Bharat Forge stock could be a buy stock for intraday on 07-12-20 due to channel breakout
NSE:BHARATFORG has retested C&H trendline. Can buy @CMP for a TGT 540, SL 490. Thank you.
****Disclaimer**** Trade with risk management but don't get afraid of taking risks because the winner is who BETS as well as never gets out of CHIPS...!!
HOW TO FOLLOW ALGO SIGNAL: Deciding buy/sell 1.Strictly use only on 1 hour time frame. 2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity. Taking a position: 3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...
Since the pattern formation of Inverse H&S took 632 days for formation, the target willl be achived by an year or so, so if anyone doesnt intend to wait too long,then the best option is to wait for tgt of the ascending triangle and book profits and then move to next idea. Stick to proper position sizing & risk management, and once the trade is profitable trail...
BHARTFORGE has given weekly neckline breakout of H&S. looks 850 in a bull run, however 780 which is all time high may act as hurdle before that.
ABOVE 543 52 week high weak below 400 above all important moving average
Bharat strong after 544 level. Buy Price-550 Target- 580 (1st Target), 600 (2nd Target) Stoploss - 530 Duration - 5 weeks Thank You. Disclaimer: Don't just blindly Trade or Invest, learn and then trade. Manage your risks properly. This analysis is purely for EDUCATIONAL purpose
levels mentioned on chart buy ion daily will do a follow up for higher tgts
UNDERSTANDING TRENDS THROUGH SUPPORT AND RESISTANCE.
READY FOR CHANNEL BREAKOUT FOR TOMORROW
Approaching the important weekly resistance again. Closing the week above it can be good for further up move. For educational purpose.