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INTRADAY TRADE (TRADE FOR TOMORROW | NOVEMBER 6th, 2018)
CASTROL #BUY ABOVE 149
Short if PDL is broken with SL at PDH
Long if PDH is broken with SL at PDL
Levels mentioned in the chart!
Castrol India is in downward channel and formed an outside bar.
If it continues to play in the channel, stay short
If PDL is broken Short
IF PDH is broken go Long
sell 160 PE at 0.4
sell 150 PE at 0.8
Aggressive - Sell 160CE @0.75
Conservative - Sell 170CE @0.20
Positional hold. Sl around 147 cbsl.
Don't hesitate to close before target reaches. If you want do accumulation/distribution instead of one shot buy.
Hopefully, market should remain strong so that we can get most out of out position.
Castrol falling wedge. Positive divergence . Can test 161.50.
Formed head and shoulder pattern in dailiy charts. Below 151 downside possible targets 144/141
Head and shoulder pattern is formed. Generally, head and shoulder pattern formed is formed in uptrend as a reversal pattern and inverted H&S pattern in downtrend. But, here h&s is formed in downtrend, still I am considering as a reversal pattern and other details are mentioned on the chart. Happy trading :)
LEVELS MENTIONED IN CHART
BE HUNGRY AND STAY AHEAD... EAT THE FOOD WHEN ITS IN YOUR PLATE
level on chart
Initiate a Long trade on CastrolInd, from 159.5, SL @ 157.9, Targets (1) 160.5, (2) 161.5, (3) 163.5, (4) 165.5
Continuing our old trade of Castrol Swing bet but we are facing the upper channel of the consolidation level.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of ...
1) RSI DIVERGENCE
2)PRICE BREAKOUT OF TREND LINE
3) PRICE MAKING HIGHER HIGH
4) EMA CROSS ABOVE