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% | 8 BANKNIFTY 3% | 6 TATASTEEL 3% | 6 BEL 2% | 4
praveen.bhatiya praveen.bhatiya GRANULES, D, Long ,
GRANULES: Long : Ascending Scallop Breakout
101 3 2
GRANULES, D Long
Long : Ascending Scallop Breakout

The stock has formed a beautiful Ascending Scallops pattern and closed above the pattern High yesterday thus triggered the buy signal. The patterns is very reliable so one can take advantage of it. One can expect the target of above 145. Theoretically one should provide the stop loss below 124 on closing basis however I would trade it with Stop loss of 127. One ...

praveen.bhatiya praveen.bhatiya ACC, 15, Short ,
ACC: SHORT: Multiple Resistance Zone
50 0 2
ACC, 15 Short
SHORT: Multiple Resistance Zone

Action Reaction is beautifully aligned with the down sloping Trend line. RSI is in overbought showing divergence. Set up seems to be ready for a short and let's hope for a good trade.

praveen.bhatiya praveen.bhatiya NIFTY, 60, Short ,
NIFTY: Nifty Hourly Analysis seems weak!
144 1 4
NIFTY, 60 Short
Nifty Hourly Analysis seems weak!

Nifty hourly chart clearly made double top and broke the neckline. It seems that downtrend is not yet over and we may see even lower level in coming days. I would observe 9966 - 9990 price Zone and short there on weakness anticipating the 5th wave to work for a good risk to reward trade.

praveen.bhatiya praveen.bhatiya ICICIBANK, 15, Short ,
ICICIBANK: Andrew's PF Short Setup for Intra Day
56 0 0
ICICIBANK, 15 Short
Andrew's PF Short Setup for Intra Day

Pitchfork is capturing the price movement beautifully with multiple touches. It is testing/retesting at UML now giving an opportunity to short the stock. One can observe the price at this level & on seeing the weakness short it with small stop loss.

praveen.bhatiya praveen.bhatiya ITC, 15, Short ,
ITC: Action/Reaction and Pitckfork Trade Setup
72 0 2
ITC, 15 Short
Action/Reaction and Pitckfork Trade Setup

The stock price movement have formed a beautiful MPL which suggest price may reach till the Reaction line. It has also broken the median line and retesting it now from below. One can short the stock now for target around 306.

praveen.bhatiya praveen.bhatiya BANKNIFTY, 15, Long ,
BANKNIFTY: Bullish Wolfe Wave
175 5 7
BANKNIFTY, 15 Long
Bullish Wolfe Wave

Banknifty is forming bullish Wolfe wave so one can put it into their watch list and execute the trade timely. The pattern target is above 23600. The pattern is quite reliable and mostly provides good risk to reward ratio. Good Luck

praveen.bhatiya praveen.bhatiya BEL, 15, Long ,
BEL: BEL inverse Head&shoulder breakout
138 0 6
BEL, 15 Long
BEL inverse Head&shoulder breakout

Trading mates can take advantage of classical Head&shoulder breakout on the chart. It is retesting the Neckline from above now. Good Luck

praveen.bhatiya praveen.bhatiya COLPAL, D,
COLPAL: Colgate beautiful Diamond pattern
112 0 6
COLPAL, D
Colgate beautiful Diamond pattern

The stock has nicely formed Diamond pattern so one can put the stock in their watch list and trade accordingly. Good Luck

praveen.bhatiya praveen.bhatiya BPCL, D, Short ,
BPCL: Pitchfork and 3 Drive on Top SHORT
170 12 7
BPCL, D Short
Pitchfork and 3 Drive on Top SHORT

The stock has formed 3 Drive on Top pattern and we can see the similarity at distribution Zone at top 2 and 3. It is also touching the upper Median line thus giving a good entry for shorting the stock. Those who could afford the stop loss of 745 can short it now and expect a target of 650.

praveen.bhatiya praveen.bhatiya MCDOWELL_N, D, Long ,
MCDOWELL_N: MCDOWELL_N Pitchfork Buy for decent reward
138 8 6
MCDOWELL_N, D Long
MCDOWELL_N Pitchfork Buy for decent reward

Dr Andrew's Pitchfork trading method suggest to go long at the current level. PitchFork is capturing the price movement well so entry at Lower Median Line can generate a good profit as we can expect the price to reach the Median Line around 2290. Today's bar is significant as it tried to retest the Lower MLine and bounced back from there, confirming the strength.

praveen.bhatiya praveen.bhatiya GRANULES, D,
GRANULES: Double Top with RSI Divergence
86 0 5
GRANULES, D
Double Top with RSI Divergence

RSI Divergence in double top area is showing the potential weakness. The pseudo upthrust bar yesterday with big volume is another confirmation for the potential short today with Stop Loss just the high of the previous day bar.

praveen.bhatiya praveen.bhatiya DABUR, D, Long ,
DABUR: Dabur Trendline/PF support Buy
62 0 7
DABUR, D Long
Dabur Trendline/PF support Buy

The stock seems to be in demand zone and getting support from trend line. The Pitchfork is catching the price behaviour beautifully so we can expect a rally till median line. Stop loss of Low of yesterday is quite small affordable so one can buy the stock now for a target of 290.

praveen.bhatiya praveen.bhatiya COLPAL, D, Short ,
COLPAL: Head & Shoulder Reversal Breakout
72 0 6
COLPAL, D Short
Head & Shoulder Reversal Breakout

The stock has formed a nice Head & Shoulder pattern after uptrend. We can expect the price to reverse now and take advantage of the pattern by shorting the stock. The pattern can drag the prices to 920 - 940.

praveen.bhatiya praveen.bhatiya BIOCON, D, Short ,
BIOCON: Biocon SHORT Pennant pattern.
98 0 5
BIOCON, D Short
Biocon SHORT Pennant pattern.

The stock has formed perfect pennant pattern and gave breakout with gap and good volume. It is trading below the trend line clearly telling more weakness in coming days. One can short the stock for a target of below 925.

praveen.bhatiya praveen.bhatiya ACC, D, Long ,
ACC: ACC LONG Flag Breakout
62 0 6
ACC, D Long
ACC LONG Flag Breakout

The stock has formed a nice pole and after 5 days of consolidation it has given a breakout today. One can trade the Flag pattern breakout for a target of 1850.

praveen.bhatiya praveen.bhatiya HINDALCO, D, Short ,
HINDALCO: Hindalco Short Engulfing at significant Fib level
205 2 3
HINDALCO, D Short
Hindalco Short Engulfing at significant Fib level

The prices are moving in a parallel channel since 01.02.17. Second last bar seems to be an pseudo Upthrust bar with good volume as last bar was a bearish engulfing and that too at significant 61.8 Fib level. One can short the stock taking the high of this bar as stop loss(closing basis) and look for the lower boundary of channel as first target which is quite ...

praveen.bhatiya praveen.bhatiya YESBANK, D, Short ,
YESBANK: Doubletop Reversal Short
172 0 6
YESBANK, D Short
Doubletop Reversal Short

The stock has formed a clear classical double top reversal pattern and traded below the neckline yesterday. It would offer a good short trade in coming days. It is one of the most simple pattern so need not much details. Have a good profit.

praveen.bhatiya praveen.bhatiya MINDTREE, D, Long ,
MINDTREE: Mindtree classical Channel breakout !
137 4 5
MINDTREE, D Long
Mindtree classical Channel breakout !

My experience tells that simple classical patterns work mostly and reward good, therefore, I am suggesting today a very Simple Channel breakout long trade setup. It does not require any explanation however, if there is any query please post it in comments.

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