Maruti has broke out from a range Immaturely, which makes the price to test the previous levels out of Curiosity. We are now at a perfect place to Short.
As Currently it is trading in a narrow range, delaying to enter may result in loss of opportunity, so be ready to short before it breaks out.
Reasons to Short:
Negative Global Sentiments.
Resistance + 61.8 Golden Ratio.
I intentionally left blank the SL and Target levels, because of every trader has its own way of entry and exit.
Yesbank Got Broked through the range, and it will look to test the Resistance above, and this is the region Friends, where we should take a short Confidently. NSE:BANKNIFTY Has already Broked the Channel and this may lead to other banking stocks to follow the spree.
Check out How BankNifty broked out of the channel for Better Understanding down below in Related...
Bank nifty is been in channel since months, and looking at it seems like its leaning towards the downside and looking for the next corrective move since Jan 2017. Also the RSI indicates Bearish Divergence.
It may bounce from the current levels, but sooner or later it will break that channel and we dont have to miss that move. If it breaks the channel now, we shall...
Price tends to be loosing the momentum to the upside. while RSI is diverging and the price is resisting from hitting the top surface of the channel.
Indicating a reversal After an Impulse Move and likely to correct towards 190.
Enter at break of the channel or by looking at the price action for good entry. If Channel is broken to the upside, Trade will get void.
VEDL has been in correction phase after the impulse move and is experiencing resistance on the upside. if it breaks through that pattern downside, it may fill the Gap and moreover it can test the 230 Whole number. If it breaks to the upside, Then the trade will become invalid.
Enter According to the price action.
Price is trading in a diagonal channel which just got broke to the downside on 15 min. TF. Now It' ll most likely looking to take the support at the 20 period EMA and the support at 1480 for resuming the Uptrend. also the breakout has failed partially.
Entry - 1510-1495
Target- 1480 - 1473
Stoploss - 1530
Supreme Industries has closed above 3 month High . it has Broken the channel and will look for pullback near 1200-1210..which will remain our entry zone . Targets shall be 1228-1238-1248 with Stop loss at 1185.
After the continuous selling in GAIL, now probably it may look for a pullback around 38.2 Fibonacci Level.
Entry can be at 380-382 Range if price action seem bullish, if it trades below the low of the previous candle (379.80), Be patient and wait for the price to cross above 380 level to enter.
Trade has a good Risk/Reward.
NSE:RELCAPITAL 1.55% Has been trending Downwards and had took the pull back for such an impulse move forming a bearish Flag ...now looking at those level where it pulled back their MUST need HUGE..HUGE Buying Power to Cross These 5 Resistances:
1. 20 EMA
2. 50 EMA
4. 38.2 Fib level
5. Formal Resistance
IF it Find Resistance Near those levels...
By Looking at the activity while Gap filling, it seems large Institutions are accumulating and are in control to push the limits of TATAMOTORS . Target 1 can be achieved the during the next session and the Target 2 Can be achieved the 2nd Day. Index Direction May influence the Direction of the trade, So Place the trade Looking at the overall market conditions!
Reasons to Short :
1. Cloud Breakout
2. pullback at 38.2 Fib Level
3. Resistance at 50 period EMA
4. Wicks at 1162 Resistance level.
5. Evening Star
6. Downtrend, obviously :)
Entry, SL, Targets are as plotted on Chart.
Hindalco has been struggling to Break out of the Range since months on Daily TF, but this time theirs high probablity of breaking out of the range looking at the maturity of the pattern on Daily TF.
The Channel as well as The Ichimoku Cloud has been broken out on 15 min TF. After the open on Monday, Hindalco may test the 200-201 level which is a strong area to...