Cholamandalam Finance looks Bearish and ready to explode, Double Top formation and RSI looks weak. Sell Immediately with a StopLoss of 334 at Spot Price. Also there is Bearish Divergence on RSI
buy cholafinance above 315.60 tgt: 322 sl : 310
disclaimer... not an investing /trading recommendation the action seems to be in phase b of reaccumulation, the thread will be updated as the trading range progresses reaccumulations in this scrip tend to follow a rising wedge pattern
SELL CHOLAMANDALAM 285/287 SL 295 TARGET 275/267 DATE - 3-8-2019 CHART BY VIJAY GOSWAMI
sideways are the best place for trading refer chart for direction of the stock since it has formed a double top like structure i expect it to go down it is actually a retracement of 61.8% lets see what it does buy pe ...next month contract since it is hard to find the time(calc)
A close above 1224/- & 1264/- TARGET 1340, 1420.
A ckise avive 1224/- & 1264/- TARGET 1340, 1420.
Bearish descending triangle formed.. The futures and options volume (not on trading view but based on NSE end of day reports) point to increase in future OI and Volume therefore indicating a strong interest in short. Options suggest that around 1550 is a good resistance. If the price retraces - one can take a short position first at 1520-25 then at 1550..
Top is confirmed Moves sideways as CC-34(W) crosses below 100 Must cross 1730 with strength to resume
CMP 1452 Target 1800 plus Stop 1200 1) Stock has witnessed an upward channel breakout with huge volumes. 2) Relative strength upward sloping indicating stock experiencing specific buying vis-a-vis market. 3) Stock has the potential to reach 1800 plus which is the long term resistance zone.
CHOLAMANDALAM INVESTMENT, Beautiful Regulat Flat pattern forming in Wave 4 on Weekly timeframe, lets see how it unfolds towards 800 level and from there to get long.The downside move is confirmed by the corrective formation.
DAILY FINANCIAL WISDOM: "It's better to trade alone, than trade with a crowd going in the wrong direction.