Today I picked FINCABLES because, it broken Cup pattern on closing basis. The following factors are considered by me for picking this.
1. Huge Volumes at breakout.
2. Cup Pattern
3. Strong formation with price action Supporting the flow of price
For BTST trades Keep profit as 2% - 3%
For swing trades and for positional trades, please follow levels mentioned on...
Stock Name - Finolex Cables Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 488
#This is not Buy and Sell recommendation to any one. This is for...
In Stage 2
Retest candidate with low selling volume
Buying Pressure visible on daily candles
Volume support
Buy on cmp and avg it till 450
SL is black trendline breakodwn
Target atleast 20%
PRICE IS CONSOLIDATING BETWEEN SYMMETRICAL TRIANGLE PATTERN, and price has just took support from bottom line of the triangle, since price has started moving in upward direction, we can take this trade , first we observe chart on 1week time frame ... but to reduce stop loss and increase risk to reward ratio...we shifted to one day time frame..
in 1 week time...
FINCABLES | Retesting the demand zone - Potential for 35%
CMP : 550 (Dip : 525)
SL : 500
Target : 750
1:6+ risk reward setup
P.S : We can keep SL with some more buffer also based on indviduls risk appetite - i dont have stoploss on this stock upto 450 - as i'm long time investor in this stock.
buy above 430 in intraday and swing
for swing keep Stoploss below 399
for swing taregt 500,520 but keep booking partially in between
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for...
Fincables 15 min over all view is given in the chart. It is just a view. Trade at your own risk. I am not SEBI Reg, and view is for education purpose only.
Stock reached the confluence support of yellow channel, white pitchfork median and a strong horizontal S&R.........I see this as the C point of a gartley pattern..........likely target 629 which incidentally coincides with the yellow channel median....which again is a confluence..
N.B. This is a positional idea.....can take time to materialise.....any fall can be...
Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...
Technical Analysis: Peak-and-Trough Analysis
This concept of Peak-and-Trough Analysis beautifully explained by Martin J Pring in his book "Technical Analysis Explained".
Excerpts from Martin J Pring book:
"This principle reflects Charles Dow’s original observation that a rising market moves in a series of waves, with each rally and reaction being higher than its...
Price has broken out of the ascending channel making the width of the channel its next target.. the stop loss level would be 557 on closing basis. Weekly closing above the channel would add more conviction....topline is jumpling leaps and bounds which shows growing demand for its products
Finolex Cables Ltd - 07.01.2022
The stock is trading @ 527 levels
The prices are at SUPPORT
The prices are below EMA
There is a SHOOTING STAR in daily chart
Let the prices go above 541
watch out for the price action
