Short! Reliance 3 Drive Pattern Or Double Top
1. Volume Analysis: After 24/4/20 Volume on Reliance day Chart has been keep on decreasing with the rise in price. So, it mean Institutional investor or trader are not bullish on this stock.
2. On 7/5/20 , Reliance Close the price at Up moving 3 Drive Pattern on hour chart and complete the same with 1.26 level ( Near to 1.27 Fibonacci level). Rising Wedge Formation.
3. Today's Close price at major Resistance level from hour chart , It may form A Double Top Formation from here.
3. For Safe Trading Sell Below 1457 Target: 1434 , 1424 , 1400, 1360 ( 1363 will be the 23% Retracement level. If we assume today price is the peak price from the last bottom)
4. Risky Traders - Intraday : Sell Below: 1486 Target 1468 , 1457 SL: 1506.
5. Positional Traders: Please Trail the Stop Loss
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Shortsetup
Amaraja Batteries Negative Divergence on 4H ChartsOne can trade position easily on the break of trend line with your risk reward ratio
As per my Inspiration,Mr Mitesh Patel, When you know the stock is going to fall, dont just keep watching, take some action at least as per your risk capacity.
1) Short in Cash
2) Buy Put
3) Sell Call
4) Short in Futures
Remember to follow Money Management
Trade as per your risk capacity.
Even i am learning along with you.
Dont trade Blindly
SRTRANSFIN At ResistanceSRTRANSFIN look for any candle stick reversal pattern to go short
Levels mentioned on chart
Asian paints- Selling Pressure- Daily ViewThis is a continuation to the earlier analysis of Asian Paints weekly chart
Gann Analyisis of price suggest that the recent bounce tested the 1/8 angle and failed to cross above
The lower level targets as per Gann coincides with important structure levels as well.
BANKNIFTY - expecting a Reversal in upcoming session(s)Expecting BNF to reverse around the RED line.
Can be entered around 20900 Spot, with an SL above 21250 and TGT1 at 20300, TGT 2 at 20000
Disclaimer: These are just my views - do NOT trade blindly with these levels, please do your research before entering.
Note: All the values given are in Banknifty spot price chart
Infy: Chart view & strategyInfy
Observation
675 minor resistance
691 - 696 - Critical resistance zone..
Consider selling if you see price rejection around resistance levels.
Targets mentioned in the chart. Momentum on the downside might be seen if Infy closes below the 1st target of 637
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Alternatively consider selling Infy 28-May expiry 700 Call option
Lot size 1200
Price around 20-25
In built loss protection for a rise in Infy price up to 720-725 in cash market on 28 May 2020.
Max profit potential Rs 24000 - Rs 30000/- per lot
Take care & safe trading...!!!
Follow
Adani Enterprise (pennant and Flag pattern in downtrend)Adani Enterprise has given a breakout from pennant in its downtrend meaning the downtrend will continue from here.
CMP: 134.65
Targets are 117 and 112 with Stop loss (152.45),
Target 3: 80, after falling below 112 you should start trailing stop loss strategy to maximize profit.
After reaching 117 revise stop loss to 134 (sell price), than I would suggest to trade keep this with trailing stop loss.
Let me know If you agree with my idea.