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JSWENERGY, STRONG BULLISH BREAKOUT (CHART# 329)Long above 61.5 Patterns:- 1. JSWENERGY has given breakout from its long term resistance zone around 60 2. It has also given breakout from mid term trend line (blue) 3. It has formed cup & handle pattern and given breakout from it (blue) 4. It has horizontal resistance at 61.5, above which it can move good in coming days. This is good for both positional and intraday if manage to sustain above level. Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Thanks Piyush Gupta
NSE:JSWENERGYLong
by Piyush-Gupta
6
AUROPHARMA, BEHAVIOUR OF SUPPORT & RESISTANCE (CHART# 328)Support & Resistance zone are inter-changeable. Levels which acted as support can act as resistance in future and vice versa. Same is very much highlighted from this AUROPHARMA chart where 850-855 acted as support multiple times and now acting as resistance multiple times. Above 855, AUROPHARMA can move up. Keep on your watchlist. Check my previous charts to understand few basic things that we have to see for price action based analysis. Happy learning & earning. Thanks Piyush Gupta
NSE:AUROPHARMALong
by Piyush-Gupta
12
SBICARD, STOCK BEHAVIOR STUDY (CHART# 296)This chart is for demonstrating how each stock have its own characteristic and study of past behavior of stock can greatly help us its momentum in future. SBICARD has followed a series of flag patterns and breakout which witnessed volume spike and then consolidation. Over repeated pattern formation, SBICARD is slowly fading out as height of its move is gradually decreasing. Using price action analysis, one should always look at its past behavior to shortlist high probable setups. There are stocks which follow fibonnaci 61.8% retracement repeatedly and using this past behavior information is very useful in placing high RISK to REWARD trades. 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. Cheers! Piyush Gupta
NSE:SBICARD
by Piyush-Gupta
38
VOLTAS, ANOTHER BEAUTIFUL PRICE ACTION (CHART# 295)VOLTAS has closed at breakout level and looks bullish abv 582 (small hurdle at 587). Looking at previous history of VOLTAS, this stock move well after confirmation of BO. So this should be on radar for next few days and if it sustain abv 582-87 then it should show good movement. 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. Cheers! Piyush Gupta
NSE:VOLTASLong
by Piyush-Gupta
41
Maruti Inverse H&S in Daily ChartInverse H&S formation in daily chart, neck-line at 5,600 levels, targets of 5850, 6080 & 6,450 stop below 4,880; pattern target is 6,800; RR 1.66. RSI divergence (Bullish) is observed in daily charts, currently RSI is neutral but is likely to move into bullish territory if price sustains and moves up from current levels. Alternately as stock is NR7 + IB in daily chart (23.04.2020) close entry may be considered above 5,250 with stop below 4,880; RR 3.25. BOF of short trade is most ideal.
NSE:MARUTILong
by avinash.gpb