Banknifty has given good rejection and formed inside candles. Would wait for Outside breakout and Sell for Targets mentioned on the charts.
Rejection coincides with Harmonic Move. Hidden Bearish Divergence seen from the structure break Point till Recent Swing High of Rejection.
Lets see how it moves. Cheers!!!!
BLS Sharply bounced back from its support zone. Daily is forming Reversal Buy Pattern.
Daily Close above 154.6 any day from today will be a Long Breakout.
Entry 1 tick above Long Breakout High. Target 39.5 Rs from Entry . Stop will be provided Once Trade is active.
Reasons for Buy
1) 1st Bull Fractal Break resulting into impulsive upmove
2) bear fractal not broken and support taken
3) price move up after 1st FFB , SB also moving UP
4) Arriving at the Support formed during impulsive move with lots of indecision and higher lower wicks, which shows lower price rejection
5) forming bullish engulfing previous 2 candles
BHEL HAS BROKEN BULL FRACTAL AND WAS UNABLE TO SUSTAIN THE UPMOVE
STOCK HAS SEEN TO CREATE STRONG DOWNSIDE BASE AROUND RS 80
TILL NOW STOCK HAS NOT BROKEN ANY BEAR FRACTAL AFTER INITIAL BREAK OF BULL FRACTAL.
BIT RISKY TO ASSUME BUY MOMENTUM STILL EXISTS SINCE IT HAS NOT BROKEN ANY OF BEAR OR BULL FRACTAL AFTER ITS 1ST BULL FRACTAL BREAK.
BEL HAS BORKEN KEY LEVELS OF SUPPORT ON MONTHLY,WEEKLY
NEXT SUPPORT ZONE IS 106-91 APPROX
IF BREAKS THIS ZONE THEN IT WILL BE IN LONG TERM BEAR ZONE.
INVESTORS LOOKING TO INVEST ON THIS STOCK SHOULD REFRAIN ENTERING THIS STOCK AT THIS MOMENT. LOOK FOR ENOUGH BUY MOMENTUM ONCE IT REACHES SUPPORT ZONE TO MAKE FRESH INVESTMENT.
Copper Recently Broke Break fractal and continued with good Fall. However last few sessions i see it is ranging very well.
Previous Bear Fractal Break has been tested twice and held as a resistance. Lower edge of Range also held well. Once we see Clear Break below this Outer Range, it will be Clear Short Bias. If Break is not that Clear then wait for Break. Wait...
COPPER IS ABOUT TO BREAK RECENT BEAR FRACTAL THAT WAS FORMED DURING UPTREND.
SMALL DIVERGENCE FORMED BETWEEN 2 PEAKS. 2ND PEAK IS HIGHER THEN 1ST PEAK.
ONCE THIS BEAR FRACTAL IS BROKEN (CANDLE IS CLOSED, STILL HAS 3 MORE HOURS TO CLOSE)
THIS ALL THING HAPPENED AT 1.618 FE
FOR LEYMAN TO UNDERSTAND
1) FIB 1.618 FE IS GOLDEN RATIO
2) THIS INSTRUMENT WAS...
IZMO HAS GIVEN THE LONG BREAKOUT AFTER TAKING THE SUPPORT.
STOCK HAS COMPLETE THE RETRACEMENT FOLLOWING IMPULSIVE MOVE.
STOCK IS IN PROCESS OF COMPLETING N WAVE.
ONLY CONCERN IS FE 61.8 IS INLINE WITH DT
LONG ENTRY : 110.55
STOP LOSS : CB 85
TARGET : 135, 150
SAFE TRADERS MOVE SL C2C ONCE IT REACHES DT AREA. BECAUSE MOST OF THE TIME INSTRUMENT TEND...
VIOLATED LAST BULL FRACTAL ON THIS WEEKLY CHART.
TAKE LONG ABOVE 1842 AND ACCUMULATE IN PANIC UPTO 1740
STOP WOULD BE CBKS
1ST HURDLE IS AROUND 1958, BOOK HERE 15-25% OF PROFITS HERE AND HOLD UNTIL STOP IS HIT