All details highlighted on chart.
LONG only after breakout from the FLAG pattern.
Stoploss should be placed below lower trend line of the flag.
Pattern is fairly self evident and text book definition of long build-up.
Given this is a weekly pattern, good for positional cash trade and not for leveraged F&O.
Low risk, High reward long trade.
Long at any pullback. I am looking for a slight correction for an entry point.
Optimal price range: 131-134
Stop Loss: 123
Holding Period: 3 months.
NOTE: This is simple technical analysis. Not backed by any fundamental thesis. Trade at your own risk!
MFSL is in prolonged up-trend. Stock has breached it's all time highs and will continue to rally up before taking a halt.
A general behavior of stocks trading at ATH is the continuation of trend rather than correcting.
Hence my bias is on the upside.
Chart speaks for itself. Buy above 688 for the targets of 700, 707,715 with SL at 683.
688 has acted as...
VOLTAS is making a rising wedge pattern.
The obvious move will be a break down of the wedge as suggested by the Divergence on RSI.
Since price is moving up but momentum is slowing, a correction is expected.
This is a short term market move and post a 3-5% correction, stock will continue it's uptrend or go into consolidation.
Short below 820.
Lot of Long ideas. I see the markets are getting Euphoric.
Here is another parabolic move in another stock, this time a chemicals company.
Stock went straight up and is now consolidating, Another move is going to be either extreme Up or total collapse.
Looks like a flag type pattern. Hence taking a LONG bet.
I am biased towards upside. As I mentioned, markets...
PNB has crossed very crucial levels in historical price action move.
The stock has been in uptrend as past few weeks and has completed a text book definition of Double Bottom.
It has successfully breached the neck-line and retested it with a daily gains of over 5%.
Stock last traded on such valuations in 2003 and this is a golden chance to build long term...
All the trend lines drawn on the chart are trend lines with multiple reactions.
Stock has recently taken support off a trendline and is approaching the next one.
Upon breakout of that trendline, we can see another leg up for Reliance.
I will keep two stop loss points in this trade. I am carrying this in cash(not in F&O).
This is simple price action and trend...
ITC has made a bullish flag like pattern. The Pattern is not exactly the text book definition.
Still the way it is holding up and making higher highs and higher lows at lower TF suggests buying pressure and consolidation.
It may give explosive up move in this month. keep on radar.
I am expecting move up till the recent highs of 210.
Post which it will go into...
Nifty halted through the first two resistance lines on the recovery path but slashed through the last two as if they never existed.
This is parabolic up move on weekly chart and this is initiated by the flows from FIIs.
Eventually a profit booking week is going to come and that will be mostly the third or fourth week of Dec.
Another round of up move will be...
LUPIN is consolidating in a narrow range and a big move is coming.
Short on the breaking down of the wedge for targets of 3-5%.
Stop Loss should be placed anywhere above the lower trend line of the wedge.
There are chances of breakdown and re-test hence keep patience for smooth down move.
Any weakness in Index will be cherry on the cake.
Charting is quite...
On break of the rising wedge, the stock can give smooth down move.
There are confluence of factors favoring the downside.
1. Upper trend-line of the channel
2. Bearish Engulfing on Day chart
3. At the lower support of wedge trend line.
I am looking at downside of 3%-5% from here on. 1300 is strong support.
SL: 1435 on Dec Futures contract.
SL can be moved just...
NIfty 50 index has gone back up the important trend line that ranges back to it's inception in 1991.
GFC 2008 was only other incident when NIFTY went down this trend line for substantial period.
However when it went back up on the trend-line, it stayed there up until the crash of Health Crisis.
Now, Nifty has recovered from the crash and went back up on the...
A very obvious ELLIOT WAVE pattern can be observed on the stock !
Text book definition of a 5 wave impulse move. Stock looks to be in a 5th wave.
However, I believe that this wave's gonna be shorter one as this is driven by euphoria.
With all the sentiment about the company, short sellers are very far away and this gives support to the bulls case.
Stock is in downtrend for since 2015. A supplier to automobiles and with the downfall of auto sector, revenues are struggling.
A very favorable risk to reward trade with high probability of success.
As I have understood that no one can predict exact market movements hence risk management is the key.
I work on probabilities and they are favoring this...
ITC is holding up quite firm. Stock was in uptrend all the way till August.
However rally has been seeing exhaustion and stock is consolidating in a narrow range between 50 and 200 EMA.
Consolidation usually leads to big moves. Directions though are not specified.
50 EMA is strong support whereas 200 EMA is strong resistance.
Stock is respecting the trend...
A big breakout in HAL from the symmetrical triangle and there is plenty of upside left in here.
The stock is running aimlessly since the announcement of Indian Authorities sourcing defense equipments locally for foreseeable future.
And HAL probably is the best listed entity for this sector. Stock just broke out for a symmetrical triangle and will continue it's...