Entry - Around 600, near the trend line 1st Target - 695.25 ( A bit lower than the previous swing high) 2nd Target - 795.05 ( Top of the channel and also a previous strong resistance) Rationale - TRENT has been moving in a parallel bull channel with bull candle volume outweighing the bear candle volume. The 61.8% retracement level was also breached...
TCS might fall till support before breaking down / bouncing upward...
Breakout of triangle patterns give short or long signals...
Britannia sustaining above 3250 can move towards 3600 and 4000 levels
Long if breakout is succesfull...Short on rejection of resistance....
INDIA MART - Important levels for positional trading/investing
Jubilant industries long TGT 117 / SL 98
THE NEW INDIA ASSURANCE CO Long TGT 155 SL 120
Positional buy - Reliance with target of 1550 and more SL 1370
Possible movements from the current point for the next week or two
Stock had seen a good breakout in Friday's session from its 10 day trading range. Any dip in the stock is likely to be absorbed in 2030-2015 zone. I am Bullish as long as it sustains above 1990 levels. Further resistance stock can face is around 2100 levels.
Stock Has been resisting 175-180 zone , since late Feb 2020. Now stock is again trading near those levels, hence any decisive breakout can take stock 220 -240 levels. The said view will be negated below 145 levels.
19 MAY 2020 INSTRUMENT: DR REDDY TIME FRAME: DAY Chart type used for confirmation: Renko INDICATORS AND THEIR TRENDS: PSAR: Bearish STOCHASTICS: Bearish MOVING AVERAGE: Bearish ...
Eicher Motors following the Pitch Fork Tool. Short positions can be taken cautiously.