1. Cipla price took the reversal from 1.61 level of the last peak on an Hour Chart.
2. Looks like cipla about to make the shooting star formation on an hour chart.
3. It has already formed shooting star formation on 15M Chart with valid Volume.
4.to keep the trading Safe
SELL BELOW: 627 Target: 614 , 597 Stop Loss: 639
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Range for tomorrow's option expiry is from 17200 to 18600
My plan is to sell 17200 PE and 18600 CE
Current premium for 17200 PE is 18 and 18600 CE is 28
Total premium receivable is 46x20=920
This is an educational post
1. Shooting Star Formation on Daily Chart.
2. Recently , At the price of 3278 Double TOP Formation maid by the daily chart.
3. It has close the price 78.6% Retracement Level from the Double Top Level.
4. On Drawing AB=CD Pattern with 78.6% Retracement Level.
5. Assuming D Point Formation at 1.27 level Price comes at 2819.
6. Sell below 3110 Target: 3083,...
I THINK FEDERALBNK WILL GO DOWN TO 40 REGION OF SUPPORT AS TWOMOROW IS ITS EARNING DAY SO BETTER LOOK WHAT THEY HAVE GIVEN IN THEIR DATA BEFORE ENTERING BUT I THINK IT IS GOING TO BE NOT THAT GOOD BECAUSE OF CORONA PANDEMIC SO MOST PROBABLY IT WILL GO DOWN BUT STILL KEEP YOUR EYES ON THE TREND LINE SEE IF IT BREAKS OR NOT AND ON SUPPORT ZONE TOO
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As said earlier in ITC, just followed our levels beautifully,and i told to go long, it gave awesome results,
Now what i feel is to sell from the rise,when? If it slips below 176.3, expect a very good fall.
So short below 176.3 for trgts 170, 165 and 160. Anything...
Weekly chart - Strong buying pressure
Daily chart - Potential double short
Hourly chart - pushing back to tesst top resistance once more
If it rejects this top level again we are in a good way for Double top setup
We will have to wait and see how price reacts to the 143 price level, If you want you can play agressive with a shot pending order on the 143 level...