Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my...
LIC Housing Finance is very likely to fall today. Stock was in downtrend from 18th January but, after taking a support at 433.5 stock reversed back and travel in a rally. Yesterday stock has given a doji candlestick pattern which suggests break in this rally and it is also proved by the increase in selling volume. So, from here it is huge probability that stock...
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
This one will make one more move up ,
It has two possibility
01) it will come down and consolidate and then Move up
02) It will start moving form the current level
Which one will happen i dont know , but i am looking for one more drop and reverse on smaller time frame
Lets see how it moves