#KTKBANK is getting ready for breakout.
Looks like IHS pattern to me. So Kept in radar.
Accumulated a little --> will add main chunk after breakout confirmation only
Still need to check relative strength & momentum as it is PSU bank. Bcuz they don't usually move.
#JOCIL fundamentally I'm not sure. But looks good on chart.
Will gain momentum once it breaks Inverted Head &Shoulder pattern and monthly parallel channel. (My eyes see H&S pattern, u may see box.)
So Just invest token amount like 5-15% of money allotted for this trade, observe price action - add more once breaks.
If SL hits, u will lose small %of 5% amount...
#ICEMAKE is out of consolidation
Good to buy
Buy now --> add at retest zone --> add some at SL zone if it comes( only if Divergence is there in price & momentum & only after reversal confirmation from SL).
Just follow SL and Target.
I'm not sure of fundamentals. Technically good. So frequent check is necessary.
#RELIANCE long idea
It broke All time high - buyers will come
Relative strength is 52week high
Momentum is higher in daily & weekly
It takes its time too move, as it is big% of NIFTY
should take profit whenever relative strength weakens & momentum comes down in daily
-->Near confluence of support
-->CCI 34 D is about to revers
-->CCI 34 W is at long term support (-100)
---> Might see reversal from here
-->Head & Shoulder pattern breakdown may happen which makes stock to reach lower support
It is chart showing how RSI & Overbought & Oversold Zones help visually in finding low risk setups
Example chart Used - Karnataka bank
Indicator Used - RSI Color Zones by Feroz
Note: Not suggesting any Investing/Trade Idea. Its just for Educational Purpose.