CESC trade ideas
CESC Short Trade Setup May ExpirySell June May Future CESC Entry ~ 552, Stop ~ 575, Target ~ 500, Lot Size ~ 800
CESC: 60 MinsCESC seems to have completed 5 wave cycle on the upside. A consolidation around 570-580 would provide and important insights into the further move.
CESC Stock ( A Value stock within its Value ?)CESC Stock ( A Value stock within its Value ?)
Stock Support at 570-575 Levels
Stock is at Major Support level and if continues to hold this support level then another move can come up to 660 Levels
Formation of rectangle pattern and the stock is trading at lower bottom of the rectangle
If Support breaks then stock will move till 500 Levels which is unlikely
Stock is Trading at exact 100% retracement level which is again at support level of 570-575
Fibonacci retracement
100 % Retracement ; 576
61.8% retracement Upper - 633
78.60% retracement level upper ; 648.55
RSI; RSI is at 40 at 14 day which is also strength showing in Long Moves
Momentum in last 10 days is also showing improvement towards upper side right now 7.40 Points which is less also which is closer to Support
Levels
Donachian Level Lower Level 570 which is stock is trading at current levels , Basis 587 if breaks can go long upto 605
Disclaimer
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CESC : Cup N Handle Pattern found in Daily Chart with OutperformCESC : made cup n handle pattern in daily chart.
So, if it will break 668.35 above and sustain 2-3 days , It may go up to 700, 728 levels.... after breakout sl would be 630 ...
This is above 50 days EMA
Breakout of Cup n Handle is also 200 Days EMA.
So, Super Excitement to close above this level to confirm new upside.
In this covid19 situation stock is strong enough.
as per above data.
Risk is yours and Reward is too yours totally.
CESC AT A CRUCIAL SUPPORT ZONESUPPORT IN THE RANGE HAS BEEN HELD UP FOR THE LAST 2 WEEKS . A BREAKOUT CAN BE SEEN IN THE COMING DAYS. VOLATILITY CONTRACTION PATTERN CAN BE SEEN AT THESE LEVELS. LONG AT THESE LEVELS WITH COMFORTABLE STOPLOSS WILL GIVE GOOD PROFITS IN THE COMING WEEKS. BY ANALYSING THE VOLUMES WE CAN SEE THAT THE AVERAGE VOLUME OVER THE LAST FEW WEEEKS HAS BEEN ABOVE AVERAGE. A LOT OF BIGGIES ARE BUILDING UP POSITIONS AT THESE LEVELS.
CESC, Head and Shoulders, 30 mint Chart, Learn and EarnCESC 30 min chart Head and Shoulders
Head heigh approx 86 point
The potential down target at 500
For short traders, it is advisable that maintain stop-loss 600 nearby and trade. The stock is showing that it will move in the down direction.
Wave Analysis CESC Weekly Elliot Wave Analysis
In most cases a truncation forms in impulses with huge third waves, so if we come to the conclusion that if there's such a case, we should watch out for a possibility to have a failure in the fifth wave.
First & foremost wave 4 has not overlap wave 1,
Wave high was @ 642.95 level & wave 4 low was @ 642.60 level.
As we have completed EWP structure (Pattern) in The Calcutta Electric Supply Corporation or CESC is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group.
Using proper Risk management is absolutely essential when trading or investing in a volatile stock such as CESC. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading.
The Stock will start correcting from its previous high of 668.70 (61.8% Retracement) till 480 (23.60% Retracement) level.
SHORT VIEW
NSE:CESC
Buy and Sell around the Level - depending upon Market TrendCESC closed on 7th May at 635.85 The Price Action on 8-May shall Start at 630 .
Buy OR Sell around the Price Action Level depending upon the prevailing Market trend.
LONGCESC cup and handle pattern breakout
formation of doji candle (indicision) or morning star doji on 30 march after than a big bull rally
The smaller the retracement formation of handle, the more bullish the formation and significant the breakout.
in 15 min chart bearish divergence
Buy this stock around 629 NEAR NECKLINE OF CUP AND HANDLE
First target is- 700
Second target is- 750
MUST CONSULT WITH PROFESSIONAL
CESC ShortCESC Short can be build on support break. Red Rectangles should be probable profit taking zones
3.0 - CESC Long ideaCapital available after previous trade 2.0 = 1941280
Risk 0.2% = 4000
Position size = 4000/71 = 56
Investment = 598*56 = 33488
Capital available for Trade 4.0 = 2000000 - 34780 = 1907792
