The price action just filled the previous gap down space and now indicating weakness due to long upper wick. The last candlestick that had long upper wick also known as Gravestone Doji, a trend reversal pattern, that suggests rejection of higher prices. It is wise to short at current levels with stoploss. Target 1: 309 Target 2: 301 Stoploss: 332
GodrejInd is giving a Short Setup.. Stock gave a 5 wave decline from 542 to levels to 387 levels in Wave A and has since retraced backed to 78.6% fib. One can go short on the stock at current levels with stoploss just above 453 and Targets of around 380 and 350 wave Wave C. Details are on the chart. Happy Trading!!
Inverted ascending scallop in sight B-A = height Height * 61% = Impulse Impulse + B = Target Price Summing Up all final value is 9192.89
wait for a break in the neckline first, be wary of a pullback to the neckline before shorting. stoploss would be 21.5 tp1 = 18 tp2= 17.3
ACC is giving a Short Setup.. After a large rally ACC gave a 5 wave decline correction from 1740 to around 1590 Levers after which it has moved back up again in what looks like a 3 wave corrective pattern indicating that it will go down again for a Wave C or Wave 3 correction down. One can short the stock at current price levels with stoploss just above 1740 and...
Wave 4 is well within 50% Fibs of wave 3 but a gap up open may spoil the plan, but if we get proper open in our zone and valid confirmation, we can enter short positions towards 490's. Tatamotors chart almost looks similar to our Nifty. Happy Trading !
Nifty is at the stage of finding strong support. The strong support is available at 8529 / 8515. The nifty can be short at this movement. The effect of same can be seen in stocks too.
The chart of CNXPharma suggest it ll move downwards and take most of the pharma share down.
We had very good move after the ascending triangle breakout, booked some great profits out of it and now BHEL is retesting the resistance, so I'm planning to go short if we get bearish confirmation, I'm not sure what will happen on Monday, if we get Gap Up in BHEL bcos of Nifty better we can re-think this entry strategy. If it opens in one and once bearish...
Hi Guys, We have simple bearish trend continuation setup and TECHM is facing some good resistance around 500 levels, as per my trade plan its good to go short from here with targets around 480's. Hit Like button to keep me motivated to post more ideas...Thanks for your support ! Happy Trading !!