Why to enter at current price ?
Support of 200 EMA and 0.786 Fib and trendline
Q2 results were good
Why not to take the trade ?
Sell volume is high and doesnt seem to lower even if Q2 results are good
Enter - CMP
Target - 1700
Stop loss - 50 points below trend line
The Scrip is in an ascending channel pattern bouncing from the lower trend line and 200 EMA.
Why to buy ?
1. Support at trend line/parallel channel
2. 200 EMA Support
3. 0.786 Fib retracement coincides with 200 EMA & Trend line,
Buy @ 1130-1170
Stop Loss - If it falls below 200 EMA and stays below it.
Traget - 1500/1550/1600
Why to enter at this Price ?
1. Support of 200 EMA ( which till now acted as resistance will now act as support)
2. Support of Green horizontal line ( long term support)
3. Support of black ascending line ( Short time support)
4. RSI around 60 %
5. Fib retracement - 0.786
6. Huge green volume candles and small red candles represents accumulation
7. Price making...
Why to buy ?
1. The stock is at 0.618 fib
2. Took multiple support at the green line
3. Positive divergence in RSI ( RSI making higher lows)
4. Support of 200 EMA. ( Earlier too the stock took support of 200 EMA and showed a healthy jump)
5. Decrease in volumes( Sale volume)
6. Large green candles
7. Triangle pattern
Buy between 11800 to 1200
Target - 16000 ( at...
The trade is risky. Invest small amount only. The green line represents support. The price is moving in a upward parallel channel for the last few months . Now the price has bounced back on daily chart both from the green line as well as the lower parallel line. The blue line will be the target.
Target - Rs.10.50
From the chart it can be seen that a rounded bottom pattern is in formation. There is an increase in volume and the green candles are bigger ones as compared to red candles. The price has given breakout and took a retest too and is to move further upward. Buy at all dips and target would be - 220.
As can be seen from the RSI (green line) the stock rebounces once it approaches 54-55 RSI. Also one can see the sale volume has reduced drastically and the price is approaching a support zone.
A divergence is seen between RSI and price , with RSI showing a downturn and price going higher. Expect some correction. But the long term view is bullish as is evident by long period of consolidation and increase in volume.Also RSI jas been around 80.
Do let me know what u think ?
Is that an evening star in formation ?
Firstly there has been two gaupup movement represented by circles. As we know gaps almost are always filled.And the gaps here will get filled only if the price comes down.
Secondly there has been a huge dump of shares as is visible in Volume.
Thirdly the RSI has reached 87.5 and needs to come down.
What do you think. Will...
The price is moving in parallel channel as can be seen. So suppose once it reaches the lower line/ support, how to verify whether we can go long or we need to short. RSI Divergence comes handy here. We already have one confirmation that since price is moving in a channel and the lower line does seem to be support so it may bounce back.The next confirmation comes...