Bullish airtel .. long with SL 520
Bharat Forge seems profit booking
Reversal Points 38% monthly retracement -1255
Only for educational purposes BANKNIFTY made bearish crab harmonic pattern Price goes up then short
As you can see, weekly charts did gave reversals and it created a support near the marked green zone. It is still in the reversal zone and it will be interesting to manage this trade. Hope the views shared helped trade on both the side of the stock.
The move came very fast till 700 levels. Interesting to watch the 710 CE & 690 PE for straddle. Continue to maintain the bearish stand on Tatasteel
Well here is a view on BNF Weekly charts. Though we are eyeing the BNF reversal, but based on the 4 points pattern the possibilities of the numbers in 32450+ and 33500 cannot be denied. This levels justifies the pending levels in HDFCBANK and ICICIBANK Charts. Historic resistance channel lower end has been take out as of now.
Here is a view on Monthly Chart. We are expecting the stock to hit some resistance around 2450+ however based on the weekly view already shared, we cannot deny the possibilities of it hitting 2550+. So stay cautious and limited on your investment as it has to close positively above 2650 to go heavy on this stock.
The stock has shown very nice and Long Up Move since 2018. It still has a potential to run for another 200 to 300 Points till 2550 to 2600. Post that it can see a good reversal or retracement. The Green zone marked can act as an support for the current up move. This same can be used as an SL for the current up move that we have.
Overall the stock has multiple resistance on top side. Max topside is 550 to 565...Monthly chart reversal s already due. Every rise is an opportunity to sell.
On the daily chart a Bearish Shark harmonic pattern has formed
DABUR COMING NEAR HARMONIC BUY ZONE DABUR BUY @ 484-486 SL - 474 (1HR CANDLE CLOSE) TARGET - 492, 498, 505 POSITIONAL CALL - HOLD FOR 3 TO 6 DAYS
As per harmonic pattern potential buy zone is near 137.50- 137.80 with SL 137