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Shark

MARUTI SUZUKI PRICE ACTION ANALYSIS. LONG IDEAMaruti's price has fallen significantly recently. This pattern is perfect to be called a Shark pattern. After a second impulse, the correction went too deep and is expected to be reversed from the PRZ. This is XABCD bullish shark pattern has extensions 0.886-1.13 which form the potential reversal zone (PRZ). We can also a downtrend line is broken, but for confirmation wait until the price breaks the supply zone. Any rejection from the supply zone might throw the price near the demand zone. Buying from a PRZ gives us a high risk-reward ratio. The stop loss and target levels are mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:MARUTILong
by Sanjan91
BPCL FELL 10%! WHERE TO BUY AGAIN? BPCL had an event today, where the dividend was issued. The dividend was 58 per share. However, the stock price fell so much as 10% in a single day, and that too in pre-market minutes. There will be a long unwinding as a consequence. If the price manages to stay below 445, it could come down to the demand zone which is also a PRZ of XABCD bearish shark pattern. The levels are mentioned on the chart. If the price rises past the 481 level, then the previous idea which I had published may work. Happy trading :) This is just for educational purposes.
NSE:BPCLLong
by Sanjan91
TATA ELXSI'S BEST BUYING ZONE. BULLISH SHARK PATTERNTata Elxsi has outperformed its peers over the year. Everyone's looking for the right entry to buy the stock. Now's the chance to buy the stock if at all it reaches the PRZ/demand zone mentioned on the chart. The stock may exhibit the XABCD bullish shark pattern, which is completed only if the price reaches the mentioned demand zone. Buy in the demand zone and place stoploss below the demand zone on the price closing on daily timeframe. The targets are mentioned on the chart. Happy trading :) This is just for educational purposes.
NSE:TATAELXSILong
by Sanjan91
Reliance Industries tests the demand zone before the results dayReliance Industries are out tomorrow. The stock has fallen more than 3% to test the potential reversal zone of the harmonic pattern XABCD or the demand zone. As we can see, in the last hour price has bounced off the zone with good volumes. The price has to stay above this zone or else it could test 2500 or even lower by the long unwinding. If sustained above the zone, could even take out the ATH. Shark patterns often come when the corrections are sudden and deep, which is perfectly suited in this case. Maintain strict stoplosses though. Happy trading :) This is just for educational purposes.
NSE:RELIANCE
by Sanjan91
ICICI BANK MAY HAVE A CORRECTION. RISING WEDGE PATTERNICICI bank's price has been forming a rising wedge pattern which has got broken today. According to the height of the pole and XABCD bullish shark pattern, the target is set at 647. The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall. The stoploss here is to place at C according to both the patterns, which is not a good risk-reward ratio. So, try to buy when the price falls to 647. Happy trading :) This is just for educational purposes.
NSE:ICICIBANK
by Sanjan91