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DSKF16
Jul 11, 2017 7:56 AM

Can we see Bearish BAT in Near Term ? Long

NSE:ONGC60
OIL & NATURAL GASNSE

Description

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Trading at Crucial Zone Between Fib R 0.786 @ 161.7 & FIB R 0.886 @ 162.55

Possible Bearish BAT formation.

Today's Volume is very HIGH compare to AVG. Volume.

Possible Breakout in End Hour of Trade.

GO LONG: LTP @ 161.40 (at 1.24 pm 11/07/2017)

TARGET: @ 162.55 @ 163.50, @ 164.55, @ 165.75, @ 166.9 (STRONG), @ 168.6+, @ 170.90+

SL: Below @ 160.3 (by Closing)

Comment

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Closed in line as mentioned SL.

Comment

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Blasted +3%, LTP: @ 165.55
made a HIGH @ 165.75
Achieved TARGET #4 @ 165.75
Trend AnalysisFibonacciBat
Comments
AMBRISH
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congrats Target 170.00 achieved , still it look attractive to buy at current price.
DSKF16
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@AMBRISH, as per TV Analyst (Bloom..... Result missed estimate, wait for time being. as Shouting in TV is more Power full than "TECHNICAL" in India. Bette wait for @ 160.80 to @ 158.50 level. After Market hour i will update Latest position. Please bear with me.
AMBRISH
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@DSKF16, Thanks for caution note, I agree with you Blue Channel Bla Bla ............ i will wait for update later on.
DSKF16
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@AMBRISH, Most welcome.
AMBRISH
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@DSKF16, 50Bps rate cut - Surprise rally, 25 bps rate cut - Profit booking, No cut - Shock

So Now R.R. is 2:1.
DSKF16
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@AMBRISH, My demerit is, "NOT Following TV NEWS in market hours.", as because confusion make mind diverted to do own study.
I think Chart Indicates all the things, considering ability of chart reading in various aspect. I am trying to do so.
AMBRISH
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@DSKF16, News are created/planted , I dont watch TV News , i prefer check trading views ideas, at least i am learning from various post.
DSKF16
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@AMBRISH, Thanks. One thing more, chart also created in some stock & sometime in indices. notice one thing i mentioned after 31st July 2017 Market close, Possibility of Nifty candle on 01st Aug 2017 is to be "Long legged DOJI /PIN". Watch whats happen yesterday (like mentioned Candle). today i expect Long body Bear Candle also mentioned in Post. as of NOW bearish candle but body was not so Big What i expect. I also Pictured in Chart (top Left corner) if happened..... there are two possibilities for tomorrow. either another bear candle with 30+ point body, or Long legged Doji / Bullish Pin.
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If today's closing in Between at 10063 to @ 1051, then Pattern will form "EVENING DOJI STAR", Major correction Pattern(5-8%). Let's See.....

AMBRISH
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@DSKF16, Thanks a lot.
drchandramohankk
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what should be current trading strategy on ongc?
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