CHOLAFIN Daily Bullish Butterfly
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
CHOLAFIN trade ideas
CHOLAFIN ::: BULLISH :::DATE: 03 JUNE 2021
INSTRUMENT: CHOLAFIN
TREND: BUY
TIME FRAME: DAY
CMP: 557.30
BUY ABOVE: 559
STOP LOSS: 534
TGT: 605
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CHOLAFIN BUY on BreakoutBuy on the breakout, Triangle formation, on the uptrend consolidation on the breakpoint
cholafin symm triangle patternforming a symm triangle pattern (1 HR TFM)
breakout can be to either side
wait for break and could go for swing entry
CHOLAFIN a good bullish counterClean structural price action has taken place in cholafin.
Once breakout done we can expect a good rally
CHOLAFIN Long trade for Swing.The price has been moving in an Upward Channel and is around the Lower Trend line of the channel and there is also a Demand Supply zone around it. So there is a Confluence of both. A Confluence of 2 or more lines indicates a zone to watch out for some price action either side.
But watching the buyers buying on dips and being active on the lower trendline and RSI is also around 51
showing strength in the stock to move higher. Hence my view says to buy around CMP with a target of almost 8-10%.
Cholafin is on good support LevelCholafin looking bullish & on good support Level, can touch 600 in coming days
How to Find which Stocks to Buy?PVR Ltd looking in buy zone please select the right stock to invest you hard money.
CHOLAFIN All the key levels are mentioned in chart
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Short if it opens GAP down on mondayStock has reacted from the resistance level of 562.55 and if it breaks the up trend line with a GAP open on monday, we expect a good down trend for intraday on Monday.
CholafinCan go short if Breaks below 525 for target of 514 with Stoploss of 530
& can go Long if breaks out above 530 for target of 541 with Stoploss of 525
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Chola finance looking very good for short termit has fallen from 557 after making all time high due to profit booking now it has fall down and taking support at trend line which is very good to enter for a target of 551-557-565-575 also can be seen in some weeks.
accumulate it at given black line which are-517-508-500 and add till 490 with a SL-474 .
