MOMENTUM TRADE IN BANKBARODA
-THERE IS RISE IN OI +RISE IN PRICE
-CLASSICAL PULLBACK AFTER BREAK-OUT
CHECK PREVIOUS IDEA
Breakouts are overrated, Pullbacks are underrated. One can consistently make money in getting into pullbacks too. Hindustan Petroleum, got one such BUY signal today. The watchlist was sent to all the subscribers yesterday.
Strategy used: Pro-Pullbacks.
Nifty bank looked weaker in today session it closed between 20 EMA ( Lower Side) and 200 DMA ( Upper Side)
Stocks like SBIN (Bearish) , YES Bank ( Mildly Bearish) would continue to show some weakness.
Indus Ind bank ( At support ) , Axis Bank ( At Support ) , ICICI Bank ( Bounced from 100 DMA),
HDFC Bank ( Trading in a Range) should keep the bank nifty...
IT CAN COME UP TO 6377 ,6580
LOOK FOR HIGHER HIGH HIGHER LOW IN THIS AREA, IF FALLS TO MAKE HIGHER HIGH HIGHER LOW, THEN SHORT AROUND
(6377 AND 6580 ). BE CAREFUL FOR FALSE BREAKOUT AROUNG 6600 . AND THEN SHORT
AND LOOK FOR 5860 AND 5760 .
STOP LOSS 6650
wait for nifty to come up . one can short at 11300 and stop loss 11330 for the target of 11050 and 10870.
or risky trade can look for short at cmp and stop loss 11150 .
11300 will very problomatic area for bulls
nifty should hold 10800 , otherwise it can slide to 10600.
if 10600 breaks than 9900
Disclaimer: All posts/views are for educational purpose only..!!...
stop loss 11370.
selling range 11300 and 11360
1st target 11020
2nd target 10820
huge accumulation near 11020 to 11600.
so wait for good stock to fall and then grab.
one update all target met given on 7 JULY.
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
NSE: NIFTY possible move for 11018
Chart pattern suggests that current volatility might take nifty for 11018 level.
Long at current level with stop loss between 10800/10767 for a target of 10910, 11018 +
Movement with higher lows in last few sessions suggest it is most likely to push nifty higher.
Use stop loss
After sell off nifty might bounce back
Long between 10639 to current level with stop loss around 10570 level 50% fibo level from recent high
And Trail for Targets 10815, 10883 possibly.
Below 10570 might try for lower level.
Use stop loss