Enter long in Eicher Motors at current levels (2515-20) as expecting pullback from current levels.
Immediate resistance and Target will be at around 2580 and on the lower side expecting 2495 to act as Support also or SL if moves below that.
LONG - 2520
TARGET - 2575-95
SL - 2490-95
All important resistance and support zones are clearly marked on the charts.
And we can clearly observe in the charts that in TATACONSUM for the period of time 640-45 was acting as very strong support.
As two red trendlines are seen along with market sentiments expecting this time to break below that thus giving us the short entry.
So for safer side it's good to...
All important zones marked on chart very clearly, you can easily identify the support and resistance levels of MGL it faced over the time period.
My personal view is for upside breakout but will wait for the confirmation as markets moves with setup and price action not on our thinking and mindset.
So even I am expecting MGL to move upside till 1230-1250 before...
Good to enter long in DRREDDY as Break-out is seen in the stock above trendline along with good volumes.
One can go long at current levels of around 4560 for a target of 150 pts from here or around 4710 levels with sl around 4420 levels.
BHARTI AIRTEL looks weak on charts.
As it is trading in it's strong area of resistance of support of over the year.
Enter Short Below 525 as shown in area box lower levels with stop loss near blue trendline or upper zone of channel.
Also it breached the lower red trendline therefore probability of moving lower is high keeping in mind if levels of 555 & 570 are...
Dabur is currently trading and very strong resistance area that it faced over the past year,
had to wait and see if it breaks above that resistance area and thus giving us the opportunity to trade long in dabur.
Else if follows the same pattern as doing for the past year stock might retraces back thus giving us opportunity to go short.
for trading ideas one can...
LT IS CURRENTLY TRADING IN ITS VERY CRUCIAL SUPPORT AREA.
MOST OF THE PEOPLE BELIVES IT WILL REVERT FROM THIS SUPPORT AND THERFORE ONE SHOULD GO LONG.
BUT AS PER MY VIEW IF STOCK IS HOVERING AT A PARTICULAR PRICE IN THIS PARTICULAR CASE AROUND 895-905 THEN IT'S SURE THAT SOMETHING IS COOKING AND WE SHOULD BE CAUTIOUS. (MIGHT BE PEOPLE WERE RIGHT ABOVE GOING...
EXPECTING SOME IMPULSIVE MOVEMENT IN BHARTI AIRTEL IN EITHER DIRECTION.
IF CROSS BELOW RED TREND LINE CUM SUPPORT SHORTING OPPORTUNITY WILL ARISE BELOW 508 FOR TARGETS OF 10, 20, 40 & 60 POINTS.
IF CROSS ABOVE GREEN TREND LINE LONG OPPORTUNITY WILL ARISE ABOVE 530 FOR TARGETS OF 10,20, 40 & 80 POINTS.
IN BOTH CASE SL AS PER YOUR RISK CAPACITY.
BANKNIFTY looks week below 21640 so we might be entering Short trade if moves below 21640.
In the banknifty 30 minute chart we can clearly observe that price was moving in a channel between green & black line which was eventually breached.
But it took support at the red trendline and again retraces till lower side of channel and falls again and breaks red trend...
Banknifty moving in a channel and narrowing its range thus hinting us to break the lower trendline. Might be risky as we were entering before the breakout but if this thing works we may easily capture around 300 points.
Most of the people might be wating for breakout of lower trendline thus entring before the audience to have the first mover advantage, if it will...
As mentioned already in my earlier idea (attached below) on Banknifty that if buyers has to take back the control Bank nifty has to move above 21920-930 which might stretch upside towards 22200-22300.
We booked profits in that trade and Banknifty moves similarly as expected by us and now we can clearly see that 22300-350 is acting superb support for Banknifty...
Observed that since 12th of June LT was getting very strong resistance around 900 levels as clearly seen in the chart with Red Line.
During past few sessions LT tries multiple times to break it and it does moves till 890-900 zone, but strong buy is seen and it bounces back from there.
Keeping this in mind and the present levels LT looks good for Long trade setup...