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Trendcontinuation

Short USDINR Downtrend Continuation Day 2Sometimes simplicity is just the key to success. Previous Channel and Current pattern in downtrend confirmed a bearish continuation again. This post is just to encourage you that you can earn with just simple analysis. A 'Symmetric Triangle' breaking downside in a downtrend confirms that bulls have been tired and couldn't take the price up again. This is a confirmation for Downtrend Continuation . With this knowledge and waiting for a price action on charts can give you better results. RSI also gave a confirmation which increased the probability of success. You do not need advanced knowledge about indicators and patterns for this. Analyse the given Entry point, SL, TGT, S&R . Most importantly just try to Trail SL below your entry point whenever possible. #Tgt1 achieved easily and RR more than 1.5 (PS: Couldn't post earlier due to technical isuues) This explanation is only for educational purpose and isn't any kind of recommendation. Don't take any action based on this explanation itself. Consider your financial advisor before taking any trades. Thanks for your time. Happy Trading and Learn something new Everyday.
UEducation
by Trader_Tech
GRASIM | Weekly Trendline defining termsStock exhibits sustained weakness in Weekly time frame. Falling Trendline holds valid and rejections have been pretty strong whenever the stock hits it. Currently the stock has hit the Trendline again wherein we could also spot 38% FIB retracement adding strength to the resistance. Though the above points guides us to take a strong bearish view, we need to be aware of recent higher low formed which might be an indication of Bulls putting a little fight and bear trend losing momentum. That takes us to the point where in a break below the recent rising Trendline or a break below 810 level could cancel out any weakness for Bears. Considering the overall picture, the stock still inclines in favour of Bears and a break below 810 will only make the case stronger. Alternatively, a Weekly close above 930/950 levels might indicate a long term trend reversal in favour of Bulls.
NSE:GRASIM
by AkhilSuryaFS
Maruti – Inverted Flag BreakdownMaruti has been in a strong Bearish trend since July 23, 2018. The stock tried to hold 6900 levels for almost 3 weeks before breaking down further. I can see a breakdown of an Inverted Flag pattern here. Good opportunity to short for targets of 6600 and 6200 with a stop loss just above 6900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:MARUTIShort
by nano6yogesh
Nifty Pharma – Start of another rally ?After an explosive move from ~ 8000 to ~ 9500 levels, Pharma index NSE:CNXPHARMA went into consolidation. I think this was a correction within a bigger rally and we have more upside on cards. I can see that Nifty Pharma has taken support at 50% retracement of the previous rally and formed a large Bullish candle. Many Pharma stocks like Aurobindo Pharma, Sun Pharma and Glenmark are showing signs of reversal. Good opportunity to go long on Pharma stocks with a small stop loss. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:CNXPHARMALong
by nano6yogesh
Escorts – Downtrend resumes ?After a good recovery from the lows of 822 to 900, seems like the downtrend in Escorts NSE:ESCORTS may not be over yet. The Auto index NSE:CNXAUTO appeared extremely Bearish today forming an Evening Star pattern. I can see that Escorts has formed an Evening Star like pattern as well and has reversed in the 50%-61.8% retracement zone of the previous downmove. Looks like the stock is heading back to 836 levels. Good opportunity to sell calls here with stop loss at 900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:ESCORTSShort
by nano6yogesh
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Mindtree – More pain on the way ?With both Nifty NSE:NIFTY and Nifty IT NSE:CNXIT indices looking weak, more pain seems to be on the way in certain stocks. Many IT stocks appear to have formed an intermediate top today. I can see that Mindtree NSE:MINDTREE has formed an Evening Star pattern with a large Bearish candle today. Good opportunity to go short with a small stop loss for a first target of 902. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
MShort
by nano6yogesh
HCL Technologies – Looks weakAfter the massive fall from 1108 levels, HCL Technologies NSE:HCLTECH managed to pull back to 934 levels but faced a stiff resistance in the 934-944 zone. I can see that the price faced strong rejection at 38.2% retracement of the previous downmove forming a large bearish engulfing candle. Good opportunity to short here for a target around 880 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:HCLTECHShort
by nano6yogesh
Yes Bank - Downtrend resumes ?Banknifty appears considerably weak after the large Bearish Engulfing candle that it formed yesterday as it encountered heavy selling pressure around 27000 levels. With all the private sector banks witnessing a selloff on Monday, Yes Bank NSE:YESBANK looks like a nice candidate for shorting. I can see that the price got rejected at the resistance zone near 350 levels after retracing 50% of the previous downmove. Good opportunity to short here with stop loss near 350 levels for a target in the 305-315 zone. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:YESBANKShort
by nano6yogesh
HDFC Ltd. - Downtrend resumes ?After a considerable recovery from the lows of 1780, Bears seem to have taken fresh shorts again in HDFC Ltd. NSE:HDFC on Monday, as the stock failed to cross the crucial resistance at 1865 and was pushed down to 1833. I can see that the price got rejected after retracing 50% of the previous downmove and formed a large Bearish Englufing candle. Good opportunity to short here with stop loss a few points above 1870 levels for a target below 1780 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
HShort
by nano6yogesh