DelhiveryThis stock has given good breakout on daily time frame along with positive divergence in RSI along with macd positive crossover.
Also possible Elliott wave counts are suggesting same bias, one can go long with strict stop loss of swing low of 289.90
Overall chart along with possible Elliot wave counts
macd positive
rsi breakout and rsi positive divergence
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Macdpositvecrossover
KAJARIA CERAMICS CHART PATTERN ANALYSISKajaria ceramics has formed two pattern which are very strong and bullish patterns in nature.
The only difference is the time-frame
It managed to form "Double Bottom" on daily chart(strong buy)
It managed to form "Ascending Triangle Pattern" on weekly chart(positional long call)
I am happy to see that the price has broken out of both these patterns in the same week
Plus momentum indicators such as "RSI" and "MACD" have given confirmation and have gained strenth
Stock is now bouncing constantly from its moving average
We saw price break above 740 for the first time(on closing basis) since 14 month(0ct-16) on weekly chart
WHAT DOES THIS INFORMATION TELLS US?
"It tells us that the price is about to enter in a new uptrend because previously at these level "DEMAND WAS MET BY SUPPLY"(bears were in command from 744 levels)
and now "(GREATER)DEMAND>SUPPLY" so we have eventually seen the stock breakout from 740(bulls are fighting hard)
Now at this level bears will still fight and will try to set a trap but since the level is broken we will see short covering in the market which will pump up the market.
TRADE VIEW
SHORT TERM TRADERS....
BUY @750
STOP @735
TARGET @770-790(WILL TAKE TIME)
LONG-TERM TRADERS
BUY @750
STOP @700
TARGET @790-815-835(NEXT TWO TO THREE MONTHS)
!!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH OUT FOR BTST/STBT IDEAS @ 3:15!!
!!EVERYDAY!!
!!SOON GOING TO START 9:20 CALLS IN THE MORNING!!
!!EDUCATIONAL IDEAS ONLY ON SAT/SUN!!
FOR BUSINESS PURPOSE CONTACT
MANAV KHANDELWAL bfm,CMT.level-2,Cfa level-1(candidate)
TECHNICAL ANALYST
FULL TIME TRADER
manavtechresereach@gmail.com
FOR PREMIUM CALLS
For tech queries please mail me and questions will be answered by weekends....
!!NIFTY POSITIVE BUILT-UP!!-The index managed to sustain the gap-up which we saw and the result was we have a break-out of the flag pattern which i have already explained in the previous educational chart
-Now looking at the indicators 1)RSI ITSELF HAS SHOWN BREAKOUT OUT OF THE FLAG PATTERN
2)MACD HAS SHOWN POSITIVE CROSS-OVER
3)ADX HAS SHOWN POSITIVE CROSSOVER
- There can now be two outcomes that:-
1)The index will close the gap-up distance and trade on the negative side and will confirmation whether its a flag or a descending channel.(highly unlikely)
2)The index will manage to show another strong gap-up which will shown further strength the index will lead to higher levels and will give confirmation of flag pattern.
(most expected due to gujarat election result)
NOTE:-
DUE TO HOLIDAY SEASON THE INDEX MIGHT SEE SUBDUED MOVEMENT DURING THE LAST TWO WEEKS ANYWAY IF THE ABOVE THING TAKE PLACE WE WILL SEE HIGHER LEVELS IN THE COMING MONTH.
TATA STEEL FLAG PATTERN BREAKOUT TRADE-stock managed to break-out from its flag pattern on 19th dec
-it also found new support @50-dma (700)
-macd has shown positive crossover
-rsi is shown momentum
-it looks like we will test 730 before we enter oversold zone
PLEASE LOOK IN THE CHART BEFORE INVESTING.....
-
!!MAHINDRA MOTORS POSITIVE BUILT-UP!!1)MONTHLY CHART
-The stock managed to close above its previous crucial resistance zone
-we saw a pennant breakout
-macd turned positive
-rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months
-if the stock manages to close above 1478 on monthly basis then we will achieve higher levels
MONTHLY TRADEVIEW
BUY @1480
STOP @1430
TARGET @1580-1660
ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS
2)WEEKLY CHART
-on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016
-rsi has gained strength
-macd has shown positive momentum
-we saw a symmetric triangle pattern on weekly chart
-we saw a symmetric triangle-breakout
WEEKLY TRADEVIEW
BUY @1478
STOP @1430
TARGET @1530-1550-1580
TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE
3)DAILY CHART
-rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone
-macd has shown positive crossover
DAILY TRADEVIEW
BUY @1478
STOP @1450
TARGET @1508