ITCDaily Chart View
on the verge of supply zone
Strong Pull back Candidate
Taking Support on 200 EMA
I am not a SEBI registered adviser. All the information provided by me are for educational/informational purposes only. Never invest more then 2 % Capital In Single trade. Trade on your own Risk and analysis
Pullbacktrade
Trade the Trend with Moving AveragesIt is advised to do backtesting on the instruments you want to trade. You can also play with the moving average as different instruments respect different moving averages, some would respect 50 while other may respect 20 or 100.
Avoid this model in a sideways market when the moving average is flat / wavy. Trade when the EMA is trend up or down at a reasonable slope, 30-45 degrees or higher.
Hope this post will add to your knowledge.
Regards
jjsingh
SHRIRAM TRANSPORT FINANCEAfter giving a breakout it appears to have completed its pullback. It could resume its uptrend from here for 1125 / 1150 as long as it remains above 1030
momentum play11 week base - cup and handle
shakeout in the middle of base on weekly chart.
it changed character to bullish after breaking upper trendline.
then it gave pocket pivot on 20/11/20 off 50 MA which was also low cheat entry.
now it again gave continuation pocket pivot off 10 MA showing sign of strength.
Looking at 600 min and then even further
High tight flag....Keep watch200% prior move and then its testing 50 DMA for first time.
So its tradable as pullback as well as high tight flag.
7 weeks cup and handle.
Though proper entry will be above 129, but if it closes above 124-25 with significant volume, aggressive buy can be initiated.
Target will be 140 and 158 i e horizontal S/R.
TATA CHEMICALSIt has entered into the PRZ of a Bearish Harmonic Butterfly suggesting a pullback/reversal in daily time frame till 340/335. View would negate above 370
Harmonic Butterfly Patterns usually indicate pullbacks of the larger trend (in this case the same being up) not major reversals. Such patterns are usually associated with breakout patterns and respective pullbacks.
KotakBank Pullback patternKotakbank's chart hourly and daily pattern shows its a bullish setup building but option data is showing it is a sideway momentum.
There is a pullback due which might show the below setup.
Script Action Entry SL Tgt 1 Tgt 2
Kotak Bank Buy 1,761.48 1,673.38 1,849.58 1,937.68