PF Short good Risk/Reward possibilityStock so far is respecting the Pitchfork so a short is possible at current level with SL of 273 and target 240.
Riskreward
Very rare candlestick pattern formed : Short TatasteelTri Star candlestick is an extremely rare pattern . In my 10 years of trading experience i found only one in EOD stock charts nifty stocks allowed in Future. Since it happened to me only once I have no prior experience of its performance however one can short the stock with very small stop loss of the 432.50 on closing basis.
Short TATACHEM at UML PF tradeThe stock is showing good frequency at the MLs so one can short at current level. The trade offers a good Risk to reward ratio even for the first target.
Channel Reversal pattern at the bottom IDFCBANK LongThe stock has formed a channel at the bottom and gave the breakout so a trend reversal long trade is available at good risk to reward ratio.
Flag pattern formation Havells India LongThe Stock has formed a beautiful Flag pole and consolidating forming a flag. One can see a breakout in coming days closing above the flag gives a beautiful long entry and one can look a target of above 490 on breakout. It gives a good risk to reward ratio. Specially this flag formed a good flat base which performs better. I would go long i when it starts trading above 455 with stop loss of 445 for a target of 492. Wishing you good profit!
BHEL : Bearish Trend Continuation ! We had very good move after the ascending triangle breakout, booked some great profits out of it and now BHEL is retesting the resistance, so I'm planning to go short if we get bearish confirmation, I'm not sure what will happen on Monday, if we get Gap Up in BHEL bcos of Nifty better we can re-think this entry strategy. If it opens in one and once bearish confirmation is seen, then we can short Bhel aiming for 132 levels.
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Happy Trading !!
