Top 3 Short Term Trading Ideas with ‘Bullish’ & ‘Bearish’ Chart Patterns No ratings yet.

Nifty Trading tips

(1) Maruti:

The stock was in a retracement phase in the last series and the supply in the counter is now overdone. It has formed a Double Bottom base at 6500 levels and looks poised for an up move.  Momentum Oscillator, Relative Strength Index is also in a positive mode and is displaying a rising trend which further indicates strength in the counter. Fresh longs may be initiated above the immediate resistance  of 7578/-. Short term trading levels for the stock are mentioned below.

Technical pattern: Double Bottom Pattern

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >7578 7480 7678 7750

(2) HDFC Bank:

The stock has given a Rectangle Pattern price breakout in the last trading session. This breakout gives an indication of the rising demand  in counter which is further supported by the rising volume indicator, OBV (On-Balance-Volume). The positive price volume convergence hints at a further rally above the break of 2054 levels. Fresh longs may be initiated in this counter above this mark.

Technical pattern: Rising OBV

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >2054 2020 2080 2120

(3) Sun Pharma:

The stock is looking very weak on charts. It has formed a distribution pattern resembling to Head and Shoulders pattern, neckline of which rests at 550 levels and the stock has already given a break down from that levels with substantiate volumes.  Fresh selling may be done in the counter below 506 levels for targets mentioned below.

Technical pattern: Head & Shoulders

Action
Trigger Price
Stop Loss
Target 1
Target 2
SELL <506 516 495 488

Also, Check out Nifty,Bank Nifty levels for 27th November

Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser  before taking any investment/trading decision. We hold no financial liability to any user on account of use of information provided on this website.

Please rate this

Author: Traders' Chowk

1 thought on “Top 3 Short Term Trading Ideas with ‘Bullish’ & ‘Bearish’ Chart Patterns

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.