Intradaystocktips
SAND - Trade setupDownward breakout through the descending triangle pattern, Looking at the market conditions there will be retest towards the breakout point which is my entry range. It needed to be observed that the retest must take place with low volume therefore indicating weak retracement so that we can enter short side. I'll update once my trade entry got triggered in the update section.
Disclaimer : Anything provided here is not a financial advice.
Today's pick :-DALMIASUGDALMIASUG buy above 547. It must be sustained above 545. As there is a daily breakout in DALMIASUG, You will get enough time to enter. Don't be in a hurry. Take position after proper break out as 545 is resistance.
Target 550,555,560,570
SL 535
If it gaps up then wait for retest then take entry.
Wishing you a profitable day.
NTPC - Intraday Technical AnalysisHi Traders,
From the kind of support am getting from my recent publishes, am guessing u want more short term analysis. Or maybe you dont want this kind of technical analysis and its better to stop what am doing and concentrate more on my trading. So this might be the last post on Indian stocks.
We have a bullish bias on this stock because of the breakout we had last week.
It seems price would honor the trendline in hourly chart, and we have a key level at 102.70. So price can continue upwards after testing the trendline or the key level at 102.70. We suggest a buy entry only if you get price structure in the lower timeframe.
Since we have the weekly trendline passing through the golden zone, we expect the maximum drawdown can be till this level.
Hoping this was useful. For queries pls feel free to comment.
Happy Trading