CHOLAFIN trade ideas
POSITIONAL IDEAPositional Idea of PULLBACK on WEEKLY time frame with a BULLISH ENGUFING CANDLE on WEEKLY and crossing 21 EMA too. ALSO MONTHLY RSI IS GREATER THAN 60
Cholamandalam Finance- Important LevelCholamandalam finance Retesting its Break Out Level & near to 200 EMA . Expecting to bounce from the current levels.
CHOLAFIN 4HRConfluence of Daily Bullish Butterfly & 4HR Bullish Crab strong levels
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
CHOLAFIN Daily Bullish Butterfly
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
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
