Trendcontinuation
Nifty gets a pullback...what's next...???Nifty has got a pullback but does it have the strength to go past the gap...???
Going Below 10080 will suggest no follow up buying...
Going above 10130 may trigger little further short covering...
finolex cable looks bullish in medium term. it is in a strong uptrend in monthly time frame.
in weekly, price recently bounced from uptrend channel support and horizontal support.
Also hidden bullish divergence seen in weekly.
so sl - 447, tgt1 - 551, tgt2 - 590
Wockpharma - Triangle Breakout (Trend Continuation)It is been observed that the price action is consolidated within a triangle formation on the daily chart and now the price action breaking out from the triangle indicating strong bullishness and buyers dominance over the price action. Buyers shall further take price action higher and continue the trend.
Target 1: 760
Target 2: 780
Stoploss: 720
MARICO - EVERY DIP IS A BUY (Trend Continuation)It is been observed on the daily chart that the price action is trending up and now it is near to the next resistance levels of 282, once it breaks it then it shall further move up to next resistance levels of 290. It could become a good trade setup once it crosses above 282 levels.
Target 1: 286
Target 2: 290
Stoploss: 276
Federal Bank - Trend Continuation SetupIt is been observed that the price action is trending up on the daily chart and reaching above the 52w highs. Now, it is taking support at 86.50-87 levels and moving up again, indicating a trend continuation trade setup.
Target: 91
Stoploss: 87
SUNPHARMA FLAG BREAKOUT (TREND CONTINUATION TRADE)It is been observed that price action breaks out from the downward consolidation flag formation and now it shall further move up to resistance levels and once it breaks above the resistance level then it shall further continue and follow the prevailing uptrend.
Target 1: 685
Target 2: 700
Stoploss: 670
Tata Chemicals - Possible Breakout NSE:TATACHEM is in an uptrend and as you can see, looks like may climb upto the levels of previous resistance if the lines hold up.
Cheers !!
TATA ELXSI - Hold or break ?NSE:TATAELXSI has crossed the downward trendline but without much conviction.
Soon, it may see the levels failing to hold up and might trade below the range lines.
Stop loss can be maintained on the upward line.
JSW STEEL - High Rewarding Short Setup It is been observed that the price action has previously breaks out from a channel as shown in Tata Steel chart (link given below) and then retrace back to the previous channel trend line, forming a V shaped signaling completion of retracement and now the price action shall further move down toward 1660 target levels.
Risk/Reward: 1/5
Target1: 1660
Stoploss: 1800
BHEL : Bearish Trend Continuation ! We had very good move after the ascending triangle breakout, booked some great profits out of it and now BHEL is retesting the resistance, so I'm planning to go short if we get bearish confirmation, I'm not sure what will happen on Monday, if we get Gap Up in BHEL bcos of Nifty better we can re-think this entry strategy. If it opens in one and once bearish confirmation is seen, then we can short Bhel aiming for 132 levels.
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Happy Trading !!
