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Retrace

EDELWEISS LONGOn the daily chart of edelweiss, it can be seen that how crucial 70-73 zone is from past year (July'20). Yesterday Edelweiss gave a good breakout with great volumes. (OPEN CHART FOR DETAILED VIEW) Following the breakout, there is a perfect retrace too! LEVELS: Entry: CMP (70-73) Target 1: 82-83 Target 2: 90-91 Target 3: 96-97 (Following the higher high trendline as shown in the chart) STOP LOSS: 68-69 TRAIL STOP LOSS RSI shows momentum after retrace MACD bullish MA CROSS bullish I would recommend going long on EDELWEISS for a swing trade FOLLOW IF YOU LIKE THE ANALYSIS LIKE AND COMMENT WHAT YOU THINK THANKS!
NSE:EDELWEISSLong
by Keshav2329
SUMITOMO CHEMICAL LONGLooking at the weekly charts of Sumitomo Chemicals it can be seen that there is a year old resistance line. And then there is beautiful breakout of this line accompanied by good volumes... (OPEN THE CHART FOR DEATAILED VIEW) Now, here RSI is high and shows momentum. Hence RSI should fall marginally. Therefore, prices must fall, but not to a great extent. This can be justified as a retrace after the breakout. LEVELS: Entry: 372-377 (After retrace) Target 1: 452-455 Target 2: 525-528 STOP LOSS: 355-357 (Closing basis0 TRAIL STOP LOSS Risk-Reward Ratio Favorable!! Volumes check MACD bullish I would recommend going long on SUMITOMO CHEM. for a swing trade FOLLOW IF YOU LIKE THE ANALYSIS LIKE AND COMMENT WHAT YOU THINK!! THANKS
NSE:SUMICHEMLong
by Keshav2329
EXCEL INDUSTRIES LONGChart is pretty clear and straight here. A simple Inverted Head and Shoulder formation can be seen on the weekly charts of Excel Industries. Further, a good breakout is seen with good volumes and sustainability above the resistance point. In addition, a perfect retrace is seen and buying pressure can be seen in the last candle. The last candle tested the 'resistance turned support' level and from there buying pressure is seen!! Moreover, a breakout and retrace is visible from the recent consolidation. (OPEN THE CHART FOR DETAILED VIEW). LEVELS ENTRY: CMP (1082) Target 1: 1275 (Book 25%) Target 2: 1442 (Book another 25%) Target 3: 1605 (Book another 25%) Target 4: 1755-1760 (Book full profits) STOP LOSS: 960 *TRAIL STOP LOSS* MACD bullish Volumes check RSI a bit high but shows momentum Risk-Reward ratio FAVORABLE I would recommend a long swing trade on EXCEL INDS Thanks FOLLOW IF YOU LIKE THE ANALYSIS...
NSE:EXCELINDUSLong
by Keshav2329
2
ASHOK LEYLAND LONGLooking at the daily charts of ASHOK LEYLAND, it can be predicted that the stock can give a 'curvy' retrace to the level of 115-116. One can look at buying opportunities at this level if there is a confirmation candle the next day after the retrace. (OPEN THE CHART FOR DETAILED VIEW). As for the immediate trend, it looks for some days till the level of 115-116. For buying, following are the levels; Entry: 115-116 (After retrace) Target 1: 122 Target 2: 127 Target 3: 132 Stop Loss: 113 TRAIL STOP LOSS RSI is showing weakness with a downward direction face MACD is on the verge of a bearish crossover Thanks FOLLOW IF YOU LIKE IT
NSE:ASHOKLEYLong
by Keshav2329
GVK Power: Will it be 3rd time lucky...Will it breakout...???GVK Power CMP 21 - The stock is currently at 5 year resistance level - Sustaining above 21 opens up potential for a move towards 30-33 zone and 40 levels - RSI though suggests overbought conditions - so there is an alternative scenario where the stock may see some correction - and if in that correction the stock manages to hold 16 odd levels then there will be a case to come back stronger and take out the 5 year resistance and head higher So Plan your trade accordingly...!!! Take care & safe trading...!!!
NSE:GVKPILLong
by indiamarketoutlook