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
Retest
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
Nifty50 Ready to Re-Test its Lifetime high 11760.Nifty50
Ready to Re-Test its Lifetime high 11760.
Yesterday Session Bounced from Parallel Channel Support Line 11610.
Wcykoff Reaccumulation , markup and test done....Long on this stock. Also a Fundamentally good stock.
Not a Trading/Investing Recomendation
USD /JPY Technical analysisThe daily chart of USD/JPY is in uptrend.
It has formed an evening star pattern which signals profit booking might be on the cards.
We expect the pair to face some selling pressure for now.
EUR/JPY Technical analysisThe chart clearly shows that the pair after a long downtrend breached the resistance trend line
It is going to retest the resistance in which the pair is going to create the lower highs after that
long after the trend line retest bullish candle formation
Nifty: July Could Be DecisiveI believe that this month could decide a clear direction for us. This week it had a breakdown below 10700 support level and an important trendline (of course signs of bearishness). But the Friday's pullback was as strong as the breakdown. To my surprise there was no sustained reaction from 10700 and it managed to close above support.
What Next?
Scenario 1 : We may be retesting the breakdown area. In that case, we should see some signs of reversal in the 10700-10765 zone. If we resume the downtrend from there we will be heading towards 10520 and 10430 next week.
Scenario 2: Breakdown that we had last week fails. The short covering above 10850-10900 zone will give enough energy to break the long term resistance trendline on sustained basis. Sustaining above 10765 would be the first sign for bears to get cautious.
So let's see what happens.
All the best for next week.
Regards
