praveen.bhatiya

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About me My 10 years of trading experience with many ups and downs have taught me deeper lessons about trading. There is no short cut to be rich. I use technical analysis for finding a trade that offers reasonable risk to reward ratio. I hope to be helpful
Joined India BhatiyaPraveen
Be happy ...
Markets Allocation
93 % stocks 7 % indices
Top Mentioned Symbols
NIFTY 4% | 10 BANKNIFTY 2% | 7 TATASTEEL 2% | 6 PFC 1% | 4
praveen.bhatiya praveen.bhatiya BANKNIFTY, 1D, Long ,
BANKNIFTY: Where would free fall arrested: PRZ
26 1 1
BANKNIFTY, 1D Long
Where would free fall arrested: PRZ

Banknifty has fallen almost vertically 10.4% in last 16 bars, so natural question is where would this free fall got arrested. We can try to find the answer in the light of Action/Reaction method. There is a beautiful center-line(Multi-Pivot Line) with 5 touches so it could be considered reliable. AR set based upon it is suggesting that we are now close to the zone ...

praveen.bhatiya praveen.bhatiya TCS, 60, Long ,
TCS: Buy Descending Triangle breakout
124 0 6
TCS, 60 Long
Buy Descending Triangle breakout

Prices were compressed between two converging trend lines thus nicely formed Descending Triangle and gave breakout. Alternate touches on both sides with less white space makes it perfect so one can trade this pattern. RSI is also above 50 confirming the trade decision. Entry 3000 Sl 2960 Target 3080 Risk/Reward 2 Disclaimer : All stock recommendations and ...

praveen.bhatiya praveen.bhatiya NIFTY, 240, Long ,
NIFTY: Big W (Double Bottom) Pattern
422 1 8
NIFTY, 240 Long
Big W (Double Bottom) Pattern

Nifty seems to making Big W pattern which is valid only if price closes above the confirmation line however swing trader can trade it now and ride the price upward till the confirmation line. IF price drops below the low of today one should close the position immediately. Mostly price stalls at the confirmation line for some time but if it trades above it one can ...

praveen.bhatiya praveen.bhatiya INDIGO, 1D,
INDIGO: Broadening Top (Megaphone) Pattern
62 0 5
INDIGO, 1D
Broadening Top (Megaphone) Pattern

The stock has nicely formed Broadening Top (Megaphone) Pattern which could be traded. There are 2 ways to trade 1. Selling at the top when it starts moving down at top after touching the trend line and vice versa. 2. Break out in any direction also gives an opportunity to trade. It works as a trend reversal and gives downward breakout after forming the 5 ...

praveen.bhatiya praveen.bhatiya BPCL, 1D, Long ,
BPCL: Bullish Engulfing, Divergence at Rectangle pattern Support
131 6 5
BPCL, 1D Long
Bullish Engulfing, Divergence at Rectangle pattern Support

Price has been moving in Rectangle pattern with multiple touches on both sides. It's a tall pattern with the width of 80 points so one can trade it like : buy at the bottom and sell at the top one, then reverse the trade. Previously it has given only one single touch on both sides but this time it has consolidated long. It is making divergence and today's ...

praveen.bhatiya praveen.bhatiya BALKRISIND, 1D, Long ,
BALKRISIND: Action/Reaction Buy
82 0 4
BALKRISIND, 1D Long
Action/Reaction Buy

The stock has broken beautiful center line which could be used for making a Action/Reaction set as explained by Andrews. Today's spike could be due to high volatility in the opening session. Demand is seen at that level. RSI reading above 50 is also confirming the decision so one can go long with following Entry/SL/Target. Entry 1145 Sl 1105 Target 1225 - ...

praveen.bhatiya praveen.bhatiya RELIANCE, 60, Long ,
RELIANCE: Pitchfork Trade
127 6 4
RELIANCE, 60 Long
Pitchfork Trade

The price movement are captured nicely by the pitchfork. After breaking the ML it has retested it and now bouncing from the ML so price may try to touch the upper Median Line in due course. One can initiate the long trade here with the target as UML. Entry : 924 Sl : 919 Target : 940 Risk/Reward : 2.5 Disclaimer : All stock recommendations and comments are my ...

praveen.bhatiya praveen.bhatiya AUROPHARMA, 1D, Long ,
AUROPHARMA: Buy with small Stop Loss
117 0 7
AUROPHARMA, 1D Long
Buy with small Stop Loss

The stock has made a bullish Morning Star at a significant area where price may get a reaction(https://in.tradingview.com/chart/FORTIS/QAFRU0d8-Reliable-Method-to-find-Price-reverable-Area/). RSI is also showing bullish divergence so one can initiate long trade risking small money. Entry 605 Sl 580 Target 655 - 650 Risk/Reward 2 Disclaimer : All stock ...

