Logic behind the Trade
1. Closing above 50 EMA
2. Consolidation breakout with big bullish engulfing candle along with heavy volume
3. Stopped making lows as trend line shows the consolidation movement was moving upward (big players were building orders)
4. RSI is 60 (shows strength in stock)
i am waiting to trade on a good breakout, on the 1st week of November.
Naukri, is a good stock.
PLEASE do have a good look at the colours.
1. the two dark black lines are the actual target what i am aiming for.
2. the dark purple line is the resistance which is tested multiple times.
3. minor blue lines are the levels, where one should look at buying for...
Rejecting from W 0.618 and closing below the upward trendline makes this is perfect candidate to short. Dropping below 4100 will open doors for 3750 - 3330 if continue to see the downfall in the IT sector.
Disc - Personal views trade according to your analysis and risk appetites
if tomorrow market behave negative
or naukari stocks goes below the provided level
then it high chances to go in demand zone
and there we buy at fresh levels
The stock has broken down and retested, therefore may undergo a mild correction in the short term. Trade is supported by Resitances Nearby.
Risk Reward Ratio - 1.5:1
SL is placed above the resistance zone & the upper trendline. The target is placed near support.
NSE:NAUKRI
INFO EDGE (Naukri) - has been into a tight consolidation zone for the past few weeks, with quarterly results being announced today
It was consolidating in an ascending triangle pattern zone (bullish pattern) and made a breakout, Now a re-test at 3990-91 zones could be a good buying opportunity for a swing trade with targets of around 4500+ (Trailing...
One of the high risk stocks to go for a positional trade as per its fundamentals.
A clear Head & Shoulder pattern formed and recent price action shows strong bearish divergence with RSI for a bearish continuation.
Price has retested the neckline and is heading towards a downside target of around 2350.
It lies in confluence with golden FIB and long term...
Double zig-zag breakout has taken. Hopefully doesn't go for triple zig-zag?
That's why stick to strict stoplosses !
Anyhow there is a very less chance for forming a triple zig-zag.
Invest wisely.
-Definitely not SEBI - Registered. So, this is only for educational purpose.
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