Post bottom reversal, the stock has been trading in the Symmetric Triangle in intermediate trend running across weeks. The Triangle was breached with Bullish expectation, and the stock is righ now in tilted rectangle - almost like a flag consolidation amidst a rally. Would be expected to break out and rise with gap.
A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock.
It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami.
1. The market is characterized by a prevailing downtrend.
2. A red body is observed on the first day.
3. The Doji that is formed on the second day is completely...
CMP - 1232.05
SL and Target marked on the chart.
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.
CMP - 942.65
Infy has formed a pinbar on a strong weekly support.
Also, you can say it's a double bottom on recent data.
I have drawn the various levels you should be aware of.
Everything is there on chart.
You can trade accordingly with your strategy.
I'll update the idea whenever I'm watching it.
If you have any doubts, opinion or...
I have choose last fall High-low as important point and first gap down of this correction as my guiding direction point,
If I have choose right point then next move be toward median line to get , which is down, max three to four candles can be now wait , else this possibility should be negated ,
Disclaimer : This is for learning purpose , anyone has view please...
Morning Star candlestick formation on Weekly chart of Century Tex, which is giving bullish trend for short term.
It's a short term recommendation.
Buy Above = 813
Target 1 = 906
Target 2 = 978
Stop Loss = 747
Reward Points = 165
Risk Points = 66
" Happy Trading "