THE STOCK IS TRENDING IN A TREND CHANNEL AND RESPECTING BOTH THE ENDS.
A ONE DAY CONSOLIDATION WILL GIVE THE CONFIRMATION TO GO LONG IN THE STOCK.
STOPLOSS BEING TODAY'S LOW - 46.5
TARGET BEING THE UPPER END OF THE CHANNEL.
BANK-NIFTY HAS GIVEN A STRONG CLOSING FOR TODAY. ALSO A LOT OF BANK STOCKS HAVE GIVEN A BREAKOUT WHICH WILL PROPEL BANKNIFTY TO NEW HIGHS IN THE COMING SESSIONS.
BANK-NIFTY WILL REMAIN IN THIS RANGE FOR SOMETIME AND WE NEED TO LOOK AT VOLUMES WHEN IT TESTS THE TREND CHANNEL.
LOOK FOR BUYING OPPORTUNITIES WITH YESTERDAY HIGH AS SUPPORT.
UPTRUST HAS BEEN FORMED IN BIOCON WHICH INDICATES THAT BREAKOUT TRADERS HAVE BEEN CAUGHT IN A BAD TRADE AND THE SELLING BY PROFESSIONALS HAS KICKED IN , SO BE CAUTIOUS.
BIOCON AT BEST MIGHT MOVE SIDEWAYS OR FALL ON SUPPLY BUT UPSIDE IS CAPPED DUE TO LOCKED IN TRADERS AND INVESTORS.
SO A SHORT WITH TODAY'S HIGH AS STOPLOSS CAN GIVE A GOOD RETURN IN SHORT TERM.
VIEW...
THE STOCK HAS TESTED ITS SUPPORT AND ABSORBED ALL THE SELLING VOLUMES AND IS NOW READY TO MAKE ALL TIME HIGHS.
RIDE THE TREND AS LONG AS IT DOES NOT BEND.
STOPLOSS RECENT LOW OF 910
TARGET - INFINITY.
MAHINDRA HAS CLOSED ABOVE THE WEEKLY RESISTANCE OF 500 AND WITH HIGH VOLUMES IT SHOWS THAT PROFESSIONAL MONEY IS INTRESTED INTO THIS STOCK. ALTHOUGH HIGH VOLUME TOO SHOWS SELLING IN THE BACKGROUND.
MONDAY CANDLE CLOSE ABOVE THE CLOSE OF FRIDAY CANDLE WILL CONFIRM OUR SETUP OF LONG AND WILL BET HEAVILY.
IF THE STOCK CLOSES BELOW THE CLOSE OF PREVIOUS WEEK ON MONDAY...
A BULLLISH MARUBUZO IS A VERY BEARISH CANDLE AND COUPLED WITH ALL TIMES HIGH RESISTANCE
THIS ADDS TO THE CONFLUENCE OF IDEAS TO TRADE RELIANCE SHORT
THIS TRADE GIVES A VERY GOOD RR AND ALWAYS TAKE A TRADE WITH GOOD RR IT IMPROVES OUR TRADING IN THE LONG RUN.
A BULLISH CANDLE ABOVE THE RESISTANCE WILL CANCEL OUR TRADE IDEA AND THEN WE NEED TO EXIT OR TAKE ALONG POSITION.
UBL HAS GIVEN A BREAKOUT WITH VOLUMES. THE FLOATING VOLUME HAS BEEN REMOVED FROM THE MARKET AND THE STOCK IS NOW READY TO MOVE ALONG THE LINE OF LEAST RESISTANCE.
AS A TRADER THIS IS THE BEST SETUP TO TAKE A TRADE ON AND RIDE THE TREND TILL IT BENDS.
STOPLOSS AND TARGET HAS BEEN GIVEN IN THE CHART.
BIOCON HAS GIVEN A BREAKOUT WITH VOLUMES WHICH SHOWS PROFESSIONAL MONEY IS INVOLVED
THE STOCK HAS HIT A LIFETIME HIGH
A LOW VOLUME TEST OF THE SUPPORT WOULD BE THE NEXT SIGNAL TO ADD TO EXISTING POSITIONS.
STOPLOSS - 320
TARGET - AS LONG AS TRENDING.
AARTIDRUGS HAS GIVEN A BREAKOUT AFTER FIVE YEARS OF CONSOLIDATION.
A HIGH VOLUME BREAKOUT INDICATES PROFESSIONAL BUYING AND WAIT FOR A RETEST ON LOW VOLUMES TO GET THE CONFIRMATION
THIS IS A LONG TERM BUY SIGNAL
MAINTAIN YOUR POSITION AS LONG AS HIGH VOLUME SUPPORTS THE PRICE
SBI IS AT MONTHLY SUPPORT AND WHILE BANKNIFTY HAS FALLEN 2.5% , SBI FELL JUST 0.7%
THIS SHOWS THAT THE BUY ORDERS ARE COMING IN AND A NARROW RANGE FOR SBI
A CONTRA TRADE CAN BE TAKEN FOR A TARGET OF 175
STOPLOSS BEING 140
THIS WILL GIVE A GOOD RISK REWARD FOR THE TRADE
BANKNIFTY IS ALSO AT OVERSOLD ZONE SO A SHORT COVERING CAN BE SEEN IN COMING DAYS.
With increasing volumes in Bajajfinance the stock has formed a lower high in the previous week.
The precious swing high would be the stoploss for positional traders.
Target would be around 1500.. Better to trail your profits than to have specific profit in your system.
Nifty also testing resistance it makes sense to go heavy as this builds confluence in the trade.
SUPPORT IN THE RANGE HAS BEEN HELD UP FOR THE LAST 2 WEEKS . A BREAKOUT CAN BE SEEN IN THE COMING DAYS. VOLATILITY CONTRACTION PATTERN CAN BE SEEN AT THESE LEVELS. LONG AT THESE LEVELS WITH COMFORTABLE STOPLOSS WILL GIVE GOOD PROFITS IN THE COMING WEEKS. BY ANALYSING THE VOLUMES WE CAN SEE THAT THE AVERAGE VOLUME OVER THE LAST FEW WEEEKS HAS BEEN ABOVE AVERAGE. A...
HOURLY CHART OF BIOCON SHOWS HIGH SPREADS WITH HIGH VOLUME AND IS HEADING TOWARDS THE SUPPORT
A BREAK OF THE SUPPORT ON THE HOURLY CHART WILL LEAD TO GAP FILLING
TARGET - 290
STOPLOSS - 370
