Stockstowatch
Megaphone Top in Bajaj Finance Daily.The chart pic above clearly shows a megaphone top formation on Bajaj Finance Daily Charts.
The arrows marked explains the probable trend. One needs to trade as per the price action upon Breakout above the trendline within the pattern or breakdown below the pattern support.
HDFC Buy at 2535 , can give up to 37% move I will look at buying HDFC because :
It is at the resistance and that resistance may act as support .
If it does not break resistance look at shorting
Entry : 2535
Target : 3462
Stop loss : 2139/1650
APPLE : READY for TRIANGULAR THRUSTAfter the formation of bullish triangular structure with wave - e , as a final setback , stock has successfully crossed the level of wave-d . One should go long at current levels keeping the Stop loss below the level of wave-d (120$) or the lows of wave-e (112$)
The target level should be the recent highs that is 138$ and post that level the triangular thrust measurement which is the region of 144$.
Don't forget to go through the previous examples of triangular thrust. Below are the links available.
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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