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Gujarat Mineral Development Co.Ltd. - Up-Flag on Daily ChartThe daily chart of GMDC was in a consolidation of one month since 12th May 2021. This consolidation was preceded by an impressive rally. Price gave an upward breakout to the consolidation on a daily candle dated 11th June 2021 and closed at Rs.78.25. This breakout is supported by massive increase in volume. Here I anticipate the price target of Rs.103 in a time frame of about 12-15 daily candles. I suggest the stop loss at Rs.75. The resultant risk-reward ratio is 1:8. The stop loss level of Rs.75 should be followed for the 4 daily candles starting from 14th June 2021. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever happens earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be solely at the risk of the investor.
JK Lakshmi Cement Ltd. - Up-Flag on Daily ChartJK Lakshmi Cement is in an uptrend. After the sharp up rally from the level of Rs.397.50 the chart went into the consolidation. The price gave an upward breakout to the consolidation on a daily candle dated 7th June 2021 and closed at Rs.572.25. The breakout has a support from increased volume. I anticipate the price target of Rs.695 . I suggest the stop loss at Rs.557. The expected risk-reward ratio is 1:8. The stop loss should be followed for the first four daily candles starting from 8th June 2021. Thereafter the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea shall be solely at the risk of the investor.
Gokaldas Exports Ltd. - Up-Flag on Daily ChartGokaldas Exports, after an impressive rally, went into the consolidation. The price gave an upward breakout to the consolidation on a daily chart on 3rd June 2021 and closed at Rs.148.65. The breakout is supported by increased volume. I anticipate the price target of Rs.189 and expected time frame for attainment of the price target is 11-15 daily candles. I suggest the stop loss at Rs.141. The expected risk-reward ratio is 1:5. The stop loss should be followed for the first 4 daily candles starting from 4th June 2021. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment based on this idea, if any, shall be at the sole risk of the investor.
JSW Energy Ltd.- Up-Flag on DAILY chartJSW Energy is in an uptrend. During this uptrend the counter went into the consolidation from 11th May 2021. The consolidation was preceded by an impressive up rally. The price gave an upward breakout to the consolidation on a daily chart on 1st June 2021 and closed at Rs.126. This breakout has a massive volume support. I anticipate the price target of Rs.156. This price target is expected to be achieved in around 13-18 daily candles. I suggest the stop loss at Rs.120. The risk-reward ratio is 1:5. The stop loss should be followed for the first 4 daily candles. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment based on this idea, if any, shall be at the sole risk of the investor.
Kirloskar Oil Engines Ltd. - Up-Flag on Daily ChartKirloskar Oil Engines was in a consolidation which was preceded by an impressive up rally. The price gave an upward breakout on a daily chart to the consolidation and closed at Rs.237.40. I anticipate the price target of Rs.272 and suggest the stop loss at Rs.223 to be followed for the first 4 daily candles starting from 27th May 2021. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
Container Corporation of India - Up Flag on Daily ChartConcor was in a consolidation for last 2.5 months. The consolidation was preceded by an impressive rally. The price gave an upward breakout to the consolidation on a daily chart on 24th May 2021 and closed at Rs.634.55. The breakout candle is supported by massive rise in volume. I anticipate the price target of Rs.792 and the time frame of around 3 moths to achieve the target. I suggest the stop loss at Rs.600. The risk-reward ratio is 1:4.5. The stop loss should be followed for the first four daily candles after the breakout candle. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
SYMMETRICAL TRIANGLE CHART PATTERNA symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
SYMMETRICAL TRIANGLE CHART PATTERNA symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
Jamna Auto - Up Flag on Weekly ChartJamna Auto was in a consolidation of 3.5 months. This consolidation was preceded by an impressive rally. The price gave an upward breakout to the consolidation on a weekly chart and closed at Rs.77.45 on Friday 21st May 2021. The breakout has huge volume support. I anticipate the price target of Rs.97 and the time frame of around 3 months to achieve the price target. I suggest the stop loss at Rs.71. The risk-reward ratio is little more than 1:3. The upside potential is 24% at the CMP. The stop loss level should be maintained at Rs.71 for the first four weekly candles after the breakout weekly candle. Thereafter, the profit booking/ exit decision should be taken on achievement of price target or downward crossover of 26 EMA by 5 EMA whichever happens earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
Short term buy target for andhracement as per chartbuy above iff candle body crosses above 6.15, target as per chart, 15min,5min