MRPL failed to breakout resistance zone making a breakout failure setup. safe players can go short below 80.5 with target of 76.5 and stoploss above 82.5 risk:reward ratio = 1:2 if stoploss gets hit then just reverse the trade that is go long above 82.5 with stoploss below 80.5.
The stock is moving nicely between parallel channel having multiple alternative touches on both sides. Yesterday's Doji Bar got confirmed today. One can buy the stock now or on dips for a target of 115. It would provide decent Risk to Reward ratio.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
I will short below 115 with a stop loss of 118.5 and book profit around 111
WHY: weekly trend down, daily trend down,complete market down
WHEN:If it goes down with bearish MACD and if risk reward ratio satisfies me
I am not SEBI registered adviser this is my personal opinion and this for my recording only
Although not 100% valid pattern, however, If the scrip breakout from core resistance level of 141, One can aim for price target as defined
Enter above 143 (Post confirmation) as the day chart is showing bearish retracement for now after uptrend..
MACD golden cross (bullish breakout pattern) also seems to be showing the way where short term moving average goes...
The stock has broken out form long term range , its on bullish trend and now it has to retest the range in order to confirm the continuation of trend for further higher high
here I am just looking for few points , With open i am looking for reversal sign for short selling for target of 134 , its not advised for everyone who do not have experience how to take...