Stockstrading
PRESSMN: Very bullish structure1. Big rounding bottom pattern
2. ATH breakout
3. Risk reward is 1:6+
4. Best entry triggers at retest
5. 5 years Breakout (probability for 2-3x returns)
BIOCON: from swing to positional both set up appears on it1. False breakdown to trap sellers and price is back to above support
2. Have been in downtrend from a very long time, so a good pull back can be seen for swing trade perspective
3. If hold for long term, then considering the SL below the support and target at ATH, risk to reward is very lucrative.
reliance break or back from 2300 ???2300 is major support.
strong hammer near support indicated buyers want to push hard upside
trend could be change to positive side.
this above term will satisfy,if 2350 above green candle should formed
we can easily check with tgt -2400\2600\2760
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if 2200 break than wait for other one red candle
follow with 2150\2000.
*hammer from base strong indication for trend will be change negative to positive.
tgt will set from support to resistance.
also known as trend reversal setup
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if 2200 break than wait for other one red candle
follow with 2150\2000.
*education purpose only
plz confirm their financial advisor before buy
=thanks=
BPCL: Inverse Head and Shoulder reversal Inverse Head and Shoulders Continuation:
This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder.
At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head.
The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies.
Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern.
However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern.
After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above.
The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline.
TRADING STRATEGY:
Buy on cmp add on dips , keeping SL of 320 look for the measured target of 415 and beyond that targets are 443 /500 as per ElliottWave perspective.
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Tatasteel will take support at 100After stock split on tatasteel it was gone to over buy.
So after overbuy it will take correction at 100 or 98. even it has tried to break out 200 EMA and may be its confirming by correction.
Lets see it will be bearish for September 2022 and then will be time to invest or buy
Lets' wait and watch