Price had fallen out of rising channel.
Stock price is back in the channel with rising volumes.
For Stop loss of 408 , this stock can be bought for a target price of 460.
The target has upside of 10 % and our stop loss is 2.77% from the current price.
Risk reward for this trade is 1:5
Monthly: After forming multiple dojis, the price broke below the weak support indecisively. A weak hammer can be seen forming in Oct. A little bounce to test that zone can be seen this month.https://www.tradingview.com/x/XNU8hQTy/
Weekly: Price is making LHs and LLs. Last two candles show rejection of resistance.
In monthly, a pullback to test monthly resistance in a nice downtrend can be seen, which gives us a potential short assuming that the trend is not yet exhausted.
Weekly is in a nice downtrend since many months now and a doji has rejected the monthly resistance which is negative again. However, we see a TL break with big...
There is a momentum with railway stocks, IRCTC bumper listing plus RITES giving huge returns. The stock is now retesting with lower volumes and looking at the candles near the retest zone, one can safely assume that either the consolidation is going to happen or uptrend will continue.
One can keep a stop of anything below 255-256
BSE:SENSEX has recorded a All Time High today(26-Nov-19) but it was rejected by a trendline that extends from August 2018 till today. If this trendline is broken on a daily closing basis then I am expecting SENSEX to continue to the upside.