BHARATFORG trade ideas
Bharatforge trading in support Zone on weekly chartsBharat Forge is a buy above 520 SL 500
Bharat Forge is a sell below 500 for small target of 485 which shows a fibonacci support level also. We are also seeing a crossover in STOCH RSI
Since NIfty is bullish we may see a bullish move in Bharat Forge
BHARATFORGE - Inside Bar Trade IdeaLong above 514.75 with SL 505.7
T1 517.85
T2 519.4
T3 524.85
T4 529.85
Short below 505.7 with SL 514.75
T1 502.55
T2 501.7
T3 498.8
T4 495.1
SELL BHARATFORGE FUT 520.TARGET 440.STOCK ALREADY HAD BROKEN IMPORTANT SUPPORT LEVELS @ 540 AND CLOSED BELOW THAT LEVELS. IF ANY BOUNCE BACK WILL COME SELL THAT STOCK @ 520 & 540. KEEP S.L - BOTH LOT 580. WHEN YOU TRADE IN FUTURE YOU CAN HEDGE YOUR POSITION WITH OPTION.ITS BEST WAY FOR PROTECT YOUR CAPITAL. SO YOU WILL BUY 520 CE & 540 CE WHEN EXECUTE ABOVE TRADE.
NOTE : BEFORE TAKE THIS TRADE YOU WILL ANALYSE YOUR RISK LEVEL.
BHARATFORG * Inverted flag pattern.
* Confirmation with flag breakout candle on 21-12-2018
* RSI on bearish zone, STOCH negative crossover and in bearish zone.
* CMP- 502.45 SL- 532 TRG- 443 (Risk:Reward=1:2)
Double inside bar BHARATFORGEGO long at PDH if PDH is broken with SL at PDL
go short at PDL if PDL is broken with SL at PDH
PDH - 519.5
PDL - 504.7
Inside bar BHARATH ForgeGo long at PDH if PDH is broken with SL at PDL
Short at PDL id PDL is broken with SL at PDH
PDH - 503.15
PDL - 525.9
BHARATFORG: SELL AT 540, SL 547 TARGET 513BHARATFORG has lost 8% of its ground with 10 times of its average volume on NSE signifying a greater amount of selling taking place in stock.
SELL BHARATFORG
SELL @ 540
SL @ 547
TGT @ 513
Bharatforg Buy SetupBharatForg still following the fib levels and will be good to long above 600 for 615
please follow the fib levels accordingly
Stock has started to move in a uptrendStock now making higher highs and higher lows & is above EMA20; stock might come to test or give breakout of previous high
Bharat Forge Mean Reversion Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Bharat Forge.. can you repeat?Looks like similar pattern is repeating..
Note: This analysis is strictly for EDUCATIONAL PURPOSE only..
