praveen.bhatiya

praveen.bhatiya Updated 

Nifty hourly chart has formed Bearish Gartley Pattern so we can observe its behaviour and short on weakness. Interestingly the pivot is at the third touch of down sloping trend line so aggressive traders can take chance by shorting at this level. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya Updated 

We can observe that the lower low made is not supported by the indicators thus forming the divergence and showing the strength. It is formed Morning Star Candlestick reversal pattern which is reasonably reliable so one can buy the stock at current level by providing the appropriate SL. We can expect the target of 1815 which offers a good Risk to Reward trade....

praveen.bhatiya Updated 

Chart has formed the Inverse Head & Shoulder Reversal pattern and gave breakout. It is already trading out of Regression Channel so downtrend in hourly charts seems to be over for time being. After breaking out it is retracing so one could use this pull back for a good entry. We can look for a target of above 260. Disclaimer : All ideas are my personnel view....

praveen.bhatiya Updated 

In the last few days NIFTY was trading in the range of 10710 to 10840. It has shown good support at 10710 which was broken decisively. It is retesting the same from below. Mostly when a good support is broken it works a good resistance, therefore one possibility to trade the weakness in price zone of 10750 - 10780. However if the break was just due to high...

praveen.bhatiya Updated 

The stock has developed Bullish Wolfe Wave which could be traded. Although target price of the pattern is 91 but one can easily expect 84 and review the trade at that level. RSI divergence in oversold area and its value confirming the buy decision. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya Updated 

Stock has formed big W reversal pattern and showing bullish divergence therefore it looks good for buying at this level. It has broken the short term trend line and RSI (14) is also healthy above 50. One can buy the stock now for a target of 4000 in due course by providing suitable SL. Disclaimer : All ideas are my personnel view. Please take financial consultancy...

praveen.bhatiya Updated 

Pitchfork is catching the price movement nicely. It has broken the LML* but immediately came back into it thus showing the demand at current level. One one can take small risk of low of today as SL and buy the stock. We can expect the target of 46.80 which offers a very good risk to reward, so it looks OK to go for contra trend trade. I am not expecting a trend...

praveen.bhatiya

The stock has formed Rectangle and price closed below the lower line on 21.06.18. It has again retested the lower boundary and closed lower depicting the weakness. One can short the stock for a target of 203.50(Range doubling) by keeping the high of today as SL. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya Updated 

The price action has nicely formed Rectangle Pattern it looks that demand is emerging at this level so one can buy the stock with SL of recent low. In case of close below the lower boundaries one should immediately close the trade even aggressive traders can initiate short trade but that does not seems to have good chances of target as there is support nearby....

praveen.bhatiya Updated 

Wolfe Wave has been formed nicely so one can buy the stock at current level. Since the market is moving in small range I would keep the target moderate between 520 - 525. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya Updated 

We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive...

praveen.bhatiya Updated 

I've observed that Nifty gave breakout of Head & Shoulder pattern suggesting the trend reversal, however another up sloping parallel channel is in force which can support and try to arrest the down more here. Interestingly it is at the same level of last swing low therefore confluence of these may work and give strength. We can see good tussle tomorrow and let's...

praveen.bhatiya Updated 

The stock has formed Inverse Head & Shoulder Pattern but its neckline is steep up sloping so seems little tricky to trade it. I would buy it at current level by providing a SL of recent low and look for a target of Median Line touch as Pitchfork seems to be OK. RSI is also above 50 confirming the decision. Disclaimer : All ideas and comments are my personnel...

praveen.bhatiya Updated 

The stock has formed Broadening Formations, Right-Angled and Ascending pattern and one can buy on the touch at horizontal line. There was Bullish Engulfing on 13.06 and it trades above the next day showing strength. Stop Loss is of one bar is affordable. Entry 18100 SL 17750 Target 19500 RR Ratio 4 Disclaimer : All ideas and comments are my personnel view....

praveen.bhatiya Updated 

The stock is forming divergence suggesting the forthcoming weakness and current Engulfing bar has triggered the short trade. First target is around lower line however it may also be a reversal of recent up swing so could drag the price further lower. We may review that later. Disclaimer : All ideas and comments are my personnel view. Please take financial...

praveen.bhatiya Updated 

The stock has formed the Rectangle, gave breakout but instead of moving in the breakout direction or retesting the neckline it is trading below it. Trade mates can take advantage of this failed pattern setup. It may touch the lower side and even further low in due course. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy...

praveen.bhatiya Updated 

Price movements are being captured nicely by a down-sloping Pitchfork. Bearish Hanging Man candlestick pattern is confirmed by red candle today so one can short the stock by providing small SL of 305. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya

Clear Inverse Head & Shoulder pattern may reverse the trend. Today's bar is a strength bar formed 3LR pattern. RSI is healthy above 50. All these suggesting a buy at this level for a target of 1100. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.