IDEA trade ideas
Idea about IDEA !?!Ever since Vodafone IDEA made headlines breaking out of the 20% circuit limit to 25% - there has been Rumors & Speculations on different lines
a) Govt converting their debt into Equity
b) Govt Planning to sell stake to Elon Musk's Starlink
c) Amazon, Verizon in talks with Idea for potential takeover
d) Idea declining the above speculations....
We need to understand one thing - "NEWS" is usually Hyped, Sudden, aimed at creating a situation of FOMO (Buy) or Panic Selling . The Power of News 99% of times is very short-lived unless and until its an authentic news that the company has officially declared itself as Bankrupt.
So How do we Trade such Stocks:
Positive or Negative - whatever be the News - we always have to review the Charts to look at the Immediate Supports & Resistances. Yes - sometimes, a News is so powerful and Hyped that it might demolish one or more Support or Resistances, but that's all. After that, the Support and Resistances take the opposite side and starts to show their magic.
In the case of IDEA - On Monthly Chart - there was a Candle Body level Resistance at 16.1 and Wick level Resistance at 16.9. At the end of the day - the Price could not break 16.1 - though it just formed a small wick above - the price ended just lower
Dynamics for Tuesday:
a) 16.1 resistance is still Alive
b) Vodafone IDEA - denied all speculations - so 99.99% buyers will give up
c) At 16.1 the price has formed a Rounding Bottom Pattern but BO failed
d) So next likely pattern is Cup & Handle - How far can the Handle come down ???? 12.15 is the next major support and also 0.382 on FIB Retracement scale
Beware of SL Hunting:
a) Now if the above message is undeniable and everyone will go on Sell side - how will Operators & Big players make money ???? - SL Hunting
b) I expect the a Gap up / sudden big GREEN Candle to start on Tuesday - Luring retailers to Go Long - may be until 16.9 and there will be a Sudden Crash - gobbling all our SLs
Be Aware....Be Prepared...."Learn to Ride the Tide - Irrespective of its Side"....
- Team Stocks-n-Trends
IDEA looks bullishIDEA (Vodafone IDEA Ltd.) looks bullish on a weekly and monthly time frame as they are above 60. It has been corrected in the last few sessions. The only concern here is that volume increased during correction.
The RSI on a daily time frame is near 45. The RSI now (46.52) and the previous (43.65) swing low (10.65) are almost the same. This term is known as "Positive Reverse Divergence". The price is making a higher high, and RSI is making a lower low.
The RSI is taking support at 45 levels, and at the same time, price action shows the same (taking support at 12.50). If the price drops below 11.50, it may become weak.
If the price takes support at 12.60 - 12.50, which is the neckline of the cup pattern, it would be a good opportunity to enter the trade. If we clone the cup depth on the upside from the neckline, that would be our target (19.55). One can achieve a 1:3.5 risk-to-reward ratio. It may go up to 20.55 levels, the next resistance level.
#IDEA LONG INTRADAY SETUPGreetings Folks,
today i have prepared a setup of IDEA on NSE
the analysis is as follows-
- the price has not made any good retracement so far
- the structure looks like it can move upwards by some margin
- use the BSL as resistance and trendline as dynamic support
dont play with fire, always use a predefined stoploss
stockThis is for swing trade levels .....
take position based on this level with smaller TF reversal on your view ......
Octafx copy trade :BidaskeyTraders
Note:
This isn't financial advice, (not a buy or sell signal). This is for based on my knowledge and my risk management . Before following any ideas, do your own research and practice good risk management.
#IDEA LONG TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup of IDEA on NSE
the analysis is as follows
- the price broke out of a minor bearish trend
- it has made higher high and higher low
- i am waiting for a deeper retracement because of the last trading day negative outcome
- if the zone also gets broken then i will change my bias
dont play with fire, always use a predefined stoploss
#IDEA/VI LONG TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup of IDEA on NSE
the analysis is as follows
- the price is making bearish structures
- the price has made a temporary higher low, its not validated until the price breaks past the previous lower high
- the volume is minimal, the RR can be good but so is the risk associated with it
dont play with fire, always use a predefined stoploss
#IDEA TRADE IDEA SETUP MIDTERMGreetings Folks,
today i have prepared a setup of IDEA on NSE
the analysis as follows-
- the price is in a uptrend
- currently retracing in the structure denoted
- we will not change our bias until a good bearish structure is formed
- have marked 2 entries
dont play with fire, always use a predefined stoploss