With MSCI rebalancing and strock retest of all time high 1836 plus bank nifty looking strong. Breakouts probabilities are very high and the stock can be picked for a swing trade of at least 5% with extended targets reaching 2000 (10%) with a time frame of 3 months.
Confluences= 38% Fibonacci retracement of impulse point + 21 EMA resistance + Successful retest of support zone which is now resistance + Negative RSI divergence
Breakdown of Rising wedge pattern. Slight negative divergence in RSI.
A short position can be created in ITC. Took retest of the support line which is now acting as a resistance.
above 1550 a long can be created in colpal. +ve RSI divergence
Nearing support, if holds it then we can look at some reversals and create longs. buy 1 lot near support zone. If trade moves in your direction add more lots. Don't buy all at a singe go
If crosses retracement level, then go long otherwise short
if it holds retracement level, then go long otherwise short.
if it holds retracement level, then go long otherwise short.
M pattern break down + previous swing support breakdown. also, stock is trading below its 9 and 21 EMA. Targets on chart
Broke long time resistance. Good upside move in struggling index. Above 9, 21, 50, 200 EMA. wait for retest and enter.
Inverted cup and handle pattern on daily charts. good opportunity to short tata consumer.
Wait for retracement near 840-846. Create long near retracement or if opens above previous day high create long. Positional target- above 940+ near new highs
UPL is trading in a descending triangle formation with a positive RSI divergence. possibility of a breakout is high as the index is also at major support zones, if it holds it then we can see some positivity in stocks.
A short can be created in voltas. RSI divergence and negative index outlook.
Bank Nifty is trading in a descending triangle range. Breakout of either side will give good momentum. Bi-directional trade possibility.
Can be shorted till 644 @644 can be accumulated for long term.
Looking good for longs till 200. Reasons on chart.