HAVE A WATCH.
LONG PREFERRED ONLY ABOVE 560. HENCE DO NOT BUY IF PRICE DOES NOT CROSS 560. VERY IMPORTANT.
Target 650 plus.
Cup formation in progress in weekly chart.
MACD showing bullish signs.
Hi! I trade NSE stocks using Demand and Supply zone strategy, mostly in Weekly time frame.
Here's a trading plan for Shakti Pumps
Weekly location: Equilibrium
Daily trend: Up (Let's go long)
Hourly zones: Demand zone marked on chart
Entry: Type 2; i.e. Wait for 1 candle to close inside zone and buy at next green candle
Trade duration (max): 2 week
Price has been in a downtrend and has managed stage a turnaround recently. Look at the magenta swing - the momentum and volume. The move manged to clear prior swing high, which resulted in the disruption of the sequence of lower highs & lower lows.
Now look at the fall from the magenta swing high: The fall has been slow and gentle with relatively lower volume....