BHARATFORG trade ideas
Bharat Forge - Bearish BreakoutNote: This is for educational purpose only.
There is a bearish breakout from channel after formation of double top. RSI below 50 supports the bearish momentum.
Bharat forge CMP 354 Short for Target 330- 300- 280+ SL 385 -Bharat forge
CMP 354 Short for Target 330- 300- 280+
SL 385 - Daily candle closing basis
BHARAT FORGETIME FRAME: DAILY
OPINION: SHORT
ITS IN A DOWN TREND ON A DAILY TIME FRAME, AND CLOSE TO 200 DMA, FORMING A DOUBLE TOP.
ENTRY CAN BE DONE ONCE THE NECK LINE IS BROKEN.
MACD IS IN NEGATIVE CROSS OVER.
RISK REWARD 1:1.6.
TARGET AND STOP LOSS CAN BE MAINTAINED AS SHOWN.
DISCLAIMER : MY POINT OF VIEW MIGHT DIFFER FROM YOURS, SO KINDLY USE YOUR OWN ANALYSIS AS WELL,.
BHARAT FORGEIt has made a bearish Harmonic AB=CD pattern. Sustaining below 365 could lead to a pullback till 335 and lower. View gets negated above 377
BHARATFORGE LONGThere is a congestion zone around 349, where the price has found support and moved upwards. Offering a 2.5:1 RR, which can be increased with a trailing stop loss. Buy at 366, Sl at 352 and Target at 405-406.
BHARAT FORGE Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Bharat Forge - Divergence at the upper channelBharat forge is up for a contra trend trade. There is a bearish divergence in the upper channel of what could be a 3 wave correction. It is also at an important resistance level.
BHARATFORG: RSI Bearish Divergence, near major resistance zonelooks good for shorting after the trend line is broken.
can fall up to 332
BHARATFORGETake trade based on your analysis
Buy/Short just above/below the marked line.
Typically for intraday start trailing your stop loss from 0.5% towards target
Stoploss is based on your capacity
I usually hedge towards the stoploss direction
if price opens between the target and entry line, I usually dont trade that scrip.
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Bharat forgeBuy above 382 with the stop loss of 378. Targets are 386, 390 and 394.
Sell below 373 with the stop loss of 377. Targets are 369, 365 and 361.
BHARATFORGGo Long
Buy-> BHARATFORG Above-> 337 for the target of Rs. 372 - 438 +
Stop Loss Rs. 298
Holding period should be 10-12 days.
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expect a retrace and a boomit is approaching to a good resistance area . Small pullback could be expected before the breaking
buy above 357 and safe traders could put a target of 379 range others could set at 390,400
SL at 336.75
happy trading
BHARATFORGETake trade based on your analysis
Buy/Short just above/below the marked line.
Typically for intraday start trailing your stop loss from 0.5% towards target
Stoploss is based on your capacity
I usually hedge towards the stoploss direction
if price opens between the target and entry line, I usually dont trade that scrip.
LONG BHARAT FORGELONG NSE:BHARATFORG 336
SL 330
TARGET 349/355
Stock is in uptrend and good supply zone is near 336 level
Bharat forge- Volume ContractionHeavy volume contaction
Expecting a big move in any direction ,When the price falls out of the box
