AUROPHARMA | Convincing wedge breakout with volume and retestedAUROPHARMA | Convincing wedge breakout with volume and retested
CMP : 818
SL : 805
Target : 885, 950
Retest
IOC - Intraday trade for 7th of SeptemberIOC is testing lowe levels of its daily time frame keep an eye on the following levels:-
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83.55 - below which is the Selling Zone (immediate selling might happen)
if fall
Target 1 : 82.40
.
84.65 - above is the buying zone wait till it closes above it
if rise
Target 1 : 85.65
.
testing levels:- Might test levels of 85.65 which is a resistance zone in the daily chart, and fall again.
.
Max profit to be booked: 2% change in either direction.
Granuels- A Chart with Multiple IndicationsThis chart reflects various aspects of technical analysis. Let's understand them
1. Price action perfectly shaping up for a move (Pink line reflecting behavior of price).
2. Price taking support at previous breakout levels(Resistance acting as support for the stock).
3. Price making a flag pattern too. (Draw a trendline below the already drawn one.) A trend Continuation Pattern which provides a lot of confidence to all the trend traders.
4. Volume picking up the pace as the price is trying to move up (What do u think who is making all these positions?).
5. A hammer with big tail/wyck reflecting strong interest of buyers which pushed it back up.
What else do we need before entering a trade?
Hope it will help you understand.....
Cheers and Happy Trading.
Disclaimer: I am not SEBI registered. Please trade with caution and manage your risk. Consult your financial advisor before entering into any trade.
Simple technical view of bank nifty(spot) Bank Nifty(spot) exactly faced resistance at 25232 where 200 day MA and gap resistance area is present, it recently broke the wedge pattern on the upside and mostly just coming back to retest , watchout for 23900 levels where 50% fib retracement level lies , if sustained further upmove is possible.
Personal view: Bullish as long as 23900 levels hold.
Disclaimer: These are just my personal observations , Please do your own research or consult an advisor before doing any investment or trading.
P.S: Constructive criticism is appreciated.
Larsen: Huge Accumulation in progressLarsen price havent moved significantly in past few weeks.
Any slight upmove followed by retest levels where it retrace near Fibonacci levels. ( Approx 38.2% in most occurrences)
Any significant volume upsurge is invisible and evenly distributed across weeks.
Heavy resistance near 1000-1020 levels.
If price crosses these levels with good volume, the result will be a breakout & rally till 1100 levels.
Long: Best SetupThe Call is based on Inverse head and shoulder, Trendline Breakout and Supply Zone breakout and retest. It is also Trading in parallel channel.
Best Setup
Entry between 445-460
Target 480/510
Stop Loss 437
Disclaimer: The recommendations are based on technical analysis and subject to market conditions. Please trade at your own risks. The author is not responsible for any loss.
Long: Triangle Breakout and RetestPositional Buy:
Entry 540-550
SL 535
Target 590-600
Disclaimer: The recommendations are based on technical analysis and subject to market conditions. Please trade at your own risks. The author is not responsible for any loss.
ICICI pru ready for bullYesterday did the breakout retest...earlier resistance acting as support...keep it on radar for above 455 with 1% SL for intra can show 460/465
India bulls hsgdid breakout retest....presently taken support on previous resistance which acting as a support...on shorter time frame showing positive RSI diversion sustaining todays high can give some bounce....but stock is highly volatile so i will avoid any entry only watching how TA goes....
A proper Break out Just occurred.Wait for the retest and get into the trade and it has more than 70% chance to go on our favour!
Apollo Tyre - Re-Test BetApollo Tyre breached a long term Resistance at 119.6 with high volume.
Overall outlook is bullish on the backdrop of good results.
However, a re-test should be on the cards.
Short below 122.6 for 120, 118 with SL at 125
Buy above 125 if it continues on Bullish mode.
McDowell - 50 EMA crossoverBuy if it closes above 586 on the 15 min chart for targets of 598 & if it sustains above 600 then higher targets.
NBCC Short term pickAbove sustaining 26.40 can show 28/30/33.50 with support of 24.80....short term pick
RBL BANK #BULLISH#RBL BANK AFTER high of 205.70 it retraced up to 170.80 it retraced at 61.80 from this high....presently at support zone after neckline breakout it can give momentum on upside first resistance at 181/185/190 with support of 170....also in hrly chart its rsi positive diversion.
MINDTREE , fake !!!Mindtree had given ascending breakout , but need one good closing to decide the upmove , can led to 1006 / all time high !
Happy Trading ! :)
Tata Com Trendline breakoutNow trading at all time high after breaching treandline. If any retest or pull back happens, jump in.
BajF: Structurally WeakThe stock tried to bottom near March 2020 lows which also coincided with the 23 Oct 2018 gap zone at 2083.
After a couple of attempts the stock finally broke the lows in April and took support near an important monthly level at 1912, which has also been 61.8% retracement of BajF's life time bull market. The stock faced a strong upside bounce of 26%.
It tried to hold this low for some time before breaking it down in May to make a new low.
In my personal opinion although the stock is structurally weak and making new lows yet there is not much downside conviction.
If one is looking to go short, one has to wait for deep retracements. On downside there is a weekly support at 1818 for the short term.
Longs can not advised for short to medium term unless the structure changes to HH and HL. For long term, buying can be done in pieces near the support areas mentioned on the chart.
Hope this information will be useful.
Regards
[POSITIONAL] RELIANCE: Retest Theory + Shooting Star Shooting star on 1D time frame. Sell if Previous day low breaks. Avoid Gap up/down.
*Use Strict SL.
Airtel test the retestBefore going up it has to come and test the previous resistance
If we can see some reversal then we can go long
BRITANNIA long on intradayIts a retest trade of breakout of trendline on 15 min candle chart. trail immediately the sl so your risk would be less.
NTPC retesting its breakoutIts a swing trade after breakout of the triangular pattern on daily chart it is coming back for retesting keep sl and target as shown in chart and trail it on every target.
#RITES - Daily ChartThere is a momentum with railway stocks, IRCTC bumper listing plus RITES giving huge returns. The stock is now retesting with lower volumes and looking at the candles near the retest zone, one can safely assume that either the consolidation is going to happen or uptrend will continue.
One can keep a stop of anything below 255-256
