HINDUNILVR is taking support from its major support line also at the same time it is taking support from its short term horizontal support area.
Wait for up trend confirmation on daily time frame to enter, it can be a good risk to reward trade.
Also if you have noticed , I didn't posted any analysis in the past few days. The reason for this was falling market.
Stock is at its major trend line as clearly seen in the chart.
Look for strong candlestick reversal pattern on daily time frame or wait for small uptrend formation.
This can prove to be a great risk to reward ratio trade with RR minimum 1:4.
Trade only for positional/swing.
Target can be 5% , 10% and 15% as per holding capacity duration.
This chart analysis was...
BPCL is clearly seen taking support from its major trend since past 1 year. It is very difficult to break this trend line. Hence it is good opportunity to go long with small SL.
Tips : This is weekly chart , Use weekly chart for trend analysis. Use daily chart to find proper bullish candlestick reversal pattern on this trend line and use 1 hour time frame for...