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Retracement

M&M: AnalysisKeep an eye on M&M it has given a suspected breakout from parallel channel and retracing back to original level. If this isn't a breakout hen their is a chance of upward momentum in upcoming days. . Reason to Buy: 1) Possible breakout from parallel channel formed in daily time frame. 2) Holding higher levels. . Safest entry point would be at 659.90 levels or above. Stop loss must be below the previous immediate swing. Calculate your RR ratio and trade accordingly.
NSE:M_MLong
by Umang_Sharma
Hero Motocorp ltd: AnalysisHero Motocorp is trading at breakout levels of 2890.20 in 1 hourly time frame, their is a high possibility of breaking out of this stock. . Reason to buy for a weekly position: 1) Trend-line in the daily time frame is broken. 2) Triangular pattern breakout. 3) Upward momentum with good volume. . Wait for price action then trade, current view bullish. Retracement Entry is suggested. . Stoploss must be below swing low in hourly time frame or below the trend line i.e 2839.45.
NSE:HEROMOTOCOLong
by Umang_Sharma
2
IOC - Intraday trade for 7th of SeptemberIOC is testing lowe levels of its daily time frame keep an eye on the following levels:- . 83.55 - below which is the Selling Zone (immediate selling might happen) if fall Target 1 : 82.40 . 84.65 - above is the buying zone wait till it closes above it if rise Target 1 : 85.65 . testing levels:- Might test levels of 85.65 which is a resistance zone in the daily chart, and fall again. . Max profit to be booked: 2% change in either direction.
NSE:IOCShort
by Umang_Sharma