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UPL: Supply turned demandUPL(United Phosphorus Ltd.) has been declining over the past few sessions & has recently entered a supply turned demand area on weekly timeframe Earlier in 2021, 650 was a key resistance and later on we saw a momentum filled breakout with high volumes after which the stock has been consolidating since then. For now 630 seems to be a good accumulation level as it has been tested as a support many time during this accumulation phase and below which we have higher chances of seeing further downside so it is a crucial level to watch for! For value investors after such a long accumulation phases the breakout of the pennant can be a better opportunity as risk is high as per now. On the fundamental side, the company has good amount of cashflows and is fairly priced at price to book ratio of 1.6 times SETUP: Entry near 630 keeping a strict stop loss near 595 & target up to 740 is a decent risk to reward setup. Kindly do your own research. Thanks a lot for reading!
NSE:UPLLong
by UnknownUnicorn21160479
8
Learn Trading with LeeGa CPR Indicator CPR Indicator helps you analyze the market in a very simple and effective way. No complex formula or analysis is required for market analysis. Here we can see that with the help of Leega CPR indicator we can clearly identify key areas for trading on the chart, like Virgin CPR, Narrow range CPR, PDH reversal and Value Area identification. If we are able to mark out these areas in out our daily chart, then we could have easily identified three very easy opportunity to trade on this particular day.
NSE:NIFTY1!
by LeeGa_Finalysis
3
Bajaj Finance OverboughtBajaj Finance in overbought zone on the topside of the value area with several tops forming and a struggle to break above the zone even in a trending market. After a mini-bull run, if Nifty falls as per my analysis, this could be one of the first contenders to crash. Obviously, if analysis fails, then it could breakout and go up. But with weak volumes in the chart, this looks set for a fall. The weekly and monthly chart too suggest something similar. Also, despite decent profit numbers, it should be noted that with further rate hikes incoming, the financing market could face a squeeze in terms of demand. Keep in radar. Let us wait and see.
NSE:BAJFINANCEShort
by sufficientDog30325
Swing trade BTCWhy is this consolidation probably different than the previous ones we've had in the past 7 months? 1. For the first time, we broke out of a consolidation to the upside in a while, with little or no resistance above this consolidation (little to no value from CMP all the way to 30k). 2. Bounced off of untapped 17-20k demand cluster confluenced with previous ATH. 3. Sentiment ultra-bearish at a place where downside is limited. Expecting a squeeze to be the upside, provided we stay above the June-July'22 range.
BNC:BLXLong
by apratimbanerjee08
bitcoin crash what next????After making high of 66336 bitcoin started the down trend and broken the recent support zone of 40000-40250, next value area for btc will be 32000 to 31990 MACD has crossed the zero line indicating bearish signal RSI has entered the oversold zone as per VOLUME bears are more dominant then bulls Cryptos are most volatile assets i switched to EMA 400-500 band & 800 and long term base average line 33485 will be acting as vital area of consolidation or price might create a structure for REVERSAL LET'S NOT BUY THE DIP BLINDLY instead using some confluence points and waiting for confirmations
by Jimmy_Rebello
Waiting for my order get Hit.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 to around 26-27K Where is also a CC fib ( .618 - .66) of the whole bull market. any questions or thoughts? Let them know in the comment Section!
BYBIT:BTCUSD.PLong
by Thunderboy21
ADANIPORTS - Buy above 370NSE:ADANIPORTS 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 higher now. If you are taking the trade, please keep strict SL. Disclaimer: Author may enter in trade so take your own decision. This is an trading idea not an trading or Investment advice.
NSE:ADANIPORTSLong
by iamPotato
ITC - Short after the initial upswingITC, 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. The effects of Earning Release are already history, however a pending Dividend declaration may drive the stock upwards. 206 is the key level to watch out for that to happen. Also look out for volumes in play. The stock may see some upward movement before commencing its downward journey. Short below 203 for Targets of 200, 197 and 194. If it sustains 206 with high volumes - Buy 205CE or 210CE July options and sit back relax, buy some sunfeast biscuits (please do not smoke!) & wait for it to make new highs. In case of gap openings; follow ORB on 15 min candle.
NSE:ITCShort
by raj_rishav
Correct time to snap up the WIPRO.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 when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.) Buy in pull back that is 181-178. Maintain stop-loss.
NSE:WIPRO
by reshmi_chauhan1
35