CHOLAFIN - Channel BreakoutChola fin has broken out of the channel pattern with a bullish candle. Entry and SL levels are mentioned on the chart. Plan your SL before taking any trade. 10% upside movement can be expected in coming sessions above 542.
CHOLAFIN trade ideas
Cholamandalamcholamandalam volume buying started from 470 level
at start of the month
than weaker hand
taken out by retesting 470
now small hurdle of 515
if this time 515 levels taken out than
530--540+++ level can be seen in short
time....
Expecting Breakout ✌✌✌This scrip is expected to give breakout in the coming days. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏
Cholafin - RSI DivergenceGood Stock with good fundamental
add above 515
SL 490 on closing basis
tgt 540 560 580++
RSi divergence in daily chart and Taking good 200EMA support
Chola FinIt has bounced back from this level like a king twice back in the past. One can see an inverted cup and handle pattern too. But until it is moving above the zone I'll be maintaining a positive view on Chola fin.
How to trade 20% corrected stock?Chola fin has corrected 20% from top and taken a key support at :
- EMA 200
- Fib 0.68 and
- at support trendline
Multiple factor supporting the stock for long trade.
For Long : Entry 485 S/l 470 Target 543 (R:R 1:4)
For Short only if support trendline break, stop loss will be Rs 485
Chola finance Long ideaSimilar to my Bajaj finance idea on hourly this one is on daily and patience would be required.
The 500 area in the stock has been a demand zone which was once broken and given a bear trap with a massive rally of 70-80points. After that massive rally price has now come back to test the 500area. Hourly atr shows that the stock has consolidated for a while and enough consolidation in the stock seen.
We plan to buy the stock in futures with stops of 10points for a target of T-570 T2-640.
chola Fin looking bullish in shorter time frameCholafin taking support and following RSI trend , should move upwards till 540, if breaks 540 should be very bullish, if the support of 502 is broken , should move down again till 480
cholafin range bound,can expect 585 now currently at support and can see formation of doji
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk
CHOLA FINANCIAL - FAVOURABLE RRThe stock has been moving in a range and recently tested the support line.
However has closed above the resistance with good volumes (the long green candle which was formed on 2nd Aug and the candle on 5th Aug gave double confirmation). Seems ready to take on the second resistance line. Converging moving averages are also a positive sign with shorter moving average crossing the longer ones from below.
Ripe for a swing trade.
S.L: 510-520
Target: 580 -585
Cholamandalam Investment and Finance Company Ltd.DATE - AUG 02, 2021.
1. Cholamandalam Investment bounce from previous SUPPORT.
2. Formation of Bullish Engulfing candlestick. (DAILY CHART)
3. High traded and delivered QTY.
4. High increase in OPEN INTEREST.
CHOLAFIN: If it is true Bullish reversal pattern then lets enterHello Traders!
The candle has been so strong upright after continued bearishness.
If it sustains above 524.30, Take an entry around 530-533 on pullbacks from 541. And then target 572 as the first target, and trail the SL post that. When taking entry the SL would be 514.
Happy Trading!
Formed a rounding top.. Breaking the support and if sustain 2-3 days below it will lead to a fall till 390. As quarterly results are not good..
But there is an equal chance of bouncing back.. From here..
