Wipro has formed a double top pattern over the past 3 trading sessions, ending the day on higher than average volumes approaching its resistance. An overall correction due to a double top is also expected in the overall Indian IT index. Trade should only be executed if there is a clear rejection in the first candle for any up move, and the double top is thus...
A piercing pattern has formed on 22/3, and the next resistance (target) is at 928. Positive news has also come on the same day as the company is set to acquire stake in another pharma company. Positive MACD crossover is occurring in the 30 min chart, and the stock has bounced from its support level. For this range, advantage can be taken by keeping a stop loss...
On a daily chart, Cipla has formed a dark cloud cover pattern near its resistance. RSI shows a descent away from the overbought zone back into the middle, giving us a leading indication that the stock might correct. The trade should only be executed if; 1) The volumes are slightly higher than the average of the past 7-10 days because that is when the maximum...
The first hourly candle on 17th should either be a red candle or a shooting star clearly showing selling pressure at around 2411 levels, it should not breakout strongly above this otherwise the next long target becomes 2456. If selling pressure is indicated by the aforementioned indicators, then the stock can be shorted to 2 ATR hourly till 2377, and stop loss...
Sail has made a double top at the bottom of the fib extension level as shown in the chart. The next strong support level is just below 2 ATR (daily) at 86, which is our target. Stoploss should be the open of the daily candle formed on 15/3/22, which is almost like a bearish marubozu indicating strong selling pressure.
