After a profit booking and consolidation, Adani Enterprise is looking good for swing trade. It also shows a narrow value area which usually suggests a trending session. So look out for it.
Comment down your thoughts.
JK Tyre and industries have given a breakout of pole and flag pattern and also has a "narrow monthly Value Area". So we can expect a good move upside if the market remains bullish.
Comment below what do you think of this analysis.
right now i am waiting for my order to get hit and try to trade it back up. if my order do not get hit from my Gartley Harmonic + nPOC + VAL ( Previous range Januari) , i will enter when we reclaim the purple weekly level i marked out. if i get stopped out of my trade i will look if 30k ish Daily level holds and if that doesn't hold im expecting way more downside...
Buy At 370 or above
SL - 357 or 1% of your money with proper position sizing.
Reason for the trade: 3 months of accumulation and for the first time price has closed above the green line, hence ready to move out the value area and into markup phase.
Volume was high today meaning big money has already enter and are ready to take the price...
Targets - 340,330 and 310
Initial SL - High of the high bar + one ATR = 380
Entry - Below 357 ( Low of the high bar)
Be Calm and Let price come to you :) Don't ever chase price.
Disclaimer: Author may enter in trade, take your own decision. This is an trading idea not an trading or Investment advice.
ITC, as predicted in the last 2 posts on ITC (linked below) is trading in a value area.
Today, it made a huge bullish marubuzo traversing the range of value area and closed just below the resistance of 203.
However it did so with lot less volume when compared with its past breakout; which is primarily why I don't see it sustaining the bullish behaviour.
ITC as forecasted in my previous cup breakout analysis is in a historical price value area between 194 and 203.
Depending on how the results are vis-a-vis expectations of the market movers (MF, banks, investors); the breakout may happen in either direction or a side-ways movement.
For breakout up; wait for a close above 206
Fore breakout below; wait for a close...
The stock has already formed the DOUBLE TOP pattern.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur...
Always little be penetration can be seen in intraday research.
The control price of major channe l and value high of minor chann el can be Intraday U-Turn point at 11608 nearby and minor yellow channel has value low at (D) 11523 but value but intraday support can be 11563 in some case only because already support has taken b y Manjor channe l at (4) and...