praveen.bhatiya praveen.bhatiya CANFINHOME, 1D, Long ,
CANFINHOME: Broadening Bottom Reversal
120 2 4
CANFINHOME, 1D Long
Broadening Bottom Reversal

The stock has formed Broadening Bottom Reversal pattern and today broke the intermediate term trend line thus confirming that downtrend in this stock is over, so one can consider going long/investing. I think low of the today's bar may protect so I would go long now or on dips providing the SL of 465 and expect the price in the range of 560. Disclaimer : All ...

praveen.bhatiya praveen.bhatiya FORTIS, D,
FORTIS: Reliable Method to find Price reverable Area
173 23 5
FORTIS, D
Reliable Method to find Price reverable Area

Doctor Andrew has mentioned a reliable method which is used to find the area where price get a reaction from the prevailing trend. Although the stock is falling vertically and have already given 33% in just 6 bar and the market is also in turmoil but still we can test its reliability on it. Please learn as it can improve the trading significantly. step by step ...

praveen.bhatiya praveen.bhatiya BALRAMCHIN, D, Long ,
BALRAMCHIN: Long :Coming out of RSI Oversold zone rewarded well always
167 0 3
BALRAMCHIN, D Long
Long :Coming out of RSI Oversold zone rewarded well always

I've observed that every time stock comes out of RSI oversold zone it makes nice up move. On the chart it has always rewarded well. I've excluded 2 incidents because it was done with spike bar. Let's use this information and expect that history repeats again and reward us reasonably.

praveen.bhatiya praveen.bhatiya EICHERMOT, D, Long ,
EICHERMOT: BUY : Bullish Three Drive Reversal Pattern
105 0 3
EICHERMOT, D Long
BUY : Bullish Three Drive Reversal Pattern

Stock has formed the pattern nicely one can observe the exactly same bar distance for 2nd and 3rd leg. This symmetry is very important for this harmonic pattern. One can buy the stock now expecting the pattern to work. Entry 27500 Sl 26500 Target 29170/31000 Disclaimer : All stock recommendations and comments are my personnel view please take financial ...

praveen.bhatiya praveen.bhatiya BPCL, D, Long ,
BPCL: HIGH PROBABLE TRADE with small SL
114 0 3
BPCL, D Long
HIGH PROBABLE TRADE with small SL

The Pitchfork is catching the frequency of price movement nicely with multiple touches on handler & on Lower Median Line. One can buy the stock now. Target Median Line that is 61.8% of the swng Entry 480 SL 465 Target 513 Risk to Reward 2.20 Disclaimer : All stock recommendations and comments are my personnel view please take financial consultancy for trading ...

praveen.bhatiya praveen.bhatiya HINDPETRO, D,
HINDPETRO: Three Line Strike at AB = CD PRZ Trend continue or reversal?
78 0 2
HINDPETRO, D
Three Line Strike at AB = CD PRZ Trend continue or reversal?

The stock was in downtrend has given breakout from descending Triangle pattern. Price made a strong Bullish Three Line Strike which is a reliable pattern that too is at the Price Reversal Zone of AB = CD harmonic pattern . The reversal got resisted at the previous support line and affected by volatile budget session. Let's put it into watch list and observe the ...

praveen.bhatiya praveen.bhatiya SUNPHARMA, W, Long ,
SUNPHARMA: Inverted Head and Shoulder Reversal
229 2 7
SUNPHARMA, W Long
Inverted Head and Shoulder Reversal

The stock was in downtrend and making lower low since last 2 years. It is showing sign of reversal now and formed classical inverted Head and Shoulder pattern. It has broken the neckline significantly and also short term trend line. One can conclude that that it wants to go up now. Recent budget reaction provides an opportunity to accumulate the stock for ...

praveen.bhatiya praveen.bhatiya OIL, D,
OIL: Classical Rectangle Pattern !
64 2 2
OIL, D
Classical Rectangle Pattern !

The stock is moving in the Rectangle nicely so one can buy at the bottom and reverse the trade in case it does not sustain and breaks out of the channel.

praveen.bhatiya praveen.bhatiya CENTURYTEX, D, Short ,
CENTURYTEX: Possible Short Trade
110 0 7
CENTURYTEX, D Short
Possible Short Trade

The stock has broken a long term trend line. It could retest it from below and continue the bearish downward journey. One can easily expect the target of range doubling zone.

praveen.bhatiya praveen.bhatiya AUROPHARMA, D,
AUROPHARMA: Option Strategy before budget & quarterly result.
158 0 5
AUROPHARMA, D
Option Strategy before budget & quarterly result.

Auro Pharma has announced 07.02.18 for results and the budget is on 01.02.18 so one can avoid the risk of volatility. The price has already moved down by 10% in last month. In this situation one can try the following strategy : 2/1 ratio call spread and put spread: a. Buy 660 call 2 lots 14 to 17 range (Current-Price 15.20) b. Sell 640 call 1 lot 21 to ...

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