Price will take support and start to reverse as COLPAL forms Bullish Price Channel .
Disclaimer: Analysis in charts are only for educational and information purpose only. Invest or Trade at your own risk management.
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Please use 3mins chart if the script open and close within the Green and Red Line its high probability trade do not waste time if open Gapup and Gap down. Can Initiate position as per the direction. Also leave the trade if it does not triggered in first 2hr as this is momentum based trade
Disclaimer: All charts are purely for educational and information purpose...
CMP 1444
BUY SIDE VIEW :
THE STOCK CAN MOVE UPWARDS FROM HERE
TARGETS 1459/1474/1498/1532
HOWEVER THE STOCK WILL FACE STIFF RESISTANCE AT 1498 LEVELS & CAN REVERSE ALSO
SL 1383
SELL SIDE VIEW :
POSITIONALLY SELL IN RANGE 1533 TO 1540
KEEPING SL AS 1570
TARGETS 1498/1472/1444/1414/1400/1373/1350
COLPAL is an upwards trending stock.
It is struggling to breakthrough its weekly resistance ranging from 1440-1455.
It has though formed and Inverse HandS pattern thus an up move can be expected from current level as we see quite a number of downward rejections by the stock.
Trading strategy:-
Intraday traders: Enter the buy positions at 1425, 1420, 1415 with...
As seen above i have clearly marked the two support lines one for people who want to keep strict sl and 2nd one for risk taking people . The stock given decent volumes but good delivery after AGM has cooled off the volatility. Immediate resistance can be seen as 1404 which is closer to 200sma that is 1404-1405 levels, which wont be easy to break post which we can...
As seen from the tend, the major trend is on the upside and 0.618 retracement level was tested once. The top should now move to target of 1460 with a SL of 1360.
After forming an ascending wedge pattern for 2 months, the stock seems to break downwards. But if we closely observe the 1 min chart of past 4 days which forms a descending channel pattern, the last day seems to come out of the channel and form a hammer. This could mean a pull back from the break down and possible short term uptrend. Alternately the overall one...
