1. Nice Pinbar formed at Big Round Number 1000.00
2. EMA 365 acts as Resistance for that Pinbar.
3. Fibonacci Retracement at 61.8% level.
4. Watch that trendline which is also acts as resistance.
5. Take Profit and Stop Loss level clearly mentioned in the chart window.
The scrip display double bottom bullish trend on the W timeframe, the closing on the weekly charts also break the structure which was originally a downtrend consisting of lower highs.
Entry looks to be promising with a long term target.
BIRLACORPN:- Symmetrical triangle pattern is formed, you can plan something on the side which gets breakout, till then keep an eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and...
The Birla corp daily chart analysis for reference only.
The chart is self explanatory all levels marked for reference.
Also note this reference is supported by backtesting for previous years.
Have no personal exposure.
Conclusion:
The price is in bullish Trend.
Note for everyone who came across this reference:
This chart analysis is only...
BIRLACORP corrected by almost 29% from its 52W high of 1156.55 and took support at the lower side of the triangle formed as seen on daily chart. The scrip has already given a breakout from traingular pattern, but large candles are yet to be seen.
Recommendation: An Entry above 933(close)
Fundamentals:
ICICI MF holds 4.52% and HDFC MF holds 1.1% of their...
Go Long above 1016.15 for Targets of 1209.3, 1402.45, and 1595.6 with SL 823
Reasons to go Long :
1. On a Monthly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.618 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish...
stock is showing good support following the trendline.
and break the resistance by good volume
add stock to watchlist any retrachement can be seen as buying opportunity.
all levels are mentioned on the chart
