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Reversal

3 Drives on Bottom : Good Risk to Reward The stock has formed 3 Drives on Bottom pattern and is in deep oversold zone. It has formed bullish engulfing showing a potential reversal therefore one can go long at this level with the recent low as Stop Loss. One can expect the 68 as target. It offers a healthy risk to reward ratio of 3. The defensive trader should wait and enter once it starts trading above the Engulfing Candle, which means risking more and RR ratio of 2 but better chances. So decide on your risk preference. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:YESBANKLong
by praveen.bhatiya
Double Bottom Reversal The stock has nicely formed the double bottom reversal pattern so one can expect that the long term downtrend has been reversed for time being. It has retested the neckline yesterday and bounced from that level. One can buy the stock now with the SL of low of today and continue with the trade for the target of 472. It offers a good Risk to Reward ratio of 3.50. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:SUNPHARMALong
by praveen.bhatiya
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