1. RSI oversold and made higher high while on the line chart there was lower low that means trend is going to change
2. for perfect entry i waited for downtrend to reverse by initiating the trade after trendline break with volume and it is now the same
3. 1st Targets are mentioned as per longterm trenline & 2nd target is based on resistance
DON'T forget to...
(Swing / Positional Trade) | RR 1:2+ | Type:- Breakout
Reasons To Trade🤔 :- Good Uptrend Seen After Selloff, Above 200 DMA, Took Support At Fibonacchi Retracement(61.8) Before Breakout.
Entry :- 181+
Stop Loss :- 172
Target :- 193 - 200
(Risk Must Be Managed.)
Keep Your Eyes On Index
😜Follow For More ✔
Give Me A Thumbs Up...👍
hello guys! New profitable Idea for you all!
Yes.it's the best entry time at 70.5 because the stock seems to be in overbought zone. TGT for this stock is 85.And holding duration is 1 month.
fundamental results are very good for this stock.the company is growing it's business and earnings.
As the stock was showing certain patterns in the downtrend.
such as triangle...
1) broke the trendline
2) Prior candle is a Big red red candle (formed after a doji)
Take short position only if it breaks below 110.80 (Low of the big red candle)
Tgt: 103.5 (200 SMA)
SL: 114.5 (Above the inside candle)
Guys my 2nd educational Idea for you all :) it may help you :)
Trend line breaks is the most helpful strategy in technical analysis.it's has an accuracy rate of 91.3%.
If the market is in downtrend,you can use the trend line breakout strategy with trend line as a resistance.
Similarly,If the market is in uptrend,you can use the trend line breakdown strategy with...
On A Daily TIme frame , BankNifty has broken Rising Wedge pattern
When Price Action is considered, Dynamic Resistance still needs to be broken at 21023 if we consider bull to come back but not before 21356.
Multiple touch of upper trendline that makes dynamic resistance .
Upper trend line was respected for almost 5 months.
Looking further you will observe...
As we can see price were in uptrend and made H&S Pattern at top of this uptrend duration.
Now we just have to see if it does break out or make more complicated H&S or start going sideways.
let's watch it :)
Apollo Tyres Break Important Trend line and close above trend line so we can add in your watch list for Buy Side.
Entry Price: 135.55
DISCLAIMER : This recommendation is for educational purpose only, consult with your investment advisor before initiating any trade.