At Support - JINDALSTEL📊 Script: JINDALSTEL
📊 Sector: Steel
📊 Industry: Steel - Sponge Iron
Key highlights: 💡⚡
📈 Script is trading at its support level which is near 765.
📈 Script may take support at this level and bounce back from here.
📈 One can go for Swing Trade or a Positional Trade.
⏱️ C.M.P 📑💰- 808
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Support_level
Resonance speciality: Range bound supportBSE:RESONANCE
Range-bound trading strategies involve connecting reaction highs and lows with horizontal trendlines to identify areas of support and resistance. The strength, or reliability, of the trendline as an area of support or resistance depends on the number of times the price has reacted to it. For example, if the price has moved lower off of the resistance trendline five or four times, it's considered more reliable than if the price only moved off of it two times.
A trading range occurs when a security trades between consistent high and low prices for a period of time. The top of a security’s trading range often provides price resistance, while the bottom of the trading range typically offers price support.
Traders capitalize on range-bound trading by repeatedly buying at the support trendline and selling at the resistance trendline until the security breaks out from a price channel. The idea is that the price is more likely to rebound from these levels than break through them, which puts the risk-to-reward ratio in their favor, although it's important to always watch for a potential breakout or breakdown.
Entry: after trendline breakout
Target: upper range.
Stoploss: Support
Confuluence to enter: Trading around support indicates cheap entry at current market price which will be confirmed after trendline breakout
Ramco Cement Trade Setup For TomorrowAs you can see in the chart, 924 is strong support many times stock tested this level.
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If tomorrow, stock break the support level & goes below 924, we can buy this trade for the target of 900.
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What's your view on this comment below in the box.
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Note: we will only buy this trade once it goes below 924.
RBL BANK TRADE SETUP FOR SWING TRADINGThere is major resistance at 185 level, as you see in the chart,
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After break the 185 level stock goes down and then recovered in a v shape and again,
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The stock is consolidating and taking support of 185 there is two condition in this trade.
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If it break the support, so we can see the good downward momentum.
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And if the stock goes upside, you can buy the trade once it cross 188 level for the target of 195-200
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What's your view on this comment below in the box.
INDUSIND BANK TRADE SETUP (POSITIONAL)Indusind Bank share is very near to the support level. If it break the level of 988.
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Then we can expect the downside around 960-970.
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If it goes upside 1013 is a strong resistance, you can accumulate this stock in this price.
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Once it break the 1013, we can see the level of 1040-1050.
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What's your view on this comment below in the box.
#Nifty Trade Setup For Wednesday (14th July)Nifty made a triangle pattern,
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So if Nifty may break on upside and then our Target is15900.
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If Nifty Break on downside so, 15746 is a strong support so if its break then Nifty cover the gap between 15700-15746.
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So trading according to this, what's your view on this comment below in the box.
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GOLD - LONGDESCRIPTION:
The price of the counter XAUUSD is maintaining above the support baseline at the price 1721.19. The baseline has been tested more than thrice. For the past couple of days the counter's price is moving near support baseline and there is no indication for a breakout. The bullish trend of the counter is expected to continue further. The buying mode of the market and the strong support base may boost the price even more upwards.
Major Levels For The Counter Are:
R2 - 1745.28
R1 - 1738.78
PP - 1730.18
S1 - 1723.68
S2 - 1715.80
Head & Shoulders patternHUL has formed a Head & Shoulders pattern in the 25 min time frame. So if it gives a breakdown, it can go down at least 60 points.
But bear in mind it is near oversold zones in the RSI. So if it fails to breakdown, a trade can be taken on the long side too.
If short ---Downside target: 2070.
If long ---Upside target: 50 points.
SL : The blue line.
(PS: I'm more on the upside bcoz the price just came out from a double bottom pattern, )
RAIN INDUSTRIES LTD - Currently in Pullback Phase.Rain Industries was struggling near 400 levels from past four(4) months.
and forming Spinning Long Range Candles, signalling supply pressure near those levels. Hence some decline was then seen in the stock, forming long bearish Candles.
Stock might correct more , however there are no much sign of weakness on the charts.
Price action should be observed near 300 and 250 levels, to identify further movement in the stock.