NSE:NAUKRI is currently trading at 200 SMA level and also at one of the important support formed by a Fibonacci cluster. Additionally, it's near the Harmonic PRZ level of Bullish Gartley pattern. Volume Zone Oscillator is also consolidating near the lows. If it can hold above 5429 level,Odds are that it might reverse from this level towards target #1 (5840) and...
Hello Traders,
The last stock given here on tradingview did not close above the buying levels so here I am with a stock that is not a breakout trade but a support/resistance trade. The stock I am speaking about is Infoedge.
Now Infoedge gave a breakout of old resistance and went on a bull run for a 2 weeks or so but then failed to made a higher high and came down,...
Trend continues after consolidation
Key things to Watch:
Long Consolidation= Good breakout (Agle 45degree)
Small consolidation= Breakout-(Angle 70-80 degree)
Smallest consolidation- Breakout (Angle 90 degree)
A clear divergance is seen in rsi and the price is at resistance trendline, so it seems stock has topped and a short trade can be initiated at low risk. weekly atr is 402, so ideal stoploss should be 7084 in weekly close and target should be same 6284.
Currently at Demand zone, and getting support from Trend Line at 4 hour TF.
Good to go long in this at CMP.
Entry - CMP
Target 1 - 5500
SL - 4900
R:R - 1:2
Book Half quantity at 5500 and trail rest.
Look at the graph. It always stayed below 1st and 2nd resistance till last week. Now both resistance are broken out and stock is at all time high.. and it is always believed that stock rallies to another 20 to 30 % when it's at ATH.
Note: it's not a recommendation.. Still trying to learn.. feedbacks are welcome..
This scrip had recently given a breakout from a ascending triangle pattern and now this scrip had rejected from All Time High. So one may find long opportunity in thi scrip if it broke the All Time High and may hold it for some weeks based on the price action.
