Long on Tata Steel. Reason for trade:
1. 200dma ( Good location)
2. Comtinous HL structure and first time HH structure formation.
3. Good breakout volume.
Note: Trade only for education. Don't take it due to my view, I am not a SEBI registered analyst or service provider.
In monthly time frame stock is in uptrend ,HL structure is intact. Which means
stock is in correction of monthly Time frame
in weekly bullish flag is in formation.
So we will wait for structure change and clear breakout of flag pattern In weekly time frame.
IF BO OF LH SUSTAIN, ONE CAN LOOK FOR BUY ON RETRACEMENT. WITH SL OF LAST LL.
OR
U CAN CHECK FOR...
Will try to make some position in Asian Paint once it breaks the 1hr trendline. Reason for trade:
1. Support taken at long term trendline.
2. LL LH structure is broken.
3. Daily trendline is broken.
Note - This is my personal view only for educational purposes and I am not a SEBI registered expert. Follow your financial advisor for any work in the stock market.
When we start trading stocks in the beginning we all run around indicators thinking that it is the holy grail of trading and after that losing hell tons of money and 90% of people who lose their 90% of trading capital in 90days leave the markets and say it's gambling but the rest 10% stay and staring learning about markets But unfortunately almost 99% information...
28-May-2021
NSE:RELIANCE
Reliance looking good for targets 2200 & 2350
Reliance has been consolidating within a band 1830 to 2230 for quite some time. The volumes since last two sessions appear encouraging.
Today its started an small up-move that may likely take it to 2116, 2200 & maybe even 2350 in the coming weeks.
As you can see in this chart History price pattern
repeating itself.
But little bit changes in structure size. That's why we have to analize charts in different Time Frame. So that we can use as structure-trade
It is for only education purpose. If you like this Follow & Like to get updates.
Do Self technical analysis before investing.
As you can see in this chart History price pattern repeating itself.
But little bit changes in structure size.
That's why we have to analize charts in different Time Frame.So that we can use as structure-trade
It is for only education purpose.
If you like this Follow & Like to get updates.
.
Do Self technical analysis before investing.
