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RBLBANK, PERFECT EXAMPLE OF 6 FACTOR CONFLUENCE (CHART# 298)RBLBANK is forming multi factor confluence for multiple Trend lines along with Cup & Handle pattern which shows bullish nature post breakout zone of 188-190.
Immediate Breakout stands at 188 but safe traders should wait for 190 levels where true breakout from all the below factors will be reached.
1. Cup & Handle Pattern (Yellow)
2. Blue TL running since May' 19 (Long Term)
3. Yellow TL running since Feb' 20 (Mid Term)
4. Pink Horizontal Support Line
5. White TL since June'20 (Short Term)
6. Good Volume
Setup looks good for intraday but as some of these TL are running since long time, this can be positional as well provided NIFTY trend is also bullish. Currently I am not confident of NIFTY as 11100-11150 is strong resistance zone,
FOR MORE INTRADAY RECOMMENDATIONS & CHARTS REACH OUT.
Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
If you receive any benefit from idea, appreciate by your likes/comment. If you earn from my ideas, kindly consider donating small part of your profits to those in need.
Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
Watchout my previous ideas to understand how easy it is to understand price action and earn from it.
Cheers!
Piyush Gupta
PIDILITIND, BREAKOUT POST 4 MONTHS (CHART# 297)PIDILITIND has given bullish breakout along with good volume today from a trend line which is running from March'20.
Above 1445 this should be a good momentum for long run.
Kindly track NIFTY as well to ensure we have trend along with us which will further increase our probability of setup. A simple price action study of NIFTY suggest along with Fibonacci that 11100- 11150 is strong resistance area and till then we can have this bull run.
FOR MORE INTRADAY RECOMMENDATIONS & CHARTS REACH OUT.
Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
If you receive any benefit from idea, appreciate by your likes/comment. If you earn from my ideas, kindly consider donating small part of your profits to those in need.
Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
Watchout my previous ideas to understand how easy it is to understand price action and earn from it.
Cheers!
Piyush Gupta
Stock Positional Idea EquitasStock Has Given Excellent Breakout & after Consolidation phase it started to move.
Now The rally may become in action. Tgt & SL Derived in Chart.
Vaibhav Global new lifetime high & C&H pattern in daily chart.1. Stock has closed firmly above its lifetime high at 1165, C&H pattern is observed in daily chart breakout level at 1105.
2. RSI negative divergence is observed in daily charts, go long on retest & reversal from the zone b/w 1105 & 1165.
Inverted H&S in Reliance in weekly charts.Inverted H&S pattern is visible in Reliance weekly charts neck-line is at 1585; pattern target at 2250.
Entry 1.: One can go long on the stock on dips as long as it holds above 1393 levels.
Entry 2.: Alternatively upon a weekly close above previous lifetime high of 600-605 levels any subsequent pull-back to 1585 level may be utilized to go long with a stop placed below 1393 for targets of 2050 & 2250.