BATAINDIA has made -ve 3Star Candle Stick Patter with Bearish RSI Divergence, seem like after burning many hands its thinking to go short.
Entry : Strong Closing Below Red Line
Stoploss : 1430 (Closing Basis)
Basic Target: 1330
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HI TRADERS THIS IS MY 3RD ANALYSIS AS PER ME PC JEWELLERS ARE BREAKS THE RESITANCE AND CAME DOWN . IT IS BREAKS AGAIN GO FOR LONG
WAIT UNTILL RESITANCE BREAK . RISKY TRADERS GO LONG . THIS IS PURLY MY OPENION NOT FOR ADVICE . THIS IS FOR EDUCATIONAL PURPOSE ONLY FINAL DECISION IS YOURS .
Mos completed a HS Formation with the break oft the neckline.
Midterm target is 20.00-23.75$. Lots of Long term and mid term supports there. Profittarget of HS Formation is the distance from neckline to the top of the Formation.
There is a divergence between nifty and bank nifty. Similar divergence appeared in nov 2010, at that time nifty retraced back to 38% to 50% zone of it previous trend. Similar behavior is likely is current situation.
APOLLOHOSP has given weak breakout of Channel Drawn(By Menka), May result in False Breakout!
Entry : After Closing Below last candle ,look for shorting from Given Red Zone Near.1250
Stoploss : 1285 (Closing Basis)
Basic Target: 1200 Then Trail till lower white Trend line
A Good read for all : why-teamwork?
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