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ALKYL AMINES CHEMICALS LTD.ALKYL AMINES CHEMICALS LTD.ALKYL AMINES CHEMICALS LTD.

ALKYL AMINES CHEMICALS LTD.

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ALKYLAMINE trade ideas

Importance of Multiple Confirmations-Indicator Free AnalysisIndicator Free Analysis with Fibonacci Ratio Integration: The above is a daily chart of Alkyl Amine, a quality monopoly stock with clear cut competitive edge in its respective industry. We can observe that a previous resistance was present at 4000 levels which was broken with big bullish harami green candles accompanied with volume. A basic rule of chart analysis is whenever a stock breaks out of its resistance, the resistance is transformed into a support. Thus the stock again comes back to the resistance level in order to check if it has turned into support. This is called retest or throwback. Here the stock has tested the 4000 levels 2-3 times and is now trying to head upwards. In addition, if we draw a fib chart, we can see that the stock is taking support at the 0.618 levels which can be regarded as ultimate support zone. We can also observe that a bullish Flag and Pole is formed which indicates upmove How to trade the stock? The stock can be traded in two ways depending on one's risk appetite and experience. Entry: For risky and experienced traders: They can enter the stock after a bullish candle (such as that of today is formed) is formed with a SL below 3900. For safe traders: They can enter the stock as soon as the stock gives a breakout above the flag i.e. formation of a bullish green candle with closing above flag. Benefits of early trade: By entering early, the experienced or risky traders decrease their stoploss to a great margin. Thus it is possible for them to re-enter if the stock hits the StopLoss and again moves up. Benefits of Confirmed Trade: By entering after the breakout and retest of the Flag pattern, a safe trader increases the probability of success to a great extent. Where should the target be? The target should be the tip of the Flag i.e. 4750. Where should be the Stop Loss? For the early entree, the Stop Loss should be just below the support trendline of 4000 i.e 3900 For the safe trader, the Stop Loss should be placed just below the upper trendline of the Flag i.e. around 4100-4150 Hope you all learnt something..Support me by sending some cheers and liking all my ideas .
NSE:ALKYLAMINEEducation
by tksthathachari
3
How to trade BULLISH GARTLEY patternLemme tell you some basics of Bullish Gartley (Harmonic-Pattern) XA: The XA move could be any price activity on the chart. There are no specific requirements in relation to the XA price move of the Gartley chart formation. AB: The AB move should be approximately 61.8% of the XA size. So, if the XA move is bullish, then the AB move should reverse the price action and should reach the 61.8% Fibonacci retracement of XA. BC: The BC move should then reverse the AB move. At the same time, the BC move should finish either on the 38.2% Fibonacci level, or on the 88.6% Fibonacci level of the prior AB leg. CD: The CD should be a reversal of the BC move. Then if BC is 38.2% of AB, then CD should respond to the 127.2% extension of BC. If BC is 88.6% of AB, then CD should be the 161.8% extension of BC. AD: Then there is the last rule for the Gartley pattern. When the CD move is complete, you should measure the AD move. A valid Gartley on the chart will show an AD move, which takes a 78.6% retracement of the XA move. ABOUT ALKYLAMINES . . (BULLISH GARTLEY) 14th May to 20th July: Stock sustains in a rectangular channel, Price & Volume contraction can also be seen in that time-period. On 20th July fresh buying occur and bulls took the control over bears by creating buy on higher prices & Stock made new high continuously for 4 trading session. Between August 11 and August 16, such candle patterns were seen which indicated a decline and after that a huge amount of decline was also seen. From 28 July to 26 August, a decline can be seen, this is because the bears took over the command and started selling in large quantities. On a final day i.e. 27th August Bulls were seen buying in bulk and that too with huge volumes. Conclusion: wait for pullback and try to accumulate on dips for targets 4402 & 4471 with strict Stop-Loss of 4000.
NSE:ALKYLAMINELong
by VibhutiSharma
1