Logic of the prescribed trade:
1. Top down approach- Realty sector in strong uptrend
2. The stock is above 60 on all the monthly, weekly and daily RSI's
3. The stock has confirmed the RSI's PRD by an immediate positive candle.
(22/1/24)
Atharva Dhokte
RBL Bank reached an ATH of 196.25 in Aug 2010 and corrected approximately 97% to reach 6.25 in the month of Mar'20. It then took support at lower trend line of the round bottom and rose 6.7x in 3 years i.e. till Nov'22. The price faced correction for next 4 months and has again started the upward journey rising 71% in last 3 months.
Stop Loss: 40 (daily closing price)
The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...
SWING Trading Strategy:
Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)
INTRADAY Trading...
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
Vascon Engineers Ltd: Symmetrical Triangle pattern
Levels mentioned on chart & given targets seems achievable.
Plan your trade accordingly.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’,trade at your own risk.
"Trade what you see, Not what You Think"
Happy Trading(:)
Vascon Engineers Ltd is an engineering company engaged in real estate. Hospitality, manufacturing with an operating revenue of more than 700 crores . Stock is now in a rally mode with its 52 week high. Stock is now testing it's 3 year long resistance trend line. If it breaks then a 100% move can be expected in 3--6 months time. It's also can be considered as a...
Vascon Engineers Cmp 70 dated 5-10-2023
Weekly Chart (Positional View)
1. Cup & Handle Pattern Bo @ 70.50
2. Price Rise with Volume rise
Buy above 71 target 75-80-85-90-95-100 SL 58
It is just a view, please trade at your own risk.
