UNITDSPR trade ideas
MCDOWELL - KEEP AN EYE NEAR 570-550 zoneMc dowell has rallied about 25% in past 8 trading session and it also closed above it previous resistance around 570 levels.
Currently Its taking resistance T Fib extension levels around 616.
The structure of the stock is now of higher highs and higher low, hence any pullback can be an opportunity to enter long in the stock.
I will be eyeing 570 -550 zone for entering in the stock for the target of 700-720 levels.
The said view will be negated below 520 levels.
United Spirits , 1 Day Chart Analysis .* Price Making Higher High .
* After Touching FIB 0.618 Level Price Consolidating B/w 510-550 Price Range .
* Previous Candle Dozi (Shows Indecisiveness B/w Buyer And Seller )
* Trend Line Break Out . Which Shows Buyers Shows Some Strength .
Elliott Wave Analysis .
* Looks Impulse Wave 4 Is Completed And Wave 5 Is About to Begin .
Trade Setup .
** ( For Aggressive Traders ) Our Reference Candle Is Previous Day Dozi If Price Break Its High(546) With Vol . Then Buy With The SL OF 527
** ( For Conventional Traders ) When Price Break Previous High 549.5 , Enter Then With Sl of 514 .
Mostly Probabilities Are Market Open Gap Down On Monday
* If Market Open Gap down and Price Break 515 Zone ( Trend line ) Then We Don,t Have to Take Any Position .
Only For Leaning .
Happy Leaning .
MC DOWELL.....HANGOVER IS OVER!!!!!DISCLAIMER :
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Good Lucks.
