I took a small risk on this trade after it crossed the trendline on friday, i placed a strict stop loss. This trade was risky for me due to large position size, i am making profits but i am looking for a bigger target after monday's trade session. If you don't want to take risk either wait for a retracement or profit booking session. Place strict stop oss and...
Doji in daily chart says reversal from a small downtrend, it looks like it could complete a H and S pattern. Lets see if this H and S is a reversal or a continuation because the overall sentiment is bullish for this stock. The stock is very bullish it it crosses 200 day MA or 390 levels.
On 3rd of august, there could be one more attempt to bring it back in the trend, if it opens with a gap and the gap is closed then stock is bearish for that day. If it does not opens with a gap then stock will be bullish for the day.
Taking support at 50 day EMA, levels are given, trade with the trend.
For intraday traders, levels are given, it will reach 700 in coming days but remember there will be a small retracement or profit taking session in between but the overall sentiment is bullish. BUY ABOVE 640 WITH A TARGET OF 680 FOR WEEKLY POSITIONAL TRADES.
Chart is self explanatory, follow the price action.
Gap will be closed in some time. For now there is strength in the stock, till now there is no profit booking seen from a long time. The next big target is 1125 if we don't see the profit booking in upcoming days. Remember we will see the attempt to close this gap in some time. Volume divergence is also sen which is not good for long term. The only problem for 1125...
In an one hour chart, ichimoku, rsi, stochastic says sell. ADX is very weak. The price is near lower level of bollinger band which says buy. 21660 was a strong support which was broken. If this was just a whipsaw going for 2 or 3 days, 23000 level will come soon.
See what the bollinger bands says.
The price near lower level of bollinger bands says that the stock can make a retracement move. Trade with the given support and resistance levels. It is in a downtrend from 2 years ago, the trend lines for which it takes support and resistance are drawn.
On daily charts hanging man after a doji in uptrend is a top reversal pattern. The price is near upper bollinger band in daily charts. Take long position with caution, Short with the given support and resistance level.
See the price increasing but volume decreasing, which is a bearish indication. For now the stock will move up but the trend can reverse in upcoming months.
Do not take weekly or monthly position in idfc first bank. The decreasing volume with increasing price shows an indication of bearish fall coming. RSI also shows a small divergence from price. Trade cautiously. Trade the breakout if it falls.
The decreasing volume in rectangle pattern is a bearish signal, trade the breakout at icici bank.
Looks like a Head and shoulder pattern can complete.
In accumulation zone, the security passes from weak and uninformed participants to strong, informed participants of the market. Clearly it could go higher in coming days if it breaks the 2 year old resistance line.
Trade with the trend, place your targets and stop loss according to support and resistance drawn.