Price seems to be following the descending Channel. There was a gap down red candle 2 days ago. It has tried to fill the gap today but price got rejected at that level so it may provide a resistance and could be used as Stop Loss. Using all this information we can frame a short trade by risking a small amount the high of today and look for a target of lower...
It is been observed that the price action in both stocks trending up in the channel. They both getting high demand on the support levels or the supporting line of the channel, indicating buyers pushing up price action in a channel setup.
I shall be updating the trade calls on Monday.
Regards.
IDFC price was moving and forming the descending channel. It has broken the channel thus offering a long trade with small stop loss and good risk to reward ratio. Price can easily climb till the previous range doubling area. I would provide Stop loss some ticks below of last bar on closing basis and look for a target of 58.8. RSI reading of 60, coming out of...
It is been observed that the price action breaking above the downward channel indicating buyers domination over price action. Buyers shall further take prices up from current levels.
Target 1: 96
Target 2: 100
Stoploss: 91.50
It is been observed that the price action breaks above the downward trending channel, indicating bulls charging up. It shall further move up from current level and every dip is a buy.
Target: 1220
SL: 1200
It is been observed that the price action formed a bullish hammer candlestick pattern at the trending up channel indicating a further move up. It took a strong support at 1000 levels.
Target: 1030
Stoploss: 995
It is been observed on the daily chart that the price action is trending up in a channel. Currently the price action corrected from month's high of 86 to 81 levels. Now, it shall further move up from the support levels of the channel.
Target: 85
Stoploss: 82
RR: 1:2
RCOM price movement are forming a beautiful upward channel. Today's touch at lower boundary offers a good opportunity to go long at this level. Low of last swing would be a good protection so could be used as a Stop loss. It offers a good possibility to reach the upper end.
It is been observed on the daily chart that the price action is trending up in an uptrend channel. Now, the price action has touched and reached to the support level or line of the channel, forming a channel trade setup. It is usually a risk trade setup but most rewarding.
Target 1: 84
Target 2: 85
Stoploss: 81
It is been observed on the Daily Chart that the price action consolidated within a downward channel or flag formation and then breaks and closes above it, indicated a channel breakout. Now, it has further moved up from the breakout levels indicating a continuation of trend and further move up.
Target1 : 770
Target 2: 780
Stoploss: 750
Regards
It is been observed on the hourly chart that the price action consolidated within a channel or flag formation and now it has broken above the channel and moving towards the next resistance level.
Target: 116
Stoploss 111
Regards
Channel and RSI Divergence are suggesting a short at current level for a target of 28.30 by providing a suitable Stop loss. However one can notice that Primary trend started on Aug 2015 is still intact and driving the prices higher so it is not for trend follower but small contra trend to add fast profit to your capital and exit.
NSE:CEATLTD
CMP - 1174.50
You can see the parallel channel and the support lines which date back to previous months.
Trade accordingly ,
Thanks,
I hope you like it.
It is been observed that the price action consolidating in a corrective channel on hourly chart and now, it has broken above the downward consolidating channel indicating further move up.
Target: 690
Stoploss: 660
Risk Reward: 1:2
