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Bank Nifty Trading Idea for 18th Feb 2021Bank Nifty Trading Idea for 18th Feb 2021.
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[Short Term] Cup and Handle Breakout in DLF for Target 207+Since the last couple of trading session, DLF formed a cup and handle pattern which indicating a strong bullish move in DLF in next few trading session above 175. According to pattern depth of Cup is nearly 32 points so we can expect the same points in the projected target which can be 205-207.
Possible trade:
Buy DLF above 175
Stop-loss 169
Target - 190 200 207+
This trade can give good risk-reward as follow:
1) At First Target : 2.5:1(Reward: Risk)
2) At second Target: 4:1
3) At Final Target: 5:1
Disclaimer: Before taking any position make sure you're doing trade by risk management. Also, Don't forget to take advise from your financial adviser.
Swing Long BAJAJELEC , entry level- 373. Target 440On MTF price has test the previous swing high at 343, the level which appeared as strong support and close HH. Moreover it breaches the .618 fib level . Let wait for pull back the price near 373 for suitable entry. On DTF volume has also increased to breach the crucial level at 363 appx. SL can be place near 338.7 for a target of 440.
vedl metal are in short mode following techincal analysis vedl is overall in short bias but somehow it's breaches it's first resistance and now followed by technical it's gonna move accordingly charts so let's see today.
Honda Siel Power - CMP 1008 - Ready to bounce upsideThe stock bounced from the strong demand zone.
5th wave almost completed
and it can bounce to 1026-1041-1054-1072
Strong supply zone is 1053-1077
GBP/JPY - Descending TriangleGBP / JPY is very close to where a fall may occur. The pair is currently in a descending triangle pattern. The buying force was amortized by the downtrend line. With the arrival of the bears with the selling force, a low candle was formed. We expect the bear kick to be strong enough to send the pair close to the support level.
- Price touched a few times validating the bearish trendline
- RSI falling H4. Line descending on D1
- Rejection on trend line with low candle
I love such entries because risk-reward is good.
GOOD LUCK and take entry according to your balance.
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