Breakout Two Chart Patten at same Time* Two chart pattern completing at the same time High conviction set up .If it made above 200-day moving average that gives more confident .
* In daily time frame high volume buying initiated today that gives gives a bullishness sign .
* I am pre-attempt this breakout due to high volume before the breakout .
Kindly Let us Know if you have any questions.
Resistances
USDCHF - On target - Expect FallPrice after the wedge breakout went up strongly and exactly struggling to break the previous resistance.
One can expect the price to resist and fall from this level considerably. If you are planning for long then wait for the price to break the immediate previous high.
Prestige estates - Price should reach 350Price following a simple trend which moves the price higher and higher on each fall as shown in the picture. This time price breaches the trend and made a Lower Low and again moves up as per the trend.
Since price breaks the actual trend one should wait for the price to reach 350 and decide.
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HAVELLS BROKE OUT WITH GOOD VOLUMEHavells broke out with good volume today.
The resistance of level 586 should act as support if market supports it.
You should exit your position once scrip closes below 586.
The target levels have been mentioned clearly in the chart above.
Thus, from current price if there is loss then it would be ~2% (597-586 / 586)
and targets are 8.9%, 11.01%, 15.97%, 21% .
Keeping in mind the risk reward ratio the current levels are favorable and attractive.
***views are my own***please take your decisions accordingly***
hdfc , must go for 19** and beyond !!!A flag breakout and also bullish on weekly setup must take for the positional bet.
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Shorting opportunity in BEML on NSE (INDIA)This is daily chart of BEML on NSE (INDIA) with CMP @ 700.45. It seems to be a good shorting opportunity based on following observations:
1. It is downtrend and price is still trading below SMA200/SMA100.
2. A trendline drawn on the chart shows resistances where price rejections are shown by arrow. Now again, price has tested this trendline and also SMA100 and showing rejection after consolidating during 12th Nov to 15th Nov 2018. Now bearing engulfing is formed on 16th Nov 2018.
3. RSI is also retracing from overbought area (similar to formation in the 1st week of Aug 2018)
4. Also price is showing retracement from 61.8%
All other observations are shown with horizontal line and arrows.
In view of above, it looks a good opportunity to short this scrip with SL @ 739 ( above the high of bearing candle on 16th Nov 2018).
Happy trading...