The two-year bull run of Indian stock market since March 2016 is due for a breather. Sensex touched a new all-time high of 36443 on January 29, 2018, ushering new euphoria amongst people. Markets do not go straight up or down, they do so in steps. We are expecting a step-down 2018 for 90% of Indian equities. And we do not expect the new highs to be taken out for...
Approaching oversold conditions on the weekly graph.
TA also suggests signs of next wave formation.
Although, recent acquisitions could give a boost in the perceived value by the market.(Arago and Cast)
Hit the top resistance and retraced back ~22%.
wait for the channel breakout(green)
and trade in the flag pattern. watch out for the resistance marked in red....
Breached an important support line in the weekly chart.
Can move towards 2550 in the coming days/ weeks.
Strategy is to short this counter on every rise.
Stop should be initially at 2875 and should be gradually trailed.
Target 1700 plus
Stock has broken out of the cup pattern which is more visible in daily chart.
Stock has broken above convincingly the long term upward sloping trend channel. Upper boundary should ideally act as a support going forward.
Expected target is 1700 plus which is 50% of the width of the channel.
Target 1280 plus
1) Stock has bounced back convincingly after a long period of cup based consolidation.
2) Stock has also bounced back from 30 day ema support.
3) Relative Strength bounces back from support.
Aggressive traders can buy at CMP.
Conservative traders can buy at possible retracements around 1170 to 1115...
Pfizer, probably the only pharma company in India that is going to make a new high. The pharma sector in India is in a bear territory for the last couple of years. Having found a stock in this sector that is yet to make a top is like finding light in the dark. It's good news for those who have significant exposure in this sector. It's not going to do much for them...
APART FROM THE TRADE SETUP, I HAVE ALSO EXPLAINED THE MOST IMPORTANT ASPECT WHICH IS POSITION SIZING AND RISK MANAGEMENT.
THIS FORMS 80% OF A TRADING STRATEGY AND THE BALANCE 20% IS THE TRADING SETUP. FOLLOWING THIS WILL INCREASE THE PROBABILITY OF SUCCESS IN TRADING BUSINESS.
Higher time frame (weekly).
1) Stock has...
Stock has convincingly broken down an important support zone at 249, which could potentially act as a resistance zone going forward.
Stock could possibly retest the new resistance zone, which ideally is a shorting opportunity.
Hence, shorting suggested at levels 245-249 with a stop of 270 for a target of 180.
Target 2700 plus
Stock has formed a Cup and Handle pattern.
Stock is on the verge of breakout of the handle.
Ideal level to go long on the stock would be after getting confirmation of breakout of the cup lip which is at 2350.