Hey friends,
It was a very wonderful week last week and the markets have given handsome pullback of 600 points approx from the low point of the week, Remember the low point of the week was established in recent sessions was 10004.55. which we expected just a month ago on 23rd September.
We specifically quoted that nifty may touch 10000https://wp.me/p9xQFa-6a
5% gain just few hours
Last weeks Selling candidate Kotak Bank achieved its target just in first two hours of mondays trade.
How amazing it is. isn’t it.
This week also we are bringing a selling candidate despite the markets have rallied, if fact in such reaction rallies you could really find stocks which have given handsome pullback and they have reached their resistance zone.
If a stock has to cross resistance zone and give new trend breakout then the penetration at the resistance zone seems very high. Volatility seems lowering, may be some sort of consolidation / distribution takes place.
go on reading if you want to get this probable tickling idea which can give 7% gain in a week.
Stock : UPL | Recommendation : SELL | 711-722 | SL 739 | Target 660
UPL DAILY
Image 1_daiy chart
Observations on chart :
UPL Fallen from 902 high made in august 2017 to as low as 684 in December 2017
Stock made intermediate high of 828 in Jan 2018 & fallen from there to to 537 in july 2018
IF we connect 902 & 828 with a trendline we get a falling trend line and UPL respected resistance of this line every single time it went to kiss that level.
On Friday 2nd November 2018, the stock went to kiss this line and made a high of 716.5
This is the first point to think about whether the stock can correct.
On hourly chart see image 2_Hourly chart the stock
UPL hourly
Image 2_Hourly chart
The stock has shown stellar rally of 22% from its low of 585
The RSI has been trading in the overbought zone above 70 and showing signs of reversal
These all bullets if put together it gives us a sense that the stock may see reactive correction of 7% from this level and could touch 660 in few sessions.
I hope you like it.
Friends, Trading is business and the profits are determined by the bargain price at which one buys or sells stock or commodity. As a traders its our prime duty to identify the bargain rates (not exactly but approximately range of bargain price). We are not institutions so there should be clarity on not trying to picking up tops and bottoms.
Trading Mantra:
“Mr. Market has no idea of who you are and what are you doing, you can’t do anything for that but your discipline will keep you in touch with market for long time” _Chandrakant Deo
Billion dollar question to ask for yourself,
Do you really find bargain prices in market ?
If you don’t then what should you do to get those ?
Thank you for sharing.
Happy Reading…..
Happy Trading…..
Be a wealthy Trader….
It was a very wonderful week last week and the markets have given handsome pullback of 600 points approx from the low point of the week, Remember the low point of the week was established in recent sessions was 10004.55. which we expected just a month ago on 23rd September.
We specifically quoted that nifty may touch 10000https://wp.me/p9xQFa-6a
5% gain just few hours
Last weeks Selling candidate Kotak Bank achieved its target just in first two hours of mondays trade.
How amazing it is. isn’t it.
This week also we are bringing a selling candidate despite the markets have rallied, if fact in such reaction rallies you could really find stocks which have given handsome pullback and they have reached their resistance zone.
If a stock has to cross resistance zone and give new trend breakout then the penetration at the resistance zone seems very high. Volatility seems lowering, may be some sort of consolidation / distribution takes place.
go on reading if you want to get this probable tickling idea which can give 7% gain in a week.
Stock : UPL | Recommendation : SELL | 711-722 | SL 739 | Target 660
UPL DAILY
Image 1_daiy chart
Observations on chart :
UPL Fallen from 902 high made in august 2017 to as low as 684 in December 2017
Stock made intermediate high of 828 in Jan 2018 & fallen from there to to 537 in july 2018
IF we connect 902 & 828 with a trendline we get a falling trend line and UPL respected resistance of this line every single time it went to kiss that level.
On Friday 2nd November 2018, the stock went to kiss this line and made a high of 716.5
This is the first point to think about whether the stock can correct.
On hourly chart see image 2_Hourly chart the stock
UPL hourly
Image 2_Hourly chart
The stock has shown stellar rally of 22% from its low of 585
The RSI has been trading in the overbought zone above 70 and showing signs of reversal
These all bullets if put together it gives us a sense that the stock may see reactive correction of 7% from this level and could touch 660 in few sessions.
I hope you like it.
Friends, Trading is business and the profits are determined by the bargain price at which one buys or sells stock or commodity. As a traders its our prime duty to identify the bargain rates (not exactly but approximately range of bargain price). We are not institutions so there should be clarity on not trying to picking up tops and bottoms.
Trading Mantra:
“Mr. Market has no idea of who you are and what are you doing, you can’t do anything for that but your discipline will keep you in touch with market for long time” _Chandrakant Deo
Billion dollar question to ask for yourself,
Do you really find bargain prices in market ?
If you don’t then what should you do to get those ?
Thank you for sharing.
Happy Reading…..
Happy Trading…..
Be a wealthy Trader….