Weekly Trade Setups – 7th May to 11th May 2018

PLS NOTE : All chart analysis posted below are the author’s own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone

 

TECH MAHINDRA LTD :

We located the flip support area for TECH MAHINDRA in our previous post . CLICK HERE.

We got bullish piercing signal at the expected flip support location of around 645 area.

Those taken a blind entry can remain in the trade for the target of around 725 or else stop loss trailing would be preferred.

Fresh long entry can be taken anywhere above 640 area.

Assuming 640 as a stop loss TECH MAHINDRA can be traded longside for the target of around 725 area.

 

YES BANK : 

We will observe the downward pullback till 330 area.

If we get clear price action buy signal at 330 area we will go ling in it.

Stay connected for further updates.

 

NIFTY : 

Recently NIFTY has broken the resistance towards upside as seen in the above price chart.

We will observe a downward pullback till 10485 area and a clear price action buy signal at 10485 area to go long in it.

Stay connected for further updates.

 

GOLD : 

We can see the clear side way ranging structure created in the above price chart of GOLD.

Price is arrived at equal low area also we got a inside bar signal at support on 2nd May 2018.

Long positions can be created anywhere above 1301 area.

Assuming the stop loss of 1301 GOLD can be traded long side and long positions can be created at around 1315 area.

We can expect twice target of the risk.

 

ZINC : 

Above is the weekly chart of ZINC.

Weekly key reversal area is clearly seen in the above chart at around 2975 area.

We have to see a clear price action buy signal at around 2975 area to go long in it.

stay connected in it for further updates.

 

ALUMINIUM :

Observe a downward pullback till 2225 area and watch price action buy signal to get long in ALUMINIUM.

 

NICKEL :

Inside bar is identified in the above chart of NICKEL.

The above inside bar found can be traded in either direction as shown in the above price chart.

We can trade either way breakout of 3rd May’s candle high or low.

If 14196 gets triggered we can prefer long entry with a stop loss of 13770.

Or else if 13770 triggers we can prefer short entry with a stop loss of 14196 .

 

EURINR :

If we get clear price action buy signal at around 1.1918 we can participate in long entry.

Another scenario , if price pulls upward till 1.2216 area and we get a clear price action sell signal we can prefer short entry.

Stay connected for next updates.

 

GBPINR :

Clear price action buy signal should be observed at 1.3455 area to create long position.

Or else observe a clear price action sell signal after a upside pullback till 1.3961 area to create short entry.

We will update as it arrives. Stay connected.

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