Chart Of the Week (04 Jan 2021)*Stock has given a bullish Inverted H & S Pattern breakout on weekly chart & closing above neckline .
*02 years long term trend line breakout already happened.
*If we look at the volume part, significant volume activity is witnessed at the time of breakout.
*Price has also trading all the important moving averages.
*Considering all technical evidences we may see good up move in Tin Plate Co of India.
CMP-167.00 RECO-Buy Entry Range-Rs.155-170 Target-225/325.00 Stop Loss- 145 closing basis
Duration- 06 to 09 Months.
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Stocksignals
GODREJCP Buy opportunity taking support at 709I will buy GODREJCP because :
It has been taking support at the trend line .
It has touched the trend line a few times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the trend line downward then look at shorting opportunity .
Entry : 694/709/720
Target : 772/850
Stop loss : 670
JK CEMENT : PALGO signal demonstration HOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position.
4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X.
5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low.
While maintaining the position :
6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position.
Exiting the position:
7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately.
10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal.
No Trading Zone:
11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)
AJANTPHARMA forming a CHANNEL pattern buy at 1638I will go LONG on AJANTPHARMA because:
The price is forming a Chanel Pattern .
The price is also under Support/Resistance zone.
It has touched the support (lower end of trendline ) and may reach the resistance zone (upper end of trendline ) .
Target would be the Resistance area . Book profit when it reaches the resistance zone .
Entry - 1638/1578
Target - 2006
Stop loss - 1539
ABFRL forming a expanding channel BUY signals at 127I WILL LOOK AT BUYING OPPORTUNITIES AT ABFRL because :
It is forming a kind of expanding pattern .
It has been taking the support of the lower trend line .
Now the price is again at its support level so will be looking at buying opportunities.
Entry : 127
Target : 158/161
Stop loss : 119
JUST ON THE VERGE OF A BREAKOUT ON A WEEKLY CHARTS!!!JTEKTINDIA: Has consolidated on lower levels and indicating for a big breakout completing inverse head and shoulder formation with a perfect bullish candle on the weekly charts. Can be bought here if the stock surpasses the current levels, with the targets of 145.
HAVELLS : BUY/SELL Algo demonstrationHOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position.
4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X.
5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low.
While maintaining the position :
6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position.
Exiting the position:
7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately.
10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal.
No Trading Zone:
11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)
INDIGO: BUY/SELL Algo demonstrationHOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position.
4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X.
5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low.
While maintaining the position :
6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position.
Exiting the position:
7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately.
10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal.
No Trading Zone:
11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)
Tata chemical about to give brkoutTata chemical formed descending triangle pattern and is about to brk in either direction with 2 strong demand zone at 480 and 430 levels which will act as support levels.
So after a retracement Tata chemical should again start up move for a tgt of 550+ soon.
Intrady levels
Tata chemical cash levels
Buy abv 507.1
Tgt: 510, 513, 517
Sl: 502
Sell below 499.8
Tgt: 496.7, 493.5, 490
Sl: 505
HDFCLIFE buy signal at 660/630 , Broke its resistanceI will look at buying AMBUJACEM because :
HDFCLIFE has broken its major resistance.
It has high chances of reaching 700-900 levels .
It has broken the resistance and that resistance may act as support .
Entry : 660/630
Target : 700/780/900
Stop loss : 600
SHREECEM Buy signal at 21198I will go LONG on SHREECEM because:
The price is forming a Chanel or Rectangle Pattern .
The price is also under Support/Resistance zone.
It has touched the support (lower end of rectangle ) and may reach the resistance zone (upper end of rectangle ) .
Target would be the Resistance area . Book profit when it reaches the resistance zone .
Entry - 21198
Target - 23350
Stop loss - 20500
GODREJIND forming a expanding pattern , Buy at 376I WILL LOOK AT BUYING OPPORTUNITIES AT GODREJIND because :
It is forming a kind of expanding pattern .
It has been taking the support of the lower trend line .
Now the price is again at its support level so will be looking at buying opportunities.
Entry : 376
Target : 418/447/489
Stop loss : 344
MGL at it major support, Buy at 778 long term MGL has been taking support between the prices 743 and 766.
The price range between 743 and 766 has been acting a major support
for MGL , The price is again at its support level.
So will be looking at going long on MGL.
Entry : 778
Target : 957/1094/1200
Stop loss : 665