Trade idea logic: 1. High volume followed by big green candle. 2. Consolidating and slowly moving up. Looks goods for medium to long term gain.
Moving from stage 1 to stage 2 structure on weekly timeframe with good volume. SL = 515 Target = 1:3 RR trail SL after
NAUKRI just broke out of range with good volume on hourly timeframe. Looking good for long positional setup. SL = 5500 T1 = 6000 trail SL thereafter
Positional long setup in IRCTC SL= 780 T1 = 1100 T2 = 1200
Breakout and retest on weekly timeframe and a bullish engulfing candle with good volume. SL = below recent low Target = minimum 1:3 RR trail SL after
Breakout and retest of Cup Handle pattern on weekly timeframe. SL = 190 Target = minimum 1:3 RR after that trail SL as per chart structure
If give breakout above the trendline, can give a good upmove. SL 1360 Target 1: 1710 Above 1710, just ride the trend.
1. Breakout- Retest- Upmove 2. Took support at 50 EMA on Weekly timeframe. One can look for positional opportunity with SL below 50 EMA.
1. Stock made a breakout above stage 1 and growing to stage 2. 2. After breakout there was a healthy retest. 3. Took entry at 1340 with SL = 1415 4. Target 1: 1400 RR 1:2
Metal sector is forming a Head & Shoulder pattern on weekly timeframe. Last week there was a "Shooting Star" candle formation with the followup this week. If the overall market downtrend continues then there are good chances of followup on downside. NOTE: Kindly consult your financial advisor for any buy/sell decision.
MRF coming days probable movement : 1. Can complete H&S pattern and bounce back. 2. Retest breakout level and bounce back. 3. May breakdown if sustains below 80000(less probable though)
Reliance Industries (RELIANCE) looking bullish, can again test 1800 marks by next week. Note: This is my analysis for educational purpose, take trade at your own risk.