Double top pattern formed and neckline broken in 28th July 1D timeframe. It has taken support on 50 EMA line.
It has good potential to be a swing trade if it stays down below 50 EMA line on next trading session.
Go short for a good swing trade if price breaks 276.30 which is a good resistance level.
Target for swing traders can be - 263.70
If price forms...
Inverted Head and Shoulders Pattern (Bullish) - Pullback Complete (Daily Chart)
Inverted Hammer Candlestick Formation @ 200 MA Support
Long Trendline Break and taken support
Possiblility of Golden Crossover
CMP: 245
Target: 300-310
Stop Loss: 225
Risk to Reward: 1:2
Trade according to your risk appetite
midcap stocks are going to boom.
long term investment; min 70% return
huge potential is there.
investment ;
trendline is not broken yet,
if you are intrested in investmet, go for it with small risk,
more possibility is there for breakout.
Looking at consolidating in Crude we can see further developments in Oil stocks - hind petro is giving good consolidation breakout from current levels . One can check your levels before taking the trades
Looks like Hind Petro Gave Breakout, need to see if it's real or fake.
Following is the logic behind this Analysis.
1. Breakout of Range with Good Volume
2.Consolidation before breakout at resistance.
3. Breakout with Good Bullish Candle.
It's just my Analysis not Recommendation. Let's see how it goes
Chart -> Hind Petro Daily
Consolidation near resistance and then breakout with volume. Perfect!
CMP: 276
Good Range: 260 to 275
Target: 305, 330, 355
SL: 253 Daily Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Hindpetro closes 262.35 and buys with a stop loss of 242 then targets are 280-300-325-350+.
Buying reason.
1 --> Price is making a range near the #breakout point.
2 --> Price is also on a weekly chart create the range and near the 200 #ema.
3 --> #RSI is cross the 60 levels.
4 --> #ADX is showing an upside move and +DMI rising.
5 --> #Volume is show...
Stock looking good for an upmove showing a good bottom structure and a downward trendline breakout and is looking good above 265 levels towards targets of 300-350-450 , currently it is stuck in range between 255 and 265 , wait for breakout retest and SL at 250 after breakout
