Nifty Has formed a Head and shoulder pattern with a breakdown level being 16880.
Nifty broke 16800 yesterday with huge volumes. but today it opened with a GAPUP but couldn't sustain and witnessed a huge sell-off.
This was more of a retest and now it is well-positioned to slip further.
Also, the move(According to Elliot Wave Theory) is the 3rd wave in which the...
ENTRY @ cmp - 848
Stoploss - 804 daily close
Risk - 44
Reward - 120-150
BASIS of trade
Bouncing from Trendline Support
Rsi took support at 40 4th time
Relative Strength above 0
Disclaimer: Educational view
Evaluate the risk first before jumping on any trade
BANK OF BARODA
PSU BANKING INDEX breakout
buy @ cmp 84
SL 76 weekly closing basis
SAFE BUYERS can Enter abv 89 daily closing with the same sl
Disclaimer - Educational view
Retracement to 50% from the latest swing high and RSI bouncing from 50 zone concludes a healthy trend so far
A buy could be generated above 650 with a StopLoss below 600 DCB and a TARGET of 730/760 looks achievable in the neat short term.
DISCLAIMER: Educational View
Sector: Cement and Infra
In the Technical chart, we can see a consolidation (Flag pattern formation)
Monthly and Weekly RSI(14) is above 60 and Daily Rsi is at 40 support. Also, we have a DOJI candle in the daily chart
Short-term trade can be taken above today's high(4425) with a Stoploss below 4300 DCB. Targets can kept at...