BPCL has broken the weekly trendline (white colored line) and also retested it on last friday.
BPCL has yet to break the green trendline , which would confirm the bullish flag pattern and shift BPCL's momentum towards bullish .
BPCL has used the orange line, which was previously a resistance, as a support and is ready to bounce up.
Target 500 with SL at 460
TataSteel might be a good candidate for short position on Swing basis.
It has been moving within a channel for a while, and as you can see it has been following a uptrend in the channel and after reaching the top of the channel it broke the trend line TODAY.
I think you can expect a 8-9 % target form the current market price.
1) Possibility of short-term downtrend to continue.
2) Price closed below the bullish trend line on daily candle.
3) Possible breakdown of 57.42 level on fibonacci.
4) Stochastic cross over with bearish direction.
Entry = 60.35
We had losses on our intra day shorts but as soon as range was broken on upside we were able to long both index, there is still more up move we are expecting so we are planning to continue looking for bullish moves to capitalize till we get back into dried out volatility situation.
Like discussed there was some stimulating news from government for banks "Govt...
Nifty is looking quite bullish and if it manages to break out of the yellow dome then it will hit a new all time high in coming weeks.
Trading Strategy by www.t.me
11717 is a crucial support zone and if Nifty manages to sustain over it then expect it to test the dome which should be your first target.
New positional longs can be further added upon...
Adani Gas had a perfect fib retracement while forming a falling wedge.
I had few buy orders placed around 120 but for now Adani gas have given a breakout and looks good to test 161 levels in coming weeks.
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NSE:NIFTY Immediate support zone@ 11110-11140
Immediate resistance zone @ 11700-11720
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Bears initially tried to form a head and shoulder in Nifty but results of general election lead to change in structure, but then they stayed in the game and are going a inverted Adams and Eve structure inside an inverted bowl which will act like a labyrinth for Bulls.
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I have initially recommended to buy BhartiAirtel earlier this year around 294 and since then it has given the growth as i anticipated.
I am expecting another bullish move in Bharti Airtel once it breaks out of current consolidation zone.
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Here we have an interesting setup for Axis bank which tell us that if Axis Bank holds VABAFIB 78.6 levels then it is going to make a new ATH soon.
Use 50 MA as stoploss
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Hindustan Unilever have given beautiful breakout on weekly chart and is an ideal contender for buy the dips in coming days as i expect it hit a new all time high in coming weeks.
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TRENDS is a positional trend based trading system backed by highly accurate Alpha k trading algorithm developed by Trading.shiksha.
Trends has been designed to sense the slightest of change in the direction of trade and then generates trading signal once there are enough of conformations on different parameters.
Trends have delivered more than 120 profitable...