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🔰 CholaFin | Amazing Parallel channel🔰 MY thought process : ⭐Amazing channel pattern, as historic data says: it comes to this trend line ( supportive one ) takes support and goes back to top one :) ⭐Buy low - Sell high type strategy it is :) well if it breakouts the channel that's a bonus:: hold a little more :) ⭐Risk: below the previous candle low and TGT 1 can be top of the channel. 🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :) Also keeping an eye on JSW steel too seems bullish to me :) , All the analysis already posted :) 🔰 {Some info} ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. <<<<<>>>>>
NSE:CHOLAFINLong
by Averoy_Apoorv_Analysis
4
AMBUJACEM ON 15 MINS CHARTAmbuja cement has been trading in a Rangebound market for a long period of time. Zoom in on higher time frame and we can look that every time when the price of the stock comes near resistance, there’s a good reversal happening. Historical data suggest that same might repeat again only if there’s a good volume. Also to check how much this trend can continue we used Fibonacci extension and we plotted that the 61.8% level and resistance level are around same price level. That means the reversal chances are still high. If stock open flat or with gap down wait for reversals pattern formation for short trades.
NSE:AMBUJACEMShort
by Trademint08
6
BURGER KING MAY TAKE SOME SUPPORT AT THIS BUYING ZONEBurger King is on the roller coaster ride since it's IPO listing. It met our Target of 200. went till 219 and now trading at 157 with consecutive two lower circuits. As we have very fewer historic data to analyze the technicals...We can focus more on psychological levels here. 130 to 145 is the 1st level of buying zone where stocks will be transferred from retailers to smart money. A small quantity can be added here. 15% of stocks are owned by retailers so Smart Money will accumulate these shares from 100 to 200 levels. We might see multiple waves in the coming time and then finally Burger King will trade at a fair price. I will recommend fishing (buying stock) wisely at the right level. This fall will open good entry points.
BLong
by TraderHercules
4
IOC brilliant chart for medium termMultiple things to note on this chart. 1. The stock formed a good base at 71-72 levels. Tested twice and the levels acted as a good support. In the chart this is indicated by the black line drawn at support. 2. The stock then formed higher highs and higher lows indicating that the stock is in an uptrend. This happened for almost 6-7 weeks. 3. Now, historical data shows that the support had previously taken very strong support at 83-84 levels. It tried to break these levels on almost 4 occasions (weeks) but failed. Also, we know that a support line then acts like a resistance. Indicated by red trendline. Can it break this resistance of 83-84 levels this coming week? Some of you might say that it has already broken the resistance on weekly close but the volumes don't look convincing to me so I would wait for another session and see how the formations are on a daily chart. Trade idea: If the resistance is decisively broken, go long in IOC with levels up to 90 (first) and 96 (second) as Targets. Please look at the "related idea". I had given an idea on IOC and that was very successful. Please give me a like and follow. Cheers!
NSE:IOCLong
by sankatradesindia
Brief Recovery is part of the Head & Shoulders pattern!In the previous Head & Shoulder alert that I had raised in mid February, I had stated that the market was heading lower, and that it can test 10030 on March 8th. However, that process got a little delayed and today on 20 March it has come near. Please note that, to play out a perfect Head & Shoulders the left shoulder needs to be repeated, but in different colour. If you see green candles on the left, they will reflect in red colour on the right side! If you note the two ecliptic spots on the left and the right, it is all but certain that there could be a minor rally. Experts say it will find it difficult to go above 10200, but I think, it can climb up to 10300-10400 levels from where it can resume its southern journey again. Well I do not have historical data to prove if right shoulder will perfectly reflect the right, but looking at the RSI chart of the Nifty as well as Bank Nifty (and many of its component scrips), it looks like we are in an oversold zone, which could mean a claw back for a couple of hundred points. Almost all the negative factors for the moment (US interest rate, trade war, oil prices, LTCG etc) are priced in, but over the medium and long term, the political factors will dictate the future direction of the market. But looking at the way BJP is seeing reverses in elections, the opposition's re-united stance (if SP & BSP can come together, then even Shiv Sena and CPIM can!) and Karnataka Congress's major religious move could mean tougher times for the BJP and the market heading up to May 2019. But that is a bit far away, let us focus on the immediate period of say, a month.
NSE:NIFTY
by Gem23