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ABB Ltd | 3 way Trade strategies Trade strategy for ABB India Ltd can be approached by 3 ways. Below are the ways mentioned, 1. Since 1620 is good resistance, shorts can be initiated at current levels with stops above previous traded high of 1640. Exit points can be either on i)Rising trendline level or ii)Support area between 1547 & 1567 or iii) 1505/10 2. If the stock breaks the above mentioned resistance and closes above 1620/40 (where eventually the earlier short would be stopped out), go long with stop below 1600 with potential exit point as indicated by Bullish flag @ 1825. 3. If the stock continues to fall and breaks down below 1500 on closing basis, we could get a confirmation of a double Top pattern. In this case, we can initiate short with target as indicated by the pattern @ 1386. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:ABB
by AkhilSuryaFS
MGL: Channel trade set up trading ideaMGL CMP 853 We observe a trade pattern here where the stock traded in a channel earlier (highlighted by red colour). And now we see the stock consolidating again in a replica of previous channel. The idea is to look for buying opportunities near channel bottom, thereby reducing our risk and increasing our reward potential. If we look at the chart on a longer time horizon, since inception The stock has seen a correction of 61.8% retracement from the high and is now consolidating near trend line support. Can the stock look to conquer its lost grounds in coming months... Only time will tell but at current levels the risk:reward ratio looks favorable to go long from long term perspective. Plan your trade accordingly...!!! Take care & safe trading
NSE:MGLLong
by indiamarketoutlook
Tata Motors: Got the bounce... What next...???On 5th Sept we discussed 2 possible scenarios for Tata Motors that we are looking at... 1st was Tata Motors holding 374 on the downside and jumping towards 405-416 levels The stock made a low of 374.05 precisely and has managed to crawl back above 405 levels... Now if we see Tata Motors share price getting rejected here... then we are starring at the bigger trade potential on the downside with target potential of 348. This is more of a positional trade and pattern gets invalidated if stock closes above 426 Take care & safe trading...!!!
NSE:TATAMOTORSShort
by indiamarketoutlook