radico is restestingbreakout and retesting
if sustains its should break 351-354
then we can see 371,411
Retest
The Breakout-Retest Trade IdeaNotes on the chart.
Your likes and comments are highly appreciated.
Trade safe.
RPower: support zone & breakout retest confirmation {Bullish}RPower
CMP 48.50
Last time, we were able to capture the stock movement right from 36.80 levels to 62 levels where we highlighted the zone of 58-62 being important
The stock has come down exactly from same levels...
At current levels the charts suggest the stock is back at important support levels & zone of 45-48 may act as strong support ...
Buying at current levels & on dips towards 45 can be considered
Target 82 / 108 levels
Take care & safe trading..!!!
PFC- Breakout and RestestPFC- As I have mentioned in charts, PFC broke its resistance area after consolidation, and retested same area today, At breakout there were good volumes Jump and Today also one can see Volumes bump at the same time we can see RSI had crossed 60 levels and at the time of retest it took support at 60 levels which is strong bull sign. One Can Go Long for 163-168 Target Area with Stoploss of a Close Below 135.
Bata: Dancing On The CloudsThe stock broke out of a long term resistance near 610 on higher timeframe charts. Overall market correction may push the stock down to retest 610 zone again, which may now act as a support. This zone coincides with the rising channel trendline. I also expect that by the time the stock retests that zone, the 55 EMA will also be there (hand drawn on the chart) to provide extra cushion.
So at the 605/615 zone, we will have the confluence of potential horizontal support; channel trendline support; and supposedly the 55 EMA.
The stoploss for this trade would be 580 and the targets would be 647, 660, 680 and near 700 .
Hit like if this information can be useful.
Trade Safe.
Do you own research before trading with my ideas.
Regards
Bravetotrade
THE CONFIRMATIONWe generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better educational posts in future.
Trade safe, stay healthy.
Best Regards
Bravetotrade
Castrol : The Simpler it is, Smooth it will be !After Retesting the zone of 397's , expecting Castrol to move further down towards 387's zone. The trade setup is simply based on Support turned Resistance Retest, will see how the trade pans out... !
Nifty : Which way for the Day...Good Morning ! There are 3 possible scenario's in Nifty, but if we have to go by logic retest of 9580's sounds valid but we are unsure whether Nifty will give us what's expected.
The potential chance of Double Bottom around 9480's will be spoiler if market opens gap down & breaks the level, then based on aggressive entry's aim for 9400's-9380's zone as targets. The other scenario being, we are getting good open around same range as yesterday close & Nifty moving down forming double bottom retest 9530's zone then heading down. These are the various potential scenario's awaiting to emerge in Nifty, I hope Nifty won't do anything out of syllabus for the day, act accordingly depending on any of these scenario evolving during the session. Just one last point, if Nifty opens Gap down & we get good entry at double bottom to retest previous 9580's, then it will be too good, too much of expectations that will be. These are not single day scenario's, just for day or two.
Happy Trading !
PTC Long Low risk TradeThe stock is still in uptrend so one can enter long at appropriate level. It is forming an ascending Channel and now getting support at lower level. Yesterday retest offers a very good opportunity to go long by providing a small stop loss of 84.80 on closing basis. Target one can look at least 2.5 -3 times of the risk taken depending upon the entry tomorrow.
HEXAWARE Buy Learning using PFAndrews has taught that if price crosses the Median Line without halting there it is sign of strong bullish move and that in this scenario movement is expected till the other parallel. Mostly price comes back to retest the Median Line within 3 days thus giving a good entry. It is the perfect example to the technique. Pitchfork seems reasonable so one can expect the price to go till other end.
BankNifty (Hourly)* Channel Breakdown & Retest (Green dashed line)
* Diamond Breakdown (Black line)
* Support zone breakdown (Red horizontal lines)
Maruti - Bulls SwiftThe breakout of ~4,750 has been retested turning into demand zone. The Pitchfork suggests support ~4,650.
The view negates on a close below 4,500.
Nifty : Who can Tame Bulls during Bull Stampede, Anyone ??Note :
This setup is only for Aggressive Traders, if you are conservative trader please stay away.
Enter only on valid Break of trendline, use stops wisely
Remember if we short now, we are standing in midst of Bull stampede.
Nothing Scary,Never Fear just Trade the Plan !
The above wordings deserve a repeat bcos of highly risky trade setup. Now two scenario's possible :
Scenario 1 : Break of Trendline... Go Short with proper stops
Scenario 2 : Retest of Trendline, Initiate long positions with stops mentioned in chart
Whatever scenario happens, check your tradeplan before initiating trade.
We are standing against Bull Stampede to tame Bulls (Nifty Short positions) but we can just run along with Bulls on Retest (Nifty Long positions)
