RainbowTraders

RainbowTraders Updated 

Breaking out channel pattern with huge momentum giving conviction for LONG trade with favorable RR.

RainbowTraders Updated 

TATAELXSI seems to be move up after retracement and LONG can be seen with very small risk with great RR

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VODAFONE IDEA trading at weekly support within channel pattern. It would be interesting watching if support will be respected or breakdown by price; leads to nice LONG / SHORT trade respectively with great RR.

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Arvind breaking out of parallel channel with momentum. Buy: 134.50 Stop Loss: 129.00 Target: 154.50

RainbowTraders Updated 

APOLLOTYRE breaking out the resistance of channel pattern and sustained the level. Considering the consolidation above resistance signifying the quick up-move followed by the consolidation. Entry: 241.50 Stoploss: 233.20 Target: 259.95

RainbowTraders Updated 

ICIL Long: Breaking out from ascending triangle pattern and the candles signifying very strong momentum while breakout. Levels as per chart.

RainbowTraders Updated 

Sustained breakout above resistance level in 4h timeframe signifying potential of sharp upward movement in Spencers. Entry at 128.80 & stop loss at 113 with risk reward 1:2 may be good trade.

RainbowTraders Updated 

Scrip has break-out resistance with good momentum from support; hence looking good for LONG at 372 with SL 350 and RR 1:2.

RainbowTraders Updated 

CONCOR: Entry at retracement level within channel pattern CMP 720 SL 685 TGT 820

RainbowTraders Updated 

SHANKARA: Rising from retracement level after breaking out resistance ENTRY 601.35 SL 520.40 TGT 762

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A strong channel breakout and support taken at retracement adding a conviction to enter long at 417.50 level with stop loss at 390 and expecting to hit 489 - 500 level.

RainbowTraders Updated 

Tatapower trading at crucial resistance level which was build due to four unsuccessful attempts. However the distance between near support and resistance has covered by only 3 strong bullish candles this time and that indicates a strong momentum. This signifies possible breakout from this level. Levels: Entry: 145 Stop Loss: 131 Target: 180

RainbowTraders Updated 

After breaking out the important resistance level that INDIGO failed to break multiple times previously, it has taken a support at the same level this time and hence it seems a good BUY trade at 1953.60 with SL at swing low 1859.70 and RR 1:2.