Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
Nifty auto index is showing. A firm confirmation of breakout from the previous resistance and also from a double bottom W pattern.
The last weekly candle is wide range bullish open = low pattern. The momentum and trend is bullish on all timeframes.
From the fundamental side covid recovery and festive sales could help stocks in the sector to sustain the bullishness...
My recent trade analysis have gone pretty well. There is lot of noise around which wants us to believe that market is going to crash but at least till now I cannot see any signals like that.
So here I have found a stock, that has formed a W bottom pattern which is a bullish pattern, has good long volumes, and delivery data is also convincing.
TechM formed a double bottom on the hourly time frame. Right now price is trading near the supply zone. we may see some good movement in TechM in Intraday/Swing trading.
Levels are marked in the chart itself.
EXPLANATION : This is a 15 Min time frame chart of NIFTY , It has formed a Double Bottom Pattern , W pattern . If gave a strong breakout and broke its supply level with volumes and retest the same , I am bullish on NIFTY . If gave a Rejection from supply level its kind of a Right hand shoulder of Inverted head and shoulder pattern .
L&T infotech : double bottom breakout in progress. Momentum and trend bullish on all timeframes .
latest daily candle is open = low bullish pattern and likely to trend up.
stop loss could be close below breakout neckline. trailing could be done on daily trendline breach and close also could be indication
for short swing trades.
Bullish divergence met target &daily rounding pattern breakout in progress and weekly approaching a very wide weekly W pattern breakout neckline. Cautious of a weekly bearish divergence emerging &use tight stop loss at rounding pattern neckline
LONG BANK NIFTY FUTURES ABOVE 36290
TARGET 100, 200, 300 PTS
Trail SL to cost once in Profits
Disclaimer: The Charts are for educational purpose. Please consult your financial advisor before investing.
SL-2700 - 2730 (on closing basis)
Target - 3200, 3500
- Market structure negative making LH - LL
- Key level of support around 2700-2800
-Trading below all EMA's
- Fib retracement 0.38 zone
- Can se potential W pattern if price holds 2700 levels
- Price is near area of value
- Making a double bottom like pattern in the week
Keep strict SL to...