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LONG in GLENMARK on NSE (INDIA)This is weekly chart of GLENMARK on NSE (INDIA) with CMP @ 665.55. It looks a good opportunity to take a long position in the scrip based on following observations: 1. Support zone has been marked on the chart where price has taken support multiple times in price band of 505-602. Now, the price has come out of this band indicating reversal. 2. It is also observed that price has shown reversal after retracing to 61.8% on Fibo against major bull run from March 2009 to Aug 2015. 3. Trendline drawn on the chart also shows multiple support as marked by arrows. The trendline so drawn also coincides with 61.8% retracement level as mentioned in the preceding point no. 2. 4. However, it may find some resistance in price range 710-715 as marked on the chart but price actions suggest that this resistance should not prove major hurdle. 5. Stochastic RSI is indicating oversold status with bullish crossover as marked on the chart. In view of above, it looks a good positional long opportunity with stop @ 578 (swing low) with target @ 950 (major resistance above). Happy trading.....
NSE:GLENMARKLong
by DEVERAMA
LONG in MINDTREE on NSE (INDIA)This is weekly chart of MINDTREE (CMP @ 834.60) on NSE (INDIA) which looks good for a long trade based on following observations on the chart: 1. A horizontal line drawn on the chart has acted as resistance during April 2015 to Jan 2018 till price broke out of it on 19th Feb 2018 (marked by arrows). Now, the resistance line has turned into support as indicated on the chart. Price after deep correction has once again tested this support and showing reversal. This support line also coincides with key retracement level of 50% on Fibo as shown on the chart. 2. Stochastic RSI indicates bullish crossover in oversold zone. Therefore, it looks a good long trade with stop below the current candle on weekly chart with immediate target of 935 (resistance above). Happy Trading....
MLong
by DEVERAMA
LONG in LT on NSE (INDIA)This is weekly chart of LT on NSE (INDIA) with CMP @ 1295. It looks good for a long trade based on following observations: 1. Trendline drawn indicates that it has been tested thrice which establishes as strong support (shown with arrows on chart). 2. Similar formation in previous occasion in Jan 2017 as marked on the chart that it's likely to behave in similar bull run now. It was oversold then like it's now. 3. It is oversold on STOCHASTIC RSI as marked on the chart. 4. Support @ 1182 and resistance @ 1370 have been marked with horizontal line on the chart. Hence, resistance could be immediate target (1370) and stop @ 1180. However, possibility of it going past resistance is quite high and hence SL may be trailed to take advantage of upcoming bull move. Happy Trading!!!
NSE:LTLong
by DEVERAMA
LONG in TATAELXSI on NSE (INDIA)This is weekly chart of TATAELXSI on NSE (INDIA). It looks good for a long trade based on following justification (CMP @1036.65): 1. Refer the trendline drawn on the chart which has been tested thrice shown by arrows which establishes it as good trending support. 2. Prior to rising this week, it has consolidated for two weeks. Also a bull horns may also be witnessed (8th Oct & 22nd Oct 2018) 3. It is oversold as marked on Stochastic RSI. It is also observed that reversal signal accompanied with similar situation, has been reliable. 4. Although current weekly candle is not yet closed which is however likely to close in green with bullish kicker formation. 5. Bullish divergence can be observed on Bollinger Band. 6. Immediate resistance lies in price zone 1123 to 1150 zone which is drawn on the chart based on price action while support is at 950 (as drawn on the chart) In view of above, it looks a good scrip to be in long to ride the upcoming trend with trailing stops. Happy trading !!!
NSE:TATAELXSILong
by DEVERAMA
EXPIRY TRADE IN YESBANK SEPT FUT PLEASE READ THE DESCRIPTION5 DAY TRADE IN YESBANK MARKET WORKS IN GODLY MANNER NO ONE CAN IMAGINE THE DOWNFALL FOR WHAT REASON AND WHERE THIS PANICK SELLING CAME FROM I AM A PROFESSIONAL TRADER TRADING IS MY BREAD AND BUTTER THIS CALL IS NOT FOR LIGHT HEARTED ONES PLS NOTE THE TRADE IS LOOKING FOR IMMENSE SHORTCOVERING IN THE EXIPRY WEEK SO WATCH OUT BE CAREFUL I AM LIKELY TO SURVIVE THIS BLOW NOT THE FIRST CRASH I HAVE EXPERIENCED SEPTEMBER FUT BUY@428 STOP@414 TARGET@464 LOT:1750 QTY:2
NSE:YESBANKLong
by manavtechresearch
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