Drreddy | Bullish Parallel Channel & Falling Wedge 🎯-----------------------🙏🙏NAMASKAR 🙏🙏-----------------------------
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⭕ Day Trading opportunity ! min Chart Alert !!! ⭕
--Buy above =5126 or CMP
--Target = 5594
--Stop-loss = 4926
--Lot Size = 125
--R:R = 2.35
--Expected Profit = 58,000 ₹ per lot ( 9.14% )
--Expected Holding = 10-20 day only
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⭕ Technical Reasons to trade or Strategy applied :- ⭕
1) stock is moving on Bullish parallel channel
2) falling wedge pattern breakout
3) resistance breakout with volume & candlestick pattern
4) multi time frame analysis is bullish
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✍COMMENT Below your view !
Supportzones
CRISIL AT MULTIPLE SUPPORT LEVELThe positive pointers to go long:-
CRISIL has made a pullback to 0.236 fib levels, matching the price action support levels at 1900.
The RSI has made an breakout, the price may follow it ( once the declining trendline is broken).
The price is at the upward sloping trendline.
Aggressive trade is to go Long at current levels. Conservative trade is to wait for a breakout with volume on the declining trendline.
SL level at 1775
Target levels @ 2110 / 2300.
Other interesting thing to watch is the volumes on the down days. The decline from the top has see 5 above avg volume distribution days, making one to proceed with caution if one has to trade long.
Infratel #Supportrange I think that it would be a good swing opportunity as Finance Minister announced several incentive plans to boost production in various, telecom sector is also in the bucket list. Lets watch and take a position according.
Manappuram Finance: AnalysisManappurna finance has given Head & Sholder + Parallel channel breakout in the daily time frame today . Possible consolidation near 143.25 level because of the previous breakout level makes it important (Purple Rectangular Area).
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Upcoming support zone will be around: 134.50. Good Shorting Opportunity.
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Stop-Loss must be over the immediate resistance level i.e somewhere about: 158.35.
Asian Paints: Breakout tradingKeep an eye on Asian paint it is on its very verge of breakout. There is a possibility of one more retracement in nearby time. Sellers fail to bring this stock down multiple times in 1 hr time frame.
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Reason to buy:-
1) 2000 is psychology level breaking above which will be a good move.
2) Reduction in seller's strength to pull this stock down (Mentioned in the chart).
3) Bullish Triangle pattern formation.
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Best level to buy : 2005.10
Stoploss will be immidiate lower swing i.e 1948.00
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Intraday best posible target 2%