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Britannia forming Morning star Pattern at major support & VolumeHi Traders, Britannia forming Morning star Pattern at major support with good Volume. Bullish View on stock due to below point: 1) Britannia has taken support at major support (22250-2400) ,which was major consolidation / support zone in Jan -Feb 2018 times. See chart for more detail. 2) It has form reversal pattern of morning star candlestick pattern with good volume. What Indicator are says: 1) RSI out of oversold position & RSI above 40 will take stock out of bear control. 2) Stochastics RSI has make advance breakout , which tell bull control in near term. See chart for more detail. Target : T1 : 2620 (Book 50-70 % as per risk capacity) T2 : 2730 -2830 zone. (Book remaining 20 % profit) T3: 2930 zone (Hold remaining 10 % & can add new position if stock sustain good period of time above 200 sma) Strict Stoploss : 2300 low of Morning star pattern Happy Learning ); Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
NSE:BRITANNIALong
by karanwealthape
Kajaria Ceramics : Positional ShortAfter a sustained upmove, stochastics is showing bearish divergence on weekly charts. Its a perfect short on positional basis for a target of 515/500/485/470. On daily charts it has already given bearish crossover. Weekly charts shows a bearish engulfing kind of pattern. If Nifty corrects then counters which has seen highest upmove in recent times will see a correction. Its safe bid to short it with a stoploss of 560 on closing basis.
NSE:KAJARIACERShort
by TradersVenue
Tatamotors a good long term candidate?Tatamotors gave a very good breakout near 172 levels and seen the 186-188 levels after making head and shoulders in daily charts. However it declined 6-7 points on last trading session. Is it a technical correction or heading for a major slump? Head and shoulders and Fib extension suggests an possible upside of 205-207 whereas slow stochastics suggests a bearish view. But basis the current trend, Tatamotors is an good potential midtterm long candidate with a target of 200-205. Good to go long on declines near subsequent Fibonacci retracement levels 178/175 or upon recovery. Hedge your positions properly to avoid damage to your portfolio. I would recommend check with your financial advisor before taking a trade.
NSE:TATAMOTORSLong
by TradersVenue
2
Maruti - Long Entry - Positional TradeLong entry in Maruti 27th Sep Futures at 9166 on 31st August - CMP is now at 50% retracement of the rise from 8255.5 (21st May) to 9929 (24th July). To me this seems like the ABC retracement of Wave-V is over and a new Wave-I could be starting. Some consolidation could happen of course, before it rises. (See Daily Chart on right) - The Daily chart shows very significant level of support at CMP. Plus this is currently also at the bottom of the Ichimoku Cloud which provided support on 31st August. (See chart on right) - The Weekly Chart low in mid-August bounced off the top of the Ichimoku Cloud and is now resting on the Kijun Sen Line. (See chart on left) - Daily Stochastics have been gradually rising since mid-August from extremely low levels - So there seem to be a confluence of factors supporting my decision to go long - Max Call OI is at 9500 and 10000 with significant additions at 9300 strike. Max Put OI is at 9000 strike. (31st August). These numbers could form the basis for setting targets and SL - Immediate targets could be around 9450-9500 and SL below 9000 or even 8800 on closing basis - I have been closely tracking and trading Maruti since the last week of May. It seems to be following the Elliot Wave structure very clearly till now on the Daily Charts. Based on my earlier analysis posted here, my positional trades turned out very profitable.
NSE:MARUTILong
by fcsa
Maruti - Positional LongMaruti seems like good long positional trade. I am long in futures market since 8900.In my previous chart I had explaind that I was waiting for a bounce from about 8873. On 3rd July I entered long. Immediate Target ~9600. SL below 9000. Maruti put OI has max addition at 9000 strike and call OI has max addition between 9400-9700 strike. These could form the basis of SL & Target. Also ref to the fibonacci levels on the chart for target/SL. - Daily chart shows that 200 MA was support for some time. Now it has decisively bounced off that line (purple line on chart) - Today's daily candle (4th July) has touched the Upper Bollinger Band (2 std dev). That usually results in the candles climbing along the upper band for some days. - Daily chart shows Chikou Span emerging clear from all congestion on the Ichimoku Chart. ADX is 13 which is low but that has great scope to go up. And D+ has clearly crossed over D- - The Weekly chart shows this week's developing candle has taken support at the top edge of the Senkou Span in the Ichimoku Cloud and the Stochastics are crossing the 50 line. That looks good. There could be some retracements obviously (so please be careful) but I will hold my long position for some time since I am going by the weekly and daily charts only and have traded long (with some profit booking) since May 30th when I posted my earlier Maruti chart.
NSE:MARUTILong
by fcsa
USDCAD - H1 - Long - Opportunity with Good Risk RewardIn Hourly, price closed near the price range that acted as a support during the day. 1. USDCAD did a breakout and then pulled back to 1.30790 Levels on weekly charts. 2. Price has a nearby support of 61.8 % Fibo Level on Weekly. 3. Stochastics - Oversold on Hourly. Lastly, risk and reward is pretty favorable, I will wait to see how it reacts at the opening and take a call. ----- Note ------ Position Size: 2% Risk or less ALWAYS. CANNOT RISK MORE. Support/ Resistance/BUY/SELL/SL/TP Prices are ALWAYS RANGES and Not Exact Prices
Long
by PawanThakur
YES BANK - Time to go longGood time to go long for a positional trade. SL below 325 on closing basis. Then just wait for a surge up. Targets could be 341/351/365/370 etc (futures prices July contract). - Yes has been taking support at the 100 MA for the past 4-5 weeks. - Stochastics look good. - MACD (daily chart) showing signs of a bullish crossover - Inverted Head & Shoulder formation still valid with price at the shoulder currently. Neckline is at about 370 (futures price July contract) Ref to:
NSE:YESBANKLong
by fcsa