As this is a weekly chart, trade may take some time. Consider it a swing trade.
Imp: Look for a bullish candle near 303 on daily chart and go long just above the high of that candle. Wait until bullish signal.
Although I presented the trade on weekly chart yet it would be small swing trade which may take just few days to either hit the targets or stop loss. Partial or full profit booking at first target could be done as overhead supply may hurt the upmove. Some might disagree with my Cypher pattern so I urge them in advance to take it easy :)
All nitty gritty details...
There is double bottom and RSI divergence seen on the chart.
Currently a short term trendline is broken on the upside. Some pullback might be seen for retest.
If this Bat plays, we may get 348 and 360 on this stock.
Technically the bat will be active above 344.
This idea is aggressive, proactive and involves risks so apply your own due diligence before...
Technical : There are 2 patterns in the chart for 1hr
KEEP AN EYE ON
1. Flag pattern
2. Double Bottom Reversal
3. RSI Divergence
The breakout was confirmed on 12/11/2018 11:15am Candle @183
Technical Target : 207
(Fundamental Medium Term Target 250)
(Fundamental Long Term Target 300)
1.Total (Mkt. Cap) : 899cr
Yes, I'm Back to Tradingview !
Before the analysis, I want to thank each n everyone of you for all the love, Thank you so much for your messages & people who gave follows even when I'm not available. Thanks for the Trust & Love :)
It has been more than 100 days since I posted & from now on I will try to post more often.
Now Our Nifty analysis :
Let me put that...
Today's big Black candle which engulfed the last 2 candles and closed at lowest level is showing the forthcoming weakness. It is also showing bearish divergence in the overbought Zone. One can short the stock at the level where Stop Loss of 1102 on closing basis is affordable to them.