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Reversal

SHORT : Victor Sperandeo 2B Reversal Pattern RSI DivergencePrice formation suggests a short as recommended by Victor Sperandeo in his 2B Pattern. Price closed above the previous high yesterday with good volume but got rejected immediately and closed below to low of yesterday. One can short the stock with reasonable stop loss. Risking the small amount gives an opportunity for a decent Risk to Reward ratio trade. RSI divergence is one more confirmation for the trade. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:LTShort
by praveen.bhatiya
GO-LONG~EMA~KAMA~SUPPORTI have used EMA and KAMA lines here. By using EMA line, I can get the better idea about price movement rather than using SMA && by using KAMA line I can avoid noise. here in this chart time frame is of 60 min, EMA(20) & KAMA(14,5,30). You can see here, whenever the EMA line crosses the KAMA line the trend changes. My recommendations here is to go long in SUN PHARMA. 1. it has already corrected about 120 rs.(from 680 to 560). 2. in daily time frame there is a strong support level around 560. 3. the EMA line just crossed the KAMA line. Have a long position and enjoy the profit. thank You!
NSE:SUNPHARMALong
by harshit777
7
LONG in GLENMARK on NSE (INDIA)This is weekly chart of GLENMARK on NSE (INDIA) with CMP @ 665.55. It looks a good opportunity to take a long position in the scrip based on following observations: 1. Support zone has been marked on the chart where price has taken support multiple times in price band of 505-602. Now, the price has come out of this band indicating reversal. 2. It is also observed that price has shown reversal after retracing to 61.8% on Fibo against major bull run from March 2009 to Aug 2015. 3. Trendline drawn on the chart also shows multiple support as marked by arrows. The trendline so drawn also coincides with 61.8% retracement level as mentioned in the preceding point no. 2. 4. However, it may find some resistance in price range 710-715 as marked on the chart but price actions suggest that this resistance should not prove major hurdle. 5. Stochastic RSI is indicating oversold status with bullish crossover as marked on the chart. In view of above, it looks a good positional long opportunity with stop @ 578 (swing low) with target @ 950 (major resistance above). Happy trading.....
NSE:GLENMARKLong
by DEVERAMA
RELIANCE : WOLFE WAVE : NEXT IMP. LEVELAfter continuous 3 downside impulsive waves now the RELIANCE chart has made a Wolfe's Wave with a beautiful breakdown of bottom line. Furthermore, according to Price Action, RELIANCE has form a good reversal pattern by making a HIGHER LOW and gave a good closing near previous SWING HIGH. And if the STOCK now moves above its previous HIGH then it will enter into the channel again and according to Wolfe's Wave the Target for the Stock will be the upper Incline Line. But there is a very very important level which can show a resistance to the STOCK which I have market in CHART with RED COLOUR.
NSE:RELIANCEEducation
by nitinrajput2208