IPCALAB, Inverted Cup & Handle Pattern {Chart# 548}IPCALAB has formed beautiful inverted Cup & handle pattern which is bearish in nature. It has closed at neck line (around 900) and can give breakdown in next trading session.
This is intraday trade until it closes below 890 in next trading sessions.
Best move possible if Nifty opens gapup & moves down in the initial first half.
Entry @Below 897
Safe Traders@ Below 895
Thanks
Piyush Gupta
Learn & Earn
IPCALAB trade ideas
IPCA Lab Broke Out !!📈 IPCA Lab 📉
IPCA Lab broke out from a downtrending trendline zone after testing three times. Yes it has closed at high of Fab and March too.
So I am biased on long side.
On Buy Side I am looking for initial Targets of 1100, 1139, 1211 and 1318.
StopLoss should be kept at 965.
It offers 1 : 2.5 Risk Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
[POSITIONAL] IPCALAB SHORT BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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IPCALAB SHORTI hope you can now see how IPCALAB represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
IPCALABS, Medium risky "Trading setup"....By The_RedTickerMakes sense to me...been falling a lot, slowing losing strength.
As such, not a bad stock, makes it worthy of being bought after such a dip.
Its also at an investment level, but I am unable to generate longer duration view so will aim to trade just the chart for now and rethink if it gets into significant profits.
*NOT AN IMMEDIATE BUY, entry level is mentioned on chart. Also, it should be a closing level entry and a closing basis SL.
TF for this setup is DAILY.
#The_RedTicker....
IPCALABThe stock is moving in ascending channel pattern and current price is trading at the lower trend line of the channel pattern. If stock holds 2075 level and manage to trade above the lower trend line, then we can expect continue of the ascending channel pattern and can see a good up move in the stock. we can expect in short term 2200+ to 2400 levels.
Please do your own study before any trade. I may be wrong any point of time.
IPCALAB :: Near buy ZoneAccumulate on dips during the next 4 -5 sessions near the buy Zone..
S/L : 1950
Target :: Use FIB levels / Channel Top
Reasons for increased probability::
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-- Good buying pressure (Demand candles) seen below 2150 levels with decent volumes.
-- Momentum drop has paused in RSI,, hoping it will pickup
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Caution : Pharma stock... Prefer allocating <5% of your capital.
This is just a probability and trade only if you know about "Risk Management".
Consult your financial advisor to know more about the risks associated with buying / selling shares.
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