After long years of range bound movement,A breakout to new highFrom 2014 onwards the stock has been consolidating on a range and after8 years the price has breached above the consolidation zone, with huge volume considering the bullishness the momentum can be continued, the stock can be considered for short to medium trade with proper risk to reward
GREAVESCOT trade ideas
Target 2 achieved in Greaves Cotton. Gain of 42% Target 3 is ON.This is follow-up on Greaves Cotton. Can check link to related ideas.
Target 2 achieved. More than 42%. Target 3 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Greaves Cottan wave countGreaves cottan has been in an up trend since November 2020 there by making higher and higher low's.In the process we can see it is following elliot wave counts as shown.So far it seems like we are coming out of Primary wave 2 correction and going ahead we can acceleration in the trend as wave 3 in primary degree can take prices to 320 odd levels,which roughly double from current market prices.In case this move turns out to be wave C of zigzag we can still expect prices to travel in the range of 208-252 which is also about 30% move from current market price,hence longs can be entered at current market price as we are seeing 0-B trendline breach along with prices breaking out of wave B peak area suggesting end of Primary wave 2.We can also see stock is following 36 trading days cycle and recent cycle low coincided with primary wave 2 low's.
As far as stop-loss is concerned we can keep 120 as our initial stop-loss as it is where wave 2 has ended.Once prices advances one should trail stop-loss as per there risk apetite.
Disclaimer:This are just my views on this stock,no position should be build or exited on its basis,i am posting this for my future reference.
Greaves cotton Ready for multi year breakoutSimple consolidation of 7 years
Increased volume activity, after failed range break in March 2020
As stock is back in the range after failed breakdown & increased volume thereafter shows we might see a range break soon.
SL will be wide at 125-130 as monthly charts
Tip: Many times you will see stocks give breakout/breakdown then consolidate a bit forming tight range. them price will move with volumes in opposite side of the breakout/Breakdown
watch for long term resistance breakoutbuy above 180 in intraday
buy for swing trade if closes above 185 keep stoploss below 160
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
Greaves Cotton - ready to give big breakoutGreaves cotton looks great on chart
It has been consolidating since 2014 and ready to breakout
Very positive as all EMA's are supporting the price together
It can explode anytime
already moved 30-40 points last week.
Big EV player
Disclaimer: This is not a recommendation but for educational purpose. Invest at your own risk.
GREAVESCOT displaying strong trendPrevious Close: ₹173.10
Buy at: ₹170
1st Target Price: ₹187
Stop-Loss: ₹162
Duration: 1 week
Not guaranteed as the stock market is subjected to market risks. These calls are based on my own research and are meant for paper trading. Please do your own research if you are interested in investing or trading in the stock market.
GREAVESCOTWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
Buy Today Sell Tomorrow: GREAVESCOT for more than 5%DON'T HAVE MUCH TIME TO TRACK TRADES?
- Take BTST trades at 3:25 pm everyday
- Book profits within first 30 minutes of the market opening
- Try to exit taking 3-5% profit of each trade
- SL can be taken when 5/15 min candle close below 44EMA
Now why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall.
Greaves LongAfter touching previous Life highs
Greaves showed very sharp fall and after that it has been
consolidating in range of 130-150
It has now already given a BO but the targets are now very high
with SL of 138-140
One can go long at CMP or 148-150
Fundamentally
Company has posted loss in Q2 but after the
Conference call on 16-11-2021 there has been very good surge in price and volume
So their must be very good future plans expected from the company.
Now on the Target side 175-180 will be a major range and above that one can trail the SL.
GREAVESCOT trend line analysis , GREAVESCOTTON i have made a analysis by using few technical indicators and trend lines . My observations is as bellow.
1) Based on the trend line analysis- stock is in consolidation stage. now it has given the breakout
2) stock recently touched the support line ,and gave break out in the triangle pattern
3) It is working in a very good support and resistance levels.
Conclusion :
1) can enter now at CURRENT LEVELS
2) Targets are mentioned in the chart.
Disclaimer Note: MY views are only for the study purpose, paper trading purpose, stock analyzing purpose, better your skill purpose.
Trade at your own risk.