TATAGLOBAL SHORT :Hanging Man at crucial ZoneAndrews Pitchfork's is capturing very well the price action so far and working as Resistance. It has closed out of it but formed a hanging man showing possible weakness, so one can short the stock if it starts trading below the upper Median Line around 143.50 for a target of 135 by providing stop loss of 147.60.
Pitchforks
Short Godrej Industries PitchforkAndrew's Pitchfork seems to capturing the price movement well so we can frame a short trade on its basis now. One can short the stock now or wherever the Stop Loss of 525 is affordable to them. We can expect the target of 465 easily. It may also touch the Demand Zone *Price Range 418 - 435* so the trade may be continued with trailing stop loss.
MRF BUY MPL/Action-Reaction MRF stock after a strong vertical bull run paused and it looks like ready to resume the journey again. One can go long now or on dips wherever one is comfortable with the stop loss of 49600 for target of price range 55650 - 57500. It offers good risk to reward ratio.
Tata Global Potential Short TradeThe stock seems to have good frequencies around the Pitchfork so one can put the stock into their watch list. Recent election result rose the expectations of an euphoric rally which gives an opportunity to short the stock at higher level around upper Median Line. It is coming out of RSI overbought Zone and current reading below 50 also confirms a potential short
TataSteel Short MPL One can short the stock at this level for a target of 456 Stop Loss 477. Good Risk to Reward ratio of above 3. Good Luck
Tata Motors: Is it a Potential Distribution?Looking this weekly chart, I have a strong suspicion that this could be a prolonged phase of distribution or ranging price action between the Magenta horizontal lines.
Price has been rejected from the upper parallel of the down-sloping fork. As per Andrews rules, there is a strong case now for a test of the medianline or the middle line of that green pitchfork.
Let's see how this pans out..
Buy Kohinoor Foods Action/Reaction Technique of AndrewsThe stock is forming a good setup as taught by ALAN H. ANDREWS : Multi pivot line passing thru gap. One can buy the stock at current level or when it trades above 95.50. Stop Loss 87 target 115 which in this kind of setup mostly reaches fast.
Pitchfork on Hourly chart of NiftyI have choose last fall High-low as important point and first gap down of this correction as my guiding direction point,
If I have choose right point then next move be toward median line to get , which is down, max three to four candles can be now wait , else this possibility should be negated ,
Disclaimer : This is for learning purpose , anyone has view please share I am just beginner , who wanted to learn ,your advice will help in learning,
As I have gone wrong many more time then right ,
Berger Paints: On the Verge of 200-DMA CrossoverThis is an interesting chart that I am tracking. Price has bounced off the lower parallel of the blue fork. Price is also on the verge of breaking out above the 200-DMA. A crossover above the 200-DMA will make me interested in this stock.
Nifty View as Dr Andrews Action/ReactionNifty has reached at interesting level as per Action/Reaction method taught by Andrews. A price reaction is expected at this level. Although the market seems to be in strong bull grip but I would be very cautious in taking fresh long trade now and start looking for shorting opportunities. RSI is also in extreme overbought zone confirming the view. Friend can watch the price behaviour at the level.
Mangalam Cement: A Potential Long TradePrice has bounced off the lower parallel of the Magenta-Modified Schiff pitchfork. More recently, the bounce off the 50-dma is a positive development. A breakout past the 200-DMA would be a major sign of strength and we can then make a strong case for a test of the medianline or the middle line of the Magenta pitchfork.
Nifty: A What-IF Pitchfork !!Nifty has registered higher-highs and higher-lows pattern, prompting me to draw this magenta upsloping pitchfork. What price does on a revisit to the lower parallel of this fork will reveal a lot about the validity of this pitchfork.
A bullish key reversal bar or hammer candlestick pattern at the lower parallel would increase the reliability and relevance of this fork.
Let's wait and watch until then...
Power Finance Corporation : Bullish OutlookAfter a brief excursion below the blue fork, price is now flirting with the lower parallel of that fork. A breakout above the swing high of 130.4 would push the price back into the blue fork and also trigger a fresh buy signal in the Point and Figure Chart.
The stock looks bullish across Daily, weekly & monthly time frame. Expect a swift move once price gets deeper into that ellipse highlighted in the chart.
I would not be surprised if the stock rushes to the middle line of the blue fork. The recent swing low at 100 would be the major support for the stock.
Bank Nifty @ Do-or-Die Level* Do-or-Die level is 18,100 (Green line)
* Bearish Candlestick @ 23.6% Fib retracement
* Andrew's Pitchfork
Bears can go short on break below 18,100
Maruti - Bulls SwiftThe breakout of ~4,750 has been retested turning into demand zone. The Pitchfork suggests support ~4,650.
The view negates on a close below 4,500.
Pitchfork Long : ML may attract the price like magnetPrice have danced beautifully on the handle of the pitchfork therefore it may guide further for the future price action. One may go long at this level with stop loss just below the low made recently for an immediate target of 490 and those who have patience can continue the trade till 540 with trailing stop loss.
Short Term sing long HDFC.The stock is having good frequency around Pitchfork and trend line. One can enter long here or on dips with stop loss of 1210 on closing basis for a target of 1315/1345. I know it is making lower low and lower high clearly in downtrend but trading a pull back expectation. It may achieve target fast in coming days. Divergence are also supporting the idea even if it does not work being against trend, the stop loss is affordable.
ITC: Not BullishPrice rejected at the upper parallel of the blue fork, which is a bearish sign.
The Magenta Fork is a "Reverse Medianline". It has a lot of touches, strengthening its validity.
I would look for the next buying opportunity, if at all, at the lower parallel of the Magenta fork or at the medianline of the blue fork.
If not, price at least has to reverse the recent sequence of lower highs and lower lows before I get interested on the long-side.
Shriram Transport Fin - Bulls Eye* Bullish Deep Crab (Black)
* At Pitchfork support
* Support at 3/1 Gann Fan
* RSI bouncing from OS level
PF is sugessting a possible shortStock is showing nice frequencies around PF. Short is possible at current price on sliding handle with stop loss of 419 and target of 394.
Hindalco: Will It Clear Upper Parallel?After being rejected at the blue upsloping medianline, the red fork now seems to be in play.
Ashok Leyland - Breakout from Pitchfork Pattern It is been observed that the price action breaks out from a previously trending Pitchfork channel on daily chart. It is indicating a bullishness in further price action and shall move higher levels if it manages to close above 82 price levels. It can also be called as a short term trend change.
Target: 86
Stoploss: 82
