GGL SHORT TRADEGGL is in Distribution phase of Wyckoff Cycles
It showed Shortening of Thrust and Lower High
Short Sell GGL if it falls below 12.5
TP1 11.6
TP2 10.9
TP3 10.2
SL 12.7
PIBTL SHORT TRADEShort sell PIBTL if it falls below its uptrend channel
It has already given upward Shortening of Thrust and a lower high
Short PIBTL 9.0
TP1 7.25
TP2 5.7
TP3 5.2
SL 9.55
Monthly Closing is important.Crossing & Sustaining 70 - 72 would
be a Very Healthy Sign for further Upside
towards 78 - 80.
Monthly closing is Important!Monthly closing above 91-92 would
be OK.
Otherwise as mentioned earlier, next support
would be around 81 - 83 but then 88 - 90 would
become the Resistance.
Good Retracement Needed
Important Support levels are 77 , 69 & 63
in extreme selling.
a good retracement towards these levels would
open a way to new highs.
Bullish Divergence has appeared.
Bullish Divergence has appeared.
Plus a Very Important Support level around 165-167
a bounce is expected from this level. However,
unless 193-196 is Crossed & Sustained ,we may not see
the trend reversal.
Watchout LevelCrossing & Sustaining 1405 will
lead it towards new high 1500+
Good support levels are 1300 - 1310
and then around 1250
HBL // BUYPump from Support
HBL one of the most successful banks in Pakistan, Good Fundamental + Support from Technicals
Good If it comes to 114 - 106Pleace first buying order at 114 than on 110 and last at 105 good stock to buy.
TGL near trendlineTGL is in uptrend price has taken support from trend line after a good correction, good oportinuity for buying at current levels
GLAXO is in buying ZONEGSK is trading near support area,good trading oportinuity for buying at current price with a define stop loss.
Breakout of Bullish Pennant done successfully.
Breakout of Bullish Pennant done successfully.
However, now retest is possible around 90 - 92
& then may be around 87-88
Upside targets can be around 102 - 103
& then 115+
Even in extreme case, it should not break 74.
POL PROBABLY IN WAVE 'A' OR '1'This is an update on our POL wave count shared earlier, we have modified the wave count looking at the formations and excluded the possibility of the current wave being a wave C.
If the wave count is correct then we are in 5 or Y of wave 1 or A.
With reference to my last idea of POL in which we got greedy and took a loss on 50% of our positions and are still holding 50% of the long positions for long term. Since are preferred wave count is still showing some downside which can reach 500-475 range and even further, It is not wise to just let our investment sit there and wait for the upward movement which can take months from now. Therefore we have decided to hedge our current position with a small portion of short sell in POL futures.
Will share the short sell trade setup tomorrow morning
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Play on levelsas mentioned yesterday's video, that
trendline is broken so we may see some
more selling pressure.
Near a Very Strong Support Zone around
572 - 605.
However, a bounce can be seen from 607 - 610.
In worst case & extreme selling pressure, we may
witness 495 - 515.
Bullish Divergence on bigger time frames.
Bullish Divergence on bigger time frames.
Currently in a Consolidation box.
Those who cant wait for long, should wait
for the breakout around 9.
Upside targets can be around 11 - 11.50
initially.
Strong Support seems to be around 6.
On the flip side, if this Support is broken,
the next levels would be around 3.
After Making HH, now towards HL.
After Making HH, now towards HL.
Bearish Divergence is there, so dragging
the price down.
115 - 118 can be a Good Support level.
Couple of Green candles may confirm HL
at this area.
However, if 110 is broken, we may
witness further Selling pressure.
Will Head & Shoulder Pattern play or not?Monthly Closing above 42 would be a
positive sign.
Weekly closing above 41.80 may lead
it towards 45.
H&S pattern is somewhat worrying. So,
unless 45-45.50 is crossed & Sustained, we
cannot expect further upside.
Near HL
Still near HL , a bounce is
expected from 444 - 445 level.
as mentioned earlier, possible
re-test zone is 420 - 429 in extreme
selling pressure.
Continuously Making HH HL on Bigger TF.Continuously Making HH HL on Bigger TF.
It has crossed an Important Resistance around
24.90 - 25 & now it has 2 Important Support Levels;
S1 around 24.30 - 25(this seems a Stronger one)
S2 around 22
Should not Break 18 as of now.
It still has the potential to touch 30 - 31.
NETSOL | Inverse H&SNETSOL is forming inverse head and shoulder pattern on daily time frame, strategy should be buy on dip in between 129 – 131 for the upside target of 136 – 137 level followed by 140 – 142 level. Use stop loss below 127 on closing basis
MARI PROBABLY IN WAVE '' C '' OF CORRECTION - SHORTThis is in continuation to our ongoing tracking of MARI.
Since prices moved down giving confidence to our bearish wave count, we are taking a small position by short selling. They are several possibilities at hand therefore we will trade this setup with cautious using trailing stop loss until we reach our target.
We only recommend small portions while short selling due to the fact that futures have less liquidity/volume.
If our wave count is correct then we can make around 10.85% or 13.04% on this trade.
Trade setup:
Entry price: 682
Stop loss: 721
Targets:
T1: 608
T2: 593-578
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
