Nifty has made today a Bearish Engulfing Candlestick pattern...
Hope we may see downside...
It may fall upto 9530 regions... And if it brake those levels we may consider it as a channel breakdown..
Targets are 9630/9575/9535
SL : 9705
Note: Do your own study before making any position...
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I have a very simple Intraday strategy which works really good. I would like to know your comments, advice or any faults you think my system might have, do paper trade this before actual trading.
After market hours I scan stocks in the 15 min time frame to find out which stocks have broken above or below a range of say 20 bars behind. Meaning from last 300 mins...
BTC is on the verge of making a historic run breaking the 2000 USD psychological barrier with an expected high in the 2200 USD region before a consolidation back to the 1600 USD region. There is expected to be a huge influx of 'New Money' coming into the Crypto Sphere.
Have projected my views on the chart itself...
It is the downtrend in VIX which is helping push / maintain Nifty in the upward direction...
Keep a close eye on Volatility index as it may be an early indicator to signal a reversal in market.
And if VIX starts moving up towards 24 some time later this year (it has tested 24 levels each year in the last 5 years),...
Stock price is Trading at long term support of 200 WMA placed around 430.
Stochastic and RSI are Plotted around the oversold zone on the weekly charts
Weekly ADX indicator has turned bullish
One can buy the stock between CMP and 430, for a target of 520, and place stop loss at 420 on closing basis.
We are looking at a 8 year Nifty IT chart
Lets see what the chart is trying to tell us...
- Between 2009 to 2015 the price has risen from 1933 levels to 12908 levels
- Since Jan 2009 till March 2015 the index has been making higher top higher bottom
- It is only after March 2015 that the index is seen making lower top lower bottom on a regular basis
Today;'s close will determine the moves potential.
Its just with simple elliot counts & its not foolproof
Check at your end before taking the trade and I'm not sure about whether the correction will pan out same way or variations will happen but its Daily candles so you need patience, its not like My Nifty & Banknifty posts which happens within a day or two...
Apollo tyres CMP 222
The stock is today giving some signs of reversal from trend line resistance.
One may consider
selling Apollo Tyres April series
Lot size 3000
Strike Price: 230
Margin requirement: Rs 96000/- approx
Max profit potential Rs 10500 /- per lot
Thats a potential of 10.9% on margin amount
Holding period: till 27th...
A Bullish Harami Cross pattern has been observed in daily charts of ONGC stock.
It is a good bullish reversal pattern, which is even more significant than a regular Bullish Harami.
1. The market is characterized by a prevailing downtrend.
2. A red body is observed on the first day.
3. The Doji that is formed on the second day is completely...
As discussed in in.tradingview.com
the counter has at last broken the consolidation and started the upward journey. Its for long term perspective, the counter will definitely give excellent returns in 2 to 3 years span.
Enjoy Trading...Trend is Friend...
Cadila Health Care prices are forming FLAG Pattern and prices are expected to trade higher if prices are able to break & sustain above 455 levels. prices can trade higher till its pole size. As per the pattern we can expect prices to trade higher till 555 or levels.