In past 6 working days MOTHERSUMI almost gained 30%. Now expect a good retracement.
If MOTHERSUMI giving a gap up opening tomorrow, can expect a high volume of profit booking and obviously scalpers will also comes to market for shorting. That's why am expecting a high retracement !!!!
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:-)
Keep an eye on Hindustan Petrol. Expected momentum is in upward direction.
Reason to Buy:
1) Forming a triangle pattern
2) Taking support on weekly as well as daily trend line.
3) Formation of 'W-Pattern' (wait for neck line break)
Stop-loss must be below the previous immediate swing. RR ratio must be calculated and traded accordingly.
Keep an eye on Justdial it is on the verge of breakdown. It has been consolidating in small space since June in addition to that it has been showing green candles for 3 days in a row. Be ready for retracement then breakout.
Stop-loss will be below previous immediate swing. Calculate your RR ratio an then trade.
Reliance has broken a rectangular pattern in daily time frame and it is at all time high levels and in upward momentum.
Reason to Buy after Retracement:
1) Pattern breakout
2) Good volume at breakout
Indicator supported this breakout:
1) Bollinger bands
2) Moving Avg.
Planning on Buying at retracement. Stop loss will be below immediate support level.
Zeel is at the possible breakout stage of a monthly trendline in daily as well as 1 hourly time frame.
Reason to Buy:
1) Healthy 'W' patten break out.
2) Buyers dominance at lower levels.
3) Monthly trend line break out.
4) Increased volume levels.
Best place to enter at 225.00.
SL should be at previous support i.e near about 215.50.
PS: Stock is known for...
ENTRY :- BETWEEN 1697-1728
SL :- 1551
TARGET :- 2100
Earlier dmart price has retraced twice from levels of 1697-1728 as shown in the figure
It can be a good retracement trade !!
Follow Entry,SL & Target Properly !!
Gold took support at broken trend line which implies downtrend is over.( inner trendline)
Outer trendline is still acting as resistance.
lets see which trendline is powerful.
Resistance level 1300