Mind tree can be sold for the target of 448 and with the SL of 471
Although the stock is in down trend and even in the bull market it is making lower low but a short term long trade is possible on the basis of today's Bar which offers good risk to reward ratio. One can buy the stock for a target of 400-410 providing the stop loss of low of today on closing basis.
Arvind is giving a potential short setup on daily chart with Wave B up move completing at 61.8% fib levels and Wave C correction starting now going around the targets of 300.
Bearish divergence + MACD Crossover Weak volume in trend. potential shorting candidate
With reference to learning series of Action/Reaction one can observe how these forthcoming lines work.
Bearish divergence in RSI and MACD. and MACD crossover. Target around 163 Alternatively you can purchase OTM 165 put option @ 2.6
TARGET1 164.25 SL 170.93 TARGET 2 161.17 SL 170.92
It has been observed on the 30 mins chart of GBPUSD that the price is at an important resistance level which has held well in the past along with an MACD Crossover. Entry: 1.2649 to 1.2666 Target 1: 1.2591 Target 2: 1.2534 Target 3: 1.2468
AuroPharama is giving a Potential Short setup for Wave C down for ABC correction. One can short at current levels with stoploss just above 731 and Target around 670.
A bearish cypher seems to be emerging on the FX_IDC:USDMXN 4 hour chart. A limit Sell order can be placed at 21.7887 Target: 21.4403 Stop: 22.0654 A 1:1.26 Risk Reward Ratio
I do understand the concern of shorting a stock in such a bull market however I do prefer to be market neutral to protect myself for unexpected fall. The stock has formed a Roof pattern so could be shorted here or on little higher price with stop loss of 160. One can expect the level of 138 and 125 as target.
The Price movement is forming Broadening Formations(Megaphone) Right-Angled and Ascending . Last time it has retested the level within 7 Bar and moved down till the other end. Interestingly it is forming the similar move again Let's see if history repeats. Anyway the pattern is picture perfect, Stop Loss is affordable and Risk to Reward is attractive what else...
ITC always suffers due to budget. Increased taxation on cigarettes is expected this budget, as every other budget. ITC also has tested resistance again. And a powerful bearish piercing pattern with above average volume. Short futures or buy cheaply ppriced OTM puts for quick profits after budget.
Apollo Hospitals CMP - 1232.05 SL and Target marked on the chart. Reason - It's in downtrend, and trend continuation is what I follow as it provides a good R.R.R. ( in this case 1:4 ) Here, prices have trended down, consolidated, can be expected to move down more.
Sanofi will form a pattern of flag and it will be fly above to touch the target of 4501 in coming day.
Continuing from the awesome prediction of nextgen sir ( see in related ideas ) ; maruti suzuki has again faced resistance at that level with full down candle. Short trade can be placed with the high of the candle + cushion as stoploss.
Tata Motors - 1. Here you can see, NSE:TATAMOTORS is on resistance on daily trendline. 2. Also, you can see the earlier resistance area which might turn out to be support and help in breaking out of the downward sloping trendline. 3. Otherwise if it doesn't find demand, we may see levels of the previous swing lows. 4. There's a divergence with the OBV...
Hindalco has formed double top on closing basis on daily chart. Short can be initiated below the drawn support line in Red. Possible targets are drawn in Green line. It has also formed 'Weekly Bearish harami' and 'Three inside down' candlestick pattern.