EMAMILTD trade ideas
Intraday trade setup for Email ltdMajor points of analysis and decisions -
1. Trend pattern upside
2. Stock is at the below of trend channel
3. Doji formation at the bottom after many red candles showing an indecision among sellers or weakness in sellers
5. Strong long tail doji
6. RSI 50
Target 423-432
EMAMI - Weekly chartThis analysis is purely based on price action
The analysis is on Weekly TF hence target can be achieved in couple of weeks to months
Trade strategy is explained in image itself. Entry above high of the candle.
Always plan your trade & trade your plan
Keep trailing SL accordingly once in trade
SL should be on Weekly/Daily Closing basis as per trader's own capacity.
Trade at your own risk and money management
Feel free to comment for any queries & suggestion
EMAMI LTD (EMAMILTD) - Double Top Firmly In Place - 12/23/2016A general tide has lifted all the boats and now when it's ebbing, to borrow Mr. Warren Buffet's phrase - we will soon find out who is swimming naked. Many stocks have gone from ridiculous to insane levels and they are bound to come crashing down.
Emami Limited's first test will be at 900. That support may not hold during the thick of the things and we are more inclined to grab a little near 800 support level rather. Also please keep in mind that, even 800 level is most probably going to be the short term trade unless something changes. Below that, the stock has open area until 500. That's too far but we need to have our game plan ready because stocks take years to rise and they fall within days to undone all the work.
Another such stock is DABUR, which we begin to short near 320 and that has been materialized as perfect top ! There is no magic in it, it's power of simple objective technical analysis ;)
