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Why TATAPOWER ?Hi everyone! Let us discuss TATAPOWER in this thread. TATAPOWER has given fabulous 750% movement b/w May'20 and Oct'22 and since then it is in consolidation. Below I have mentioned my reason why I think it is a good time to consider this stock. 1. Price Action : :- Stock is testing its 2 year long trendline(pl. refer chart). :- In weekly chart last four candles have formed higher lows, which if formed near support generally signals strength. :- Triangle pattern breakout in Daily chart. 2. RSI : Monthly RSI is near 60 at same time weekly RSI is testing 40 whenever price is moving near trendline. 3. Good Risk to Reward : Since stock is near its trendline so the SL will be only 6-7% which means we can expect a RR of 8 to 10. After all these positive points there is also one point which will be of slight hindrance and it is that, Stock is trading below its 200 moving average(in daily), and once it crosses past that we can expect some good momentum in this stock. Do you agree with all this? Pl mention if you have any point in addition or against above points. THANKS!
NSE:TATAPOWERLong
by sudhanshu_raaz
3
A Very Low risk setup in SKFINDIAHello everyone! Now is the best time to go long in SKFINDIA. I have been tracking this stock since July'22 and it has given a fabulous one sided rally of 35% since then, it is going through consolidation from last 2 month(pl. go through chart for probable target and SL). Someone might consider it after breakout from trendline but I personally prefer a low risk setup even with slightly less probability as after breakout the probability will increase but the risk to reward will be not as good as now. Let us understand this through example: Consider 2 setups, one with low RR and high wining % and another setup with considerably less winning % and high RR. RR ratio Wining % 1st Setup 1:3 90% 2nd Setup 1:6 60% Now before doing calculation let us pre-assume a few things; Total Capital - ₹1000 Maximum risk he/she take per trade - ₹20 After 10 trades: For 1st Setup; 1 trade will hit SL since setup has 90% accuracy. so, total loss = ₹20 As the setup have RR of 1:3 So, target for each trade will be = ₹20x3 = ₹60 In 9 trades target will be achieved. So, total gain = ₹60x9 = ₹540 Similarly for 2nd Setup: No of losing trade = 4 Total loss = ₹20x4 = ₹80 Target for each trade = ₹20x6 = ₹120 No of winning trades = 6 Total gain = ₹120x6 = ₹720 Total loss Total gain Net Gain ROI 1st Setup ₹20 ₹540 ₹520 52% 2nd Setup ₹80 ₹720 ₹640 64% Now you may make your decision. Thanks!
NSE:SKFINDIALong
by sudhanshu_raaz
Why Am I long In Nifty ?After giving a rally of almost 140% nifty is in a rangebound market from almost 1 year, which means it is going through accumulation or distribution phase. If it is distribution then market will move downwards and can test level of 13600 but if we consider it is an accumulation phase then it can give a rally up to 21000 in coming months. I have mentioned below my reasons why I am considering more probability of this rangebound as an accumulation than distribution. 1. Strong Sectoral chart : Many sectors like auto, energy and banking are looking very strong on chart and even weak sectors like IT and Metal are showing some strength. 2. Sign of Strength in Global Market : In weekly chart S&P 500 Chart is near its 200 EMA and at same time in daily timeframe it is forming reverse head and shoulder pattern(still to give breakout). 3. Price action : For Cup and Handle I personally use some combination of RSI signals to identify a strong Cup & handle. Nifty is forming a cup & handle pattern in weekly chart from Apr'22 and for the handle to be completed 17400 was a very important resistance level, last week market has given a closing above 17400 and RSI is also indicating some strength. Thanks!
NSE:NIFTYLong
by sudhanshu_raaz
Diwali pickHi everyone! As we already know that few months back auto sector has given breakout from its cup & handle pattern, after giving beautiful breakout in last 2 months it has corrected a bit and now taking support near its breakout level. RSI is also giving signals for strength at current level, so the sector to go long this Diwali would be Auto. Now zooming-In, in Auto sector we have to choose stocks which will be major contributor in coming rally. Some stocks like M&M and TVS were the leaders during last up move and gave almost 60-70% rally in last 4 to 5 months, they still have potential to move 30-40% on upper side but it is not suitable for fresh entry as risk to reward will not be suitable. "CUMMINSIND" is one stock looking strong and supposed to lead from front in coming rally in auto sector, it is near its cup & handle breakout level and formed a beautiful triangle pattern, RSI is also giving positive signals. Lower side risk would be only 7% and is supposed to go up to 2000 which would be 70% from current level, i.e., we will be getting risk : reward of 1:10. Stay safe! Happy Diwali.
