Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
Tata Power made a high of 298 Rs. in April but does not sustained above level and break the strong support of 200 level after a long period of consolidation. i.e 250 days. The first support will be 150 and next is 130.
Wait for some retracement before go long. All the drawings appearing in the chart are self explanatory. Nothing wrong in the chart.
Buy around 1000 with SL DCB marked above.
Rationale for waiting, if cant wait and have FOMO then but at CMP.
1. Volume noted in the first breakouts attempts was 21MM roughly, this time it is 13MM. Breakout with lesser volume.
Tata chemical is forming very good pattern clearly showing price action formation. Support from this level and bounce will be a good short to mid term trade.
Disclaimer: This study is for educational purpose only & is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
DATE : 02.05.2022
Its looking very bullish, as it is gap up opening with good volume and also forming kind of MARUBOZU candle. Once its crosses 1049, we may see bullish movement.
CMP - 1033
TGT - 1088, 1146, 1200
SL - 994
Disclaimer - This is for learning and education purpose only. Person taking position based on this will be self responsible...
1. Its price is at important 50% Fibonacci retracement level.
2.Channel Breakout + Retest
3. Consolidation of more than 195 days ( Bigger the consolidation , Bigger the breakout )
4. Enter again if SL hits , As the market is -ve , it might fall for more 1-2% . But Risky traders can enter now itself.