Fundamentally a strong stock.
Currently you can accumulate it within the triangle or to be on safe side you can buy is it after the successful breakout from the symmetrical triangle for the targets marked with green lines.
If Glenmark maintains the momentum in coming week than i expect it to breakout from current zone to test the levels marked in green.
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This chart is specifically made for students who are not sure about using different time frames.
The above chart is made on smaller time frame to give you a scalping setup for intraday.
since this chart shows you the expected movement in smaller time frame you can use this chart to plan intraday trading.
More information will be shared in the channel itself.
With negative sentiments all around I expect nifty to open downwards but I have been around in this market for a while now and somehow my previous experience with the markets tells me that their is a possibility of MM trying to pull the levels close to 10750 around expiry.
VOLUMES WILL BE RELITIVEY LOW FOR NEXT COUPLE OF DAYS AND ACTIVE FII WOULD BE KEEN TO SELL...
Bata is looking so ripe for short, depending upon market conditions I would like to be on sell side unless I see a strong downward rejection.
dark green lines would be the target incase nifty fails to hold 10000 levels in coming months.
Trade accordingly and don't forget to share your opinion in the comments section.
Rising wedge forming from the relief rally happening due to the play of H&S.
In short their is still more pain left with this script.
Ideally I will sell at the breakdown from the wedge on the lower side.
All the best.
orange line marks strong resistance zone and it is further covered by ichi clouds for now.
for me its a clear sell signal.
ideally you should sell it on failure to successfully breakout of orange line.
I AM NOT COMFORTABLE IN TRADING ANY MAJOR POSITION FOR NEXT COUPLE OF DAYS .
YET IF I HAVE TO OPEN A TRADE THEN THIS IS AMONG FEW SCRIPTS WHICH I WILL ENTER AS PER NIFTY MOVE.
STOPLOSS BELOW THE YELLOW LINE
Basically we have a clear breakout from the channel and we can possibly see a retest of the channel before it move ahead to test upper levels provided nifty holds the momentum.
Stoploss below the top yellow line.
all the best
CHANNEL IS MARKED BY YELLOW LINES.
LOOK HOW BLUE LINE IS BEING RESPECTED AND ACTED AS SUPPORT FOR A BRIEF PERIOD.
FROM HERE THE SCRIPT WILL EITHER GO ON TO TEST YELLOW CHANNEL , BREAK IT AND MOVE AHEAD TO TEST GREEN LINES OR PRICE WILL TEST YELLOW LINE, FAIL TO BREAKOUT(POSSIBLE PROFIT BOOKING ON NIFTY) RETEST (AND HOLD BLUE LINE) TO BREAKOUT IN COMING WEEKS.