 742
2) Wait for 540-553 then initiate longs targets will remain same as above
SL in both cases will be 526 daily closing basis
Astral AnalysisAnalysis Parameters- Trend Line,20 SMA, 50 SMA & Bollinger Bands
M TF- Took Support on 20SMA
W TF- Bullish Candle on 20SMA
D TF- Closing just below 20SMA (20SMA at 2091; closing at 2086
H TF- Above 20SMA
For long trade,
wait for the breakout over on daily TF over 20 SMA
T1- 2136
T2- 2204
For Short Trade, below 2064
T1- 2012
T2- 2000
T3- 1950
Keep a trailing SL on either side