After fourth attempt 29700 Leval with the highest volume on 2 Sep. now stock are retesting his level and showing us green candle + 50 EMA Support
For F&O Buy Above 50 EMA Oce Future And Sell 30500-31000 September CE For hedging purpose, After Expiry book your profit or Sell 31000 Oct CE for sefty.
Stock seems in impulse wave 5 and the previous supply zone should act as demand zone on retracement. That would be good entry for 0.618 and 1 fib level target as shown with fib low level as stop loss.
Cement sector as a whole has been subdues in the ongoing bull run. There is also decent accumulation in the price band of 26500-27900. As per the specifics and fundamentals, there is going to be some moderate buying in this sector owing to the RIGHT PRICE.
I would suggest to invest in future and hold till September. Don’t put SL, instead buy if it comes to levels...
#shreecement selling with high volume since a week. Momentum and trend in short term is bearish.
another red below the support zone where it is currently good give a short opportunity
that could more than 10%.
Break out with Good volume - Confidence
Next candle with big WICK with heavy volume - Shows the Buying is still absorbing selling
Next two candles Profit booking Because there are big candles but no Volume - Sellers are not Aggressive
So that's the reason for the entry now also is a good one
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
buy above 29515 for swing/ Intraday
for swing trade keep stoploss 28500
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical...
All details of analysis are on the chart..
MACD and RSI are at great levels too for both daily and weekly timeframes..
the superimposition method is just a way to estimate the timeframe of price movement and is not indicative of how the actual price movement may happen.. Be Aware of that..Also, timeframe of trade will be less or more than my estimate.. I don't...
