1. 100 days rounding bottom with 376 points depth
2. small rounding bottom with contracting volatility at the resistance zone
3. volume spike on candles trying to breakout
4. 52 wk RS and 3 months RS going above zero
5. distorted head and shoulder in rounding bottom
trade plan
wait for candle close above resistance zone
1. price breakout with volume wait for delivery data eod.
2. consolidation on falling volumes.
3. volatility contraction
4. RS ATH breakout
5. upside potential of 40 points
Fundamentally there is nothing encouraging here however, purely on technical basis, this stock seems to be ready for a big move.
RSI breakout is an early indication, and the relative strength of the stock seems to be in a very sweet spot.
A triple bottom is adding confidence to this Low-Risk High Reward setup.
1. 2021 High Breakout.
2. Huge Breakout Volume.
3. Aggressive New longs in Futures.
3. Increased Deliveries.
4. Huge Volume Activities in last couple of months.
5. Strong Relative Strength and RS inclined up (meaning Stock continues to outperform benchmark).
6. Net Alpha of 42.71% from ARS date 7-March 2022.
Logistics sector is doing very good and government main focus is on this sector to low down the costing of logistics to improve it and increase export from INDIA
Results are very good for shreyas shipping and there is positive relative strength building on the Technical chart
Buy small quantity around cmp 311 with SL of 300 DCB
Add more quantity if upmove...
expecting a bounce up from this demand zone
RSI staying above 30 shows existing strength
going long with CE 2500, 2600
keep stop loss target as per risk appetite
disclaimer - trade at own risk
After a free fall from 200+, this stock is moving sideways and taking regular support near 40. This could give more than 50% return in near term. Huge accumulation happened on 24th August 2022. 20 and 50 EMA converging. RS positive and HM near center line.
The relative strength (ratio) chart of Nifty to S&P 500 (NIFTY/SPX) has hit its long-term resistance once again and has been consolidating in that area for some time now. Breakdown from this consolidation can take the Nifty/SPX back down to previous horizontal support.
Note: This is for educational purpose only as the ratio itself is not tradeable and to place...
Godrejprop is ready to give a breakout and we need a good close above trendline with volume.
RSI is turning bullish
RS is positive
Macd ready for crossover
Converging EMAs along with price closing above 200 EMA on a Daily time frame. Supertrend, Hilega Milega, and Relative strength all are positive. Accumulation can also be seen in the volumes along with high delivery. This could be a good reversal trade.
IT sector is showing a huge divergence with respect to NIFTY 500. The relative strength is on a decline but the price is surging up. This seems to be a classic distribution pattern. In the near future we might see slowdown in IT stocks. The price action is also showing a broadning pattern which indicates high voltality in price action.
Time to risk off in IT stocks?
SRF is in uptrend with price breaking out previous swing high with positive RS but it is done with a divergence on RSI so 2621 level on closing basis is now crucial to validate this breakout, if sustained long trade can be initiated else could correct upto 10 %.
