praveen.bhatiya

praveen.bhatiya Updated 

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 Updated 

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

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 Updated 

Price has broken out of the channel but got rejected immediately at the resistance and closed below the channel. It looks like a good trade able Wash and Rinse setup. One can short the stock if the recently made is affordable and can expect the target around lower boundary of the channel. It offers reasonable reward to risk being taken.

praveen.bhatiya

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 Updated 

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...

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The stock has formed a beautiful Ascending Scallops pattern and closed above the pattern High on 03.05.17 with higher Volumes. The pattern has already given the buy signal and the recent dips could be used to buy cheap. The patterns is very reliable so one can take advantage of it. The target would be around 860 while one should provide the stop loss below 720 on...

praveen.bhatiya Updated 

The Index has formed Harmonic 3 Drive Pattern at the top of the rally and clearly Showing RSI Divergence showing weakness in the coming days. One can short it with appropriate stop loss. As mentioned in my earlier post that Divergence made at the top are little tricky compared to the one formed at the bottom. Good Luck

praveen.bhatiya Updated 

Current price level is clearly a good demand zone where buyers emerge. We can go long here with small Stop Loss just below the low made recently on closing basis and expect a good profit in short term. RSI 40 for this stock worked as extreme oversold zone and again bouncing from this level thus confirming the idea of going long.

praveen.bhatiya

The stock is showing continuous divergence and looks ready to retrace from current level. One can short the stock with small Stop Loss and keep the initial target double the risk involved.

praveen.bhatiya

Bank nifty future June expiry trading at a lesser price as compare to may expiry. We can get benefited from this? Bank nifty future 29th June 2017 expiry@22270 and 25th May 2017 expiry@23340 is having an arbitrage value of 70 point or 2800 in money term. Reason 1: This indicates the short term the market demand is more as compare to the long term. Reason 2: ...

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Clearly formed inverse Head & Shoulder pattern is suggesting a long entry. Being a defensive Trader, I would wait for a retest on Neckline which means possibility of missing the trade also as it does not happen always therefore other trader can buy at appropriate level depending upon their risk appetite.

praveen.bhatiya Updated 

The price movement are being captured beautifully by Bollinger Band and one can observe that whenever it has traded out of the band, it has given a nice opportunity to trade the reversal. We can apply the same method and short the stock by providing appropriate stop loss and look for the target of middle/lower band.

praveen.bhatiya

Pitchfork is capturing the price movement nicely, which offers a low risk long entry now at lower Median Line. Stop Loss 290.30 one can take reward twice the amount risking.

praveen.bhatiya

Intraday Short trade is possible at this level by providing a Stop loss of high of today. The Index has formed the double top pattern indicating that uptrend is reversing at least for for short term. Now it is retesting the down sloping trend line One can take chance by shorting the index by providing small Stop Loss.

praveen.bhatiya Updated 

My mates can use the recent trading opportunity generated as nicely formed Flag pattern has given breakout with volume. It can easily scale above 400 in coming days. I like this kind of setup being reliable, fast and offers good risk to reward ratio..

praveen.bhatiya Updated 

Potential short may develop in the stock as it is making higher high but RSI is not supporting it and showing divergence. Its reading is also coming out of Overbought Zone. So far it is making Wolfe Wave. As if now trade has not developed yet but one can put it into the watch list to take the appropriate action timely.

praveen.bhatiya Updated 

The stock has formed a beautiful Roof Pattern it gave false breakout today and came back. One can trade the stock by providing small Stop Loss high of today and look for a target of 140. Risk to reward ratio works out decent.