praveen.bhatiya

praveen.bhatiya Updated 

Diamond pattern is relative rare pattern. It has not given the breakout out yet but one can put it into watch list and trade accordingly. Another possibility that exists right now is that it may go to touch other side of the pattern around(1520) so a 60-70 points points move is possible and thereafter another trade on breakout.

praveen.bhatiya Updated 

The stock has formed a beautiful pole and gave breakout today after 8 days of consolidation with good volume. It fulfills all the criteria for a valid FLAG (Pennant) pattern One can enter long for a target of 1010.

praveen.bhatiya

Axis Bank may see a down move from this level as the aforesaid pattern seems to be taking shape.

praveen.bhatiya

Beautiful Wolfe wave trade with good Risk to Reward ratio may give a good start for the NEW YEAR 2017 for my trading mates. Wishing you all to be prosperous.

praveen.bhatiya Updated 

There is an Ascending Triangle breakout after that a retest from above confirming that buyers are there at this level so it may continue it's move up. One can buy at this level with Stop Loss of 628. Good Luck

praveen.bhatiya Updated 

There is a possibility to trade Broadening top pattern. RSI is forming divergence also confirming weakness in the stock. Shorting now with Stop Loss just above the high made recently.

praveen.bhatiya Updated 

The pattern is self explanatory one can short now with small stop loss and take the ride till the lower level or whenever feels it is good profit. Risk to reward could be good.

praveen.bhatiya

BankNifty is moving in the down sloping channel. RSI is coming out of Oversold area so it may try to touch the other side of it or at least the touch on trend line is possible. One can enter long at this level.

praveen.bhatiya

Trade able Wolfe wave with RSI divergence can generate a reasonable trade at this juncture. One can take advantage of it with small Stop Loss and good risk to reward ratio. Good Luck

praveen.bhatiya

Pattern is formed clearly so one can take advantage of it. Pattern target is around 232.

praveen.bhatiya Updated 

Clearly formed pattern with alternate touches both sides. The stock is showing strength although market is in bear grip. One can expect the price in the range of 1110 - 1145.

praveen.bhatiya Updated 

Vertical price move from 05.12.16 to 08.12.16 has formed a pole and pattern gave breakout after 2 days of consolidation which is normal for flag pattern as it is a small pattern. It seems a good Flag formation as the volume on last day of pole and on the breakout day was relative higher. One can enter long now for a target of 1060. Stop Loss closing below 944.

praveen.bhatiya

The Stock is at the interesting level so better to put it into watch list for a possible trade. Let's see what it wants to do.

praveen.bhatiya Updated 

The stock has formed double bottom, gave breakout now retesting from above. One can enter long now with reasonable Stop loss. Pattern Target is 353.80 however there is resistance at 341.40 so let's see which one it achieves. Even for the lower target risk to reward ratio is good.

praveen.bhatiya Updated 

Trade able Pennant pattern gave breakout with higher volume yesterday. It offers a good opportunity for short term gain. The pattern is relative short pattern so the target can be reached in next week. Risk to reward ratio is quite reasonable.

praveen.bhatiya Updated 

Bank Nifty has formed a Wolfe Wave therefore one can watch the price movement and enter long. Since the index is in downtrend and is at a very good support level breaking it could drag the price further low so it is advisable to trade it with caution and stop loss.

praveen.bhatiya Updated 

Probability of a short term reversal with the following reasons 1. regression channel breakout 2. divergence 3. 3 outside out candlestick reversal pattern One can buy at dips for a target of 470.

praveen.bhatiya Updated 

The stock broke the channel and immediately came in the channel gives a chance to trade short for a target of around 251. Stop loss 291 on closing basis.