The Weekly charts of Amaraja Batteries is bullish with price reaching to the value zone after a strong test of 260 levels. While its histogram has broken the back of the bull and is getting deep below zero, Price has reached the value zone which has punctured the Slow EMA & gave a close just above the EMA.
On the daily charts the stocks histogram is showing new bearish strength and the stock is out of trend. Price has given an uptick which is close to the channel lows. This provides a good Risk-to-Reward for a long trade.
As there are few negativity built into the chart patterns, trades can be done using lesser risk capital to not keep off from a good trade and still be safe from throwing the whole capital at risk.
Trade long at 226 with a stop of 217.30 for a target of 251.60.
Weekly chart of RELIANCE is showing its price reaching the value zone on a bearish trend, with its next attempt, the daily charts will complete a clear bearish divergence on the histogram. A down tick after a days close above 852 is a clear signal for shorts and it will be a classic trade. Keep a close watch on this stock to short it at appropriate levels.
On the daily charts the stocks histogram is showing new bearish strength and the stock is out of trend. Price has given an uptick which is close to the channel lows. This provides a good Risk-to-Reward for a long trade.
As there are few negativity built into the chart patterns, trades can be done using lesser risk capital to not keep off from a good trade and still be safe from throwing the whole capital at risk.
Trade long at 226 with a stop of 217.30 for a target of 251.60.
Weekly chart of RELIANCE is showing its price reaching the value zone on a bearish trend, with its next attempt, the daily charts will complete a clear bearish divergence on the histogram. A down tick after a days close above 852 is a clear signal for shorts and it will be a classic trade. Keep a close watch on this stock to short it at appropriate levels.
Amaraja Batteries long trade was filled with market opening strong, but has closed a tad lower than our entry price. Hold on to stop loss.
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