This scrip is in an uptrend since its debut, so one might add quantities whenever there is a correction. This scrip is now in a correction and there is a high possibility that it might reverse from the monthly central pivot. Wait for the scrip to come around the pivot region to take your long position.
Stock good for short term investments, stay alert from fakeouts and look for a breakout with good momentum.
DISCLAIMER - Analyse by yourself before investing.
Do comment and suggest if corrections needed.
Inverse H&S pattern at hourly timeframe.
Although it is comping from uptrend where the inverse H&S may not be more significant compared to that coming from downtrend, once can go long.
Also, ascending triangle breakout can be spotted.
Tight stop loss can be below the swing low.
Only for educational purpose. Trade at your own risk.
result will be announced on 29 july
stock trend is up
today shown move recovery from lows of approx two percent
holding imp level of 1100 mark
also stock is sideways from 3 days after a good upmove 3 day back !
i see trend continuation in stock going ahead
After rally of Asian Paints and Berger Paints , it may be possible that Nerolac paints could show good momentum. It's PE is around 60 and sector PE is around 90.
Now let's talk about technicals :- Stock has been forming symmetrical triangle pattern and now it has given a good breakout . Stock is now retesting the resistance line. If retest is successful , we can...
BankNifty Cmp 37812 dated 17.9.2021
Resistance @ 37800
Support @ 36800
Buy above 37850 for a tgt of 38500-39700
40500 SL 37000
Sell below 36700 tgt 36200-35500-34800
It is just a view, pls trade at your own risk.
trade set up :
1. buy with stop loss as 1010 on closing basis
for targets : 1082/1133/1178/1125 +
technical for buy :
2. breakout retest and bullish engulfing formation
note : breakout has happened at upper trendline resistance and price retested the same , now moving up with good price action to reconfirm the bullish structure .
NIfty50 stock BPCL formed Ascending triangle pattern.
You can see Rising lower trend line having ascending Higher Lows and a Flat upper trend line acting as resistance line.
I have marked A and B point, to calculate the target.
Price at A point = 252
Price at B point = 478.65
Formula to calculate the target is
Target = (Price difference between A & B) + Price...
The stock has given a breakout of the ascending triangle pattern it was trading in, coupled with decent volumes.
One point of caution here is that RSI is about to cross 70, hence watch the movement closely.
I believe the trade can be initiated if the stock manages to sustain over 237, for targets of 260 and 286.
Stop Loss can be maintained at 223.