NSE:CUMMINSINDLong
by sudhanshu_raaz
SPARC : on BO line Based on the past couple of days' momentum of SPARC, high probability of crossing the resistance. If sustains above 242, we can see 263 immediately and may test 290-300 levels. 2022-10-13: Close Crossing 4 week High, Also daily close forming- Shooting Star On Daily daily and Weekly time frames close above 20 SMA Also Close crossed Weekly SMA-13 Upside RSI- M:50.6 WK:51.9 D:58.9 2022-10-12: On Daily time frame SMA 13 crossed SMA 55 from Bottom RSI- M:49.5 WK:49.1 D:54.6 2022-10-10: Close Crossed WK & Monthly Pivots Upside RSI- M:49.2 WK:48.3 D:53.4 Add to watch list
NSE:SPARCLong
by rvc8280
KIRLOSENG - Possible BOKIRLOSENG - today 9.72% up with good volumes. Today(12-Oct) volume is the highest in the past month. ADX : 4.9 - DI+ 30.5* On Daily and Weekly time frames, SMA 15> SMA 30 & SMA 25 > SMA50 Close is above SMA D-20, SMA W-20, SMA M-20 M/W/D RSI>60 - Daily RSI crossed - 5 days Back 2022-10-11: ADX is increasing - 33.4 - DI+ is 28.0* Close is crossing 4 week High Price is Out of Squeeze Close is above 20 SMA on Daily/Weekly/Monthly time frames. Above 297 - we can see further upside. Add to watchlist.
NSE:KIRLOSENGLong
by rvc8280
PANACEABIO - BO on new ordersPANACEABIO is trading in the range for the past couple of months and breakout by 18% today with huge volumes. The reason for this is due to " $127.3 million orders from UNICEF and PAHO for the supply of its WHO pre-qualified fully liquid Pentavalent vaccine" With this movement, Trend Ch +ve. Close Crossing 4-week High Crossed Monthly Pivot upside Close is above Daily and Weekly SMA 20. But below Monthly 20 SMA. The weekly trend changed to +ve. Still, the monthly trend is on the -ve side. Daily SMA 13 Crossed SMA 55 upside. Weekly SMA 13<34<55, But Close crossed Weekly SMA 13 Upside RSI- M:46.0 WK:55.4 D:75.0 Add to the watchlist - take your own decision.
NSE:PANACEABIOLong
by rvc8280
MAHSCOOTER: Bouncing upwards to Breaking out PCMAHSCOOTER- Maharashtra Scooters Ltd PPFAS has recently added in their portfolio, hence it was in my watchlist. Coming back to charts: PC-A = PC B With the breakout of PC A at 4510, rallied to highs of PC-B, 5245, and retested the support of Midline of PC-B at 4980. #WondersOfPC Today, candle is building strongly, good to enter at CMP of 5175-5185 Coming Target of 6000+, if overall market holds well If market goes red further, candles may not Break out PC-B and may start come down from 5350 only. CBSL will be of 4994 for swing trade. I believe in the studies of PPFAS team, One can go with the this pick for LT portfolio also.
NSE:MAHSCOOTERLong
by ChartSarathi
ZENITHEXPO - BO with high VolumeZENITHEXPO - today 20% movement crossed the supply area. Current Week High = 7Weeks back High Volume is highest in past 6months on Daily basis. The trend changed to +ve today. Close Crossed 4week High, Monthly Pivot. Close is above Daily/Weekly/Monthly 20 SMA. The monthly trend is already +ve and the Weekly trend also changed to +ve. Daily SMA 13 Crossed SMA 55 upside. Weekly SMA -13 >34>55. RSI- M:57.8 WK:60.7 D:67.0 Possible upside momentum will continue if sustains the BO. Add to watchlist - trade after own research.
NSE:ZENITHEXPOLong
by rvc8280