Rallis - 1. After reaching the pink channel top during the year 2010, it started moving sideways with very little inclination only to touch the other side of the parallel channel.
2. While going sideways,it formed the blue parallel channel. Whenever it touched the blue parallel channel bottom, it climbed higher to its top. Now it touched the bottom of the pink parallel channel + blue parallel channel+ support line of 254+ fib 0.618 retracement.
3. All the above led the strong foundation for its bullish rally and already gave 50% in 3 months.
4. Trade setup:
a. After reaching the blue channel top, it it comes to 254, its good to enter as a aggressive entry.
b. As a conservative entry, entry should be done only after the successful strong breakout above the blue channel and 362 resistance and it should sustain above it for 3 months.
c. Once the above is done, target will be minimum 5x in very long term.
Note: This is for educational purpose and not a stock recommendation.
Patiencepays
Let's talk about Patience !!This stock on the chart just looks flawless but in reality, it is a stock that will test your patience to at least get 50% returns. Price action wise it shows a very promising setup, in 2021 coming out of a 10 year consolidation and again consolidating for over 3.5 years. It has 50 MA support on monthly and currently looks good for a good returns.
CMP: 9.50
Target 1: 15
Target 2: 20+
Time frame: 0-2 years
Disclaimer: Trade at your own risk
SHORT COVERING CANDIDATESuntv Fut broke above multiple resistance zones as well as ascending triangle pattern on an hourly charts with huge decrease in OI suggesting short covering rally.
Could be bought with mentioned stoploss & target.
IPCALAB FUTURESIpcalab futures is trading near its resistance zone of 1620-1625 with decreses in OI suggesting huge short covering.
Risk:Reward = 1:3
Could be bought with mentioned stoploss & target.
LT continues its consolidation phase within the symmetrical triaAs LT continues its consolidation phase within the symmetrical triangle formation, traders should closely monitor the price action around the key levels of resistance at 3700 and support at 3500. A breakout above 3700 could signal a bullish trend, potentially leading to higher targets, while a breakdown below 3500 might indicate further downside risk. Keeping an eye on volume and momentum indicators as the price approaches these boundaries can provide additional insights into the potential direction and strength of the move.