Analysis: It has formed a flag structure after an impulsive move, cmp can be shorted for target 1674/59/42 (intraday/swing). With stop 1708. Thanking you, Kalpana Burman Disclaimer: The data and information provided in this published idea is not an advice and should not be relied upon as such. Neither the information, nor my opinion contained in this...
Currently nifty has made bearish engulfing pattern on daily frame exactly at 0.618 retracement from its high of 12430 approx on 20th jan2020. Also RSI is poping up hidden divergence at 0.618 retracement... When we apply Harmonic pattern AB = CD we get D point at 5680 approx...as reversal zone. So traders be careful... choose to sell on rise only
Up Trend line will decide the next major move.
_ Clearly in an expansion channel _ I don't wanna say anything else _ If you buy this now, it'll be a good decision
_ Vedl is in the consolidation mode right now _ You can clearly see consolidation happening if you check the 15 min time frame _ If it breaks up, that'll be a clear shot bullish trend _ Let's hope that it'll be a bullish breakout
* Since the rsi and mfi are the overbought levels and also it is a clear uptrend * High possibilities are there for the script to be bullish * If the market starts positively then idea will continue moving upwards
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Glenmark - Hidden bullish divergence
- Self explanatory & Annotated Chart - Key Levels are Marked - Enter at BO level @ 1340 - Exit at Target level @ 1445 , approx 7-8% upside - Time Frame is few Days - Stop Loss level for Risk as per your choice also mentioned - High probability setup based on AVWAP Study + Multi Time Frame + Pattern + RSI - Stock is Bullish on all time frames for a Mean Reversion...
setup correlates with bearish regular divergence ,double top, and then rising wedge
Has very good multi year support around 750. Look at the volumes when it traded at 750. Also there is a RSI positive divergence. 750 should act as very good support, I entered at 750, and Planning to add more at 612 if it goes to that limits. Very good bet I believe, should give 10-20 percent returns in no time I know I am a bit late here in publishing the idea,...