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Retracement

ONGC: Long Analysis.ONGC rallied from around 100 levels back in April to about 128 odd levels in June. Since then it has corrected down to 112 and seems to be taking support there. From there it is improving its structure and trying to create higher lows. It has completed a 50% retracement of that rally from 100 to 128, all the while travelling in a downward channel but now it seems to be breaking out of it. _______________________________________________________________________________________________________________________________________________________ One could try to go long keeping the following levels in mind. Do initiate the trade only when you observe that the price is sustaining above the "LONG ABOVE" level for some time. LONG ABOVE: 118.50 STOP LOSS: 114.85 TARGET 1: 122.15 TARGET 2: 125 _______________________________________________________________________________________________________________________________________________________ Manage risk properly and trade your plan. Like and follow for more. :)
NSE:ONGCLong
by Tradeception_
2
Lupin uptrend to sideways Lupin has done Very good correction in this month but the chart looks high slope for downtrend which could sustain as it need to satisfy the demand and supply . Now its in perfect place for retracement can retrace upto around 975 Golden opportunity for swing trade 2-3 days will do it but followed by strict stoploss Take position only after getting buy indication form MACD indication in 1 Hr time frame signal stoploss below todays low 914 ( never take loss more than 1%) target = > 3.5 % + (idle 3.5%) # Don't Greed more than this as to go uptrend it need to form "W" pattern so Dont take risk of expecting more
NSE:LUPINLong
by arunprashanth888
IT to loose some steam Sharing only for the purpose of learning. IT sector may lose some steams after this wonderful rally. Fibonacci Projection as shown reached the 1.414 levels in a single rally. Few stocks showing some retracement signs on charts. It can retrace or again start his journey again as few stocks still seem very strong on charts as below. - TCS - Mindtree - OFSS - TECHM. Stocks that can retrace can be as below. - COFORGE - LTI - MPHASIS - WIPRO. This is only for the learning purpose watchful for the monthly expiry and sept month for IT sector. As FMCG now can come forward in this situation to move market UP and smalls Hopes from bank nifty to keep market eventful for September series. Share your thoughts regarding this in a comment.
NSE:CNXIT
by Pro_Trader_GRV
Swing trade Lupin Min 2.5 % Long After a big fall it is in a very good place accumulating in support region waiting for retracement or you can say for lower high . but dont miss this opportunity as any stock cannot go vertical as it need to satisfy the supply and demand . good entry around 970 target you can keep arounf 2.5% - 3.5% if for extreme safe trade 2.5 % will give highest probability but youl'l miss the some profit though so trade with you own risk mangement dont take more than 1 % stoploss Previosuly same situation repeaded and taken opportunity in the DR Reddy stock aswell check that trade for reference how it will be performing and after exiting wait for re entry again after some time as it may also retest back to these level and form " W " pattern and go up 5 %
NSE:LUPINLong
by arunprashanth888
SBIN LONGOn the daily charts of SBIN, it can be seen that it is taking support of its recent trendline (yellow one) and there is a year old resistance too (green one). (OPEN CHART ABOVE) Also, on the weekly charts, a breakout then a retracement kind of action is seen. Also there is a good buying pressure at the day end today. This shows that soon a breakout is expected on the daily charts from the green line. One may look for buying opportunities above 445 with good volumes and good candle body. Expected targets could be 456, 471, 490. Stop loss, considering buy around 445. could be at 425. TRAIL STOP LOSS FOLLOW IF YOU LIKE THE ANALYSIS LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!
NSE:SBINLong
by Keshav2329
2