Positional
Positional Pick(Larsen and Toubro)The Stock has given a breakout from a falling wedge kind of pattern and also formed a bottom in higher timeframes.
Can be Brought At CMP from targets of 1670(Swings) and 1740(Positional Basis).
Fundamentally, Stock is very strong could be a nice time for investing (Short to medium term).
BPCL | Good chart setup, looks good for 35% - INHS and TriangleBPCL | Good chart setup, looks good for 35% - INHS and Triangle patterns.
CMP : 400 (Can buy in dip upto 370 in this setup)
SL : 360
Target : 550
Almost 1:10+ risk reward setup (Including dip)
Lets see if we can get the annual cylinder subscription cost from BPCL itself. Wish me good luck 😝
RELIABLE PRICE ACTION SETUP - BAJAJ FINSERV LTDNSE:BAJAJFINSV
I don't have any name for this setup but it is very reliable in identifying short term trading opportunities with a high success rate.
The rationale behind this setup is that it identifies potential trend reversal trading opportunities.
The following rules should satisfy to validate the setup.
1. There should be the existence of a prior downtrend because if we are expecting a reversal then there should be something to reverse.
2. At the resistance line breakout zone the price should form a horizontal resistance with small price swings.
3. Volume should spike up on the breakout.
4. The depth of the pattern Can be used to project the target.
*price starts to react if that's a reversal or not
it forms any pattern on low volume.
price refuses to form new lower lows.
Sometimes RSI shows divergence as a confirmation tool.
Please always trade with stop loss to avoid a big drawdown.
Hope you found this helpful and I sincerely hope you find a ton of good formations to trade-in!
Happy Trading!