Trade ideas
go for short sellingtorrent pharma forms a lower low, lower high in monthly charts indicating a downtrend , in daily charts currently the market is in upper channel line forming a shooting star indicating a trend reversal accompanied by major resistance levels if confirmation comes by candlestick patterns for bearishness in daily charts we can go for short selling. .
TORRENT PHARMA, LONG, TARGET-1350, STOPLOSS-1240Share is moving in a channel (shown by blue lines). In last few days, Share has increased with good volume but has came down with comparatively very less volume (volume highlighted in graph). Share has formed Bullish Harami Pattern (shown in blue box). RSI is also supporting price rise. Share price will go up.
How i take trade based on structure No indicators People / Traders , i have been asked by many traders why i always mention about my wins so loudly? there is reason which i am going to explain what i am doing and why i get success more than any traders who try to take trade based on some indicators or some one chart or even some time they force the trade to take some profits and end up in losing the money
01) I do not use any indicators
02) i do not follow any laws of trading or so called laws which do not work , like support or resistance
03) i do not trade because the candlestick pattern is formed
05) i do not trade because of news events , or what so ever i do not trade
06) i do not follow any theory of Dow John , R.N.Elliott , or Richered waykoff or any theory in the trading world which is highly effective or highly preferred
i Just do not follow any thing
i only follow structures which repeat by them self , they give clear picture of price action , they represent the entire seen on price movement
there is huge psychology behind identifying the price action in specific structures which can not be explained in simple way
but i have tried to explain how i make my trade more profitable then any one
Rules
" Price analysis form Monthly to Weekly , Weekly to Daily , Daily to 4 Hour , 4 Hour to 30 Mints "
There are no rules in this further
so do not try to take the trade when things are congested , or not evenly in order for trading
avoid Options trading which is not meant for Small retail traders
Please try to identify what i have done in the chart and try to learn if possible ,
The most important message is get educated yourself with basics at least , before taking trades
All the best
Very Weak SetUp - Torrent PharmaTorrent Pharma has very weak setup.
1. Standing at very crucial Daily, Weekly, Monthly support.
2. Monthly made Head and Shoulder pattern.
3. Monthly trading below fib 23%.
4. RSI below 50. (even daily weekly & monthly)
5. Touched lower band of Bolinger Band.
A close below 1200 can trigger massive fall in this script.
Giving no targets just watch the price actions and take positions, most favorably SHORT.
Upside for Torrent Pharma?Torrent pharma broke out of a 'Falling Wedge'. I think it will retest the previous high atleast and if it breaks that high and goes beyond, we might be in for a big move. For now, a retest of the previous High is a good target to look at.
Bullish Hidden Divergence on the MACD seems to support the idea of an upmove.






















