BATAINDIA | Good consolidation getting ready for next move
CMP : 1575 ((RSI is weak, so buy just 60% now, remaining at 1540 level but until 1480 there is no risk at all)
SL : 1450
Target : 1850
1:3 risk reward setup
Asian paints loosing its bullish momentum. Now expect a high retracement on upcoming days. Positional traders book profits on next highs or strictly trial profits. Want to take ptofits in retracement, follow us and the proper point where the market starts retracement for paid members only. Now wait and watch:-)
EICHERMOT | Weekly strong resistance breakout with Fib & Previous resistance as support now. Looks great for 30%.
May consolidate for some weeks.
CMP : 2553
SL : 2440
Target : 3300
1:6+ Excellent risk reward setup.
Maruti has been retracing from its harmonic levels of 1.13 if sustained above these levels there might be an up move again.
The best and safest level to buy is above 8200.00. SL must be below the previous immediate swing that is below 7240.0 levels.
Calculate your RR ratio and trade.
PS: I am expecting a halt at these levles.
The stock is currently at its peak and will start retracing now.
It should retrace till about 1530.
Thus two trades exist.
Sell @ 1660
Target - 1530
SL - 1705
Long Trade (Wait till retracement)
But @ 1530
SL - 1490
Target - 1820
Reasons to LOOK for Buy:
1) Clearly in an uptrend.
2) In the pullback phase to hit the previous support zone.
3) Support zone contains 50% retracement line.
4) Price may also hit 20MA in the zone (thus considering 20MA as support)
Look for buying opportunity in lower timeframe
SL @2882 as per Risk.
Position sizing as per Risk.
THYROCARE | Nice retracement and RSI divergence in smaller TF - Looks good for almost 25%
CMP : 988 (Can buy upto 960)
SL : 930
Target : 1200
Kind of 1:4 risk reward setup.
Similar patterns of HCLTECH, TCS