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Pullback

Hind Petro : Buying opportunity with good R:R (Demand Zone)Hind petro has been bleeding since months. In previous day session it closed at 171 which is its a good support. If you zoom out its chart on weekly time frame you will find this zone is very crucial for Hind petro (171-164). So, swing short should be avoided and anybody having postiion on short side they must book their profit. If a bounce came from here and breaks the 175 level buy can be initiated with SL 170.
NSE:HINDPETROLong
by Retailer_ki_dost
1
Pullback BUY on DR REDDYS LABSTrend on Higher Timeframe (Weekly chart) - Green / Uptrend Trend on Current Timeframe ( Daily chart ) - Green / Uptrend It is common for shorter duration multiple moving averages to compress and expand repeatedly during an Uptrend. The compression of such shorter duration multiple moving averages can be used to identify a pullback. The blue cloud in the chart is a combination of shorter duration moving averages. The dots at the bottom of the chart identifies such compression. Swing traders can enter at around Rs.4482. Long term traders can use this pullback and continue the trade since the trend is strongly upwards. The stock has taken support at 50EMA. That can be used as Stop Loss i.e. at Rs. 4310
NSE:DRREDDYLong
by Pro-Setups