Madhukavali

Madhukavali

Trade setup: after a huge fall, consolidated for a long time and brokeout from consolidation (stage 2) with huge volumes. 50 week EMA providing good support as well. RSI > 50 and Relative strength recovering well. Smallcap index has risen a lot, and please trade with strict stop loss. Buy price = CMP - between 120 - 140 INR (add on dips) SL = 100 INR on weekly...

Madhukavali

Trade setup: nearly 7 year breakout (270 INR), and consolidated (around 330 INR levels), and another breakout and retest. the slope of 50 EMA on weekly time frame supports the setup. RSI > 50 indicates strength. Buy price = around 330 - 340 INR. one can also enter the trade once the relative strength comes back to >0. SL = 260 INR target 1 = range of...

Madhukavali Updated 

Trade Setup: - crossed resistance of 210 INR and sustained on weekly basis (price trading at support levels). - 20 EMA crossed (or is above) 50 EMA on weekly basis, and the EMA's are steep in upward direction. - RSI > 50 - RS is positive (>0) Buy price = CMP (215 INR). Add on drips until near 50 EMA Stop loss = trendline Target = 310 INR

Madhukavali Updated 

As the market has been super volatile, stayed away from trading. Anyways, Let's take a quick trade whenever opportunity presents itself. Auto sector has the momentum. Trade Setup: Daily: formed double bottom, and chart structure changed from LH - LL to HL, with HH yet to be confirmed. Crossed 50 EMA & trend line, supported by strong volume during the up...

Madhukavali Updated 

Trade Setup: Monthly: Forming inside bars from green candle formed in March21. Hammer & doji's formed at the bottom of down trend (positive). Weekly: Crossed the longterm trend line (red colour), and retest happened. As a confluence, broke out of wedge pattern with volumes, and retest happened. The bottom trend line (pink colour) acting as support. Crossed 50...

Madhukavali Updated 

Trade Setup: Daily: broke out of triangle pattern, with huge volumes (after a long consolidation). Bullish Marubozu candle sustained. Trading above 50EMA and 200 EMA. Crossed major resistance (approx. 17000 INR) after a long time. Weekly: crossed and sustained 200 EMA after a long time (since 2017). forming HH and HL. Inverse head and shoulder pattern as...

Madhukavali Updated 

Trade setup: Weekly: Multi-year breakout (with cup & handle pattern), consolidation and breakout again (with bullish Marubozu candlestick & huge volumes). Crossed resistance @1880 INR approx. and sustained. One can also consider flag and pole breakout pattern. Trading above 50EMA and 200EMA (sloping upwards). Entry = CMP ie; 1922 INR (any dip until 1780 INR is a...

Madhukavali Updated 

Trade setup: Weekly: Cup and handle breakout done with huge volumes. After that, consolidation done and another breakout with volumes. One can also consider this as Flag and pole pattern. Also, taking support at trend line. Entry = CMP ie, 789 INR Sl = below trend line or swing low ie; 650 INR or 50 EMA Target = 1079 INR (length of pole) RR = 2.07 Since there are...

Madhukavali Updated 

Take a bet here because the stock offers a setup with multiple confluences. Last time, i took the trade, SL was hit. Let's see how it goes now. Trade Setup: Weekly: 1. there is a divergence in RSI on weekly (blue color), a powerful sign. 2. Support zone around 600 INR levels (black line), which coincides with 0.618 Fibonacci levels. 3. long term trend line...

Madhukavali Updated 

Trade Setup: Daily: inverted hammer, indicating buying intention. The volumes are high, which means accumulation at lower levels. As a confluence, the stock is at bottom of channel pattern & strong support level (pink zone). Entry = CMP ie, approx. 3397 INR SL = below 200 EMA or support level at approx. 3300 INR Target = 3700 INE (Next resistance zone) RR = 1:...

Madhukavali Updated 

Trade Setup: Monthly: Stock has broken out multi-year trend line, with Bullish candle. Huge volumes are accumulated. Crossed 50EMA and sustained (never did before in its lifetime since 2010). Weekly: change in trend from LH - LL to HH - HL. 50EMA and 200 EMA providing good support. Crossed 200EMA resistance as well (never did before since 2010). Overall, Good...

Madhukavali Updated 

Weekly - moving in an ascending triangle. Daily - double bottom formation with doji candlesticks. Can enter once the trendline (pink colour) is broken. SL could be 200EMA or long term trendline (RED colour) based on your risk apetite on a weekly chart. RR is pretty good.

Madhukavali Updated 

Trade Setup: Daily: Gap filled. Bullish engulfing candle seen with good volumes. 50EMA and support line (at 735 INR) should be a good base. 4 Hour chart: took support at 50EMA. In general, on Bank Nifty index chart - a doji seen at bottom levels, indicating a potential for turn around. 38350 - 38390 levels should act as a strong support levels. Technically,...

Madhukavali Updated 

Trade Setup: Weekly: Making a round bottom. Crossed resistance of 560 INR with volumes. Trading above 50 EMA (sloping upwards) & 200 EMA Daily: slope of 50 EMA and 200 EMA is upwards indicating momentum. Took support (long wick) on 50 EMA as well. Entry = CMP ie; 613 INR SL = below 560 INR. Consider 550 INR as SL (with buffer) on weekly closing basis Target =...

Madhukavali Updated 

Trade Setup: Daily TF: seems to be forming cup and handle formation. Structure changed from LH - LL to HH - HL (bullish indication). Stock taking support at 200 EMA. Weekly TF: Stock talking support at 50EMA Entry = 3913 INR (CMP). Any dip is a buying opportunity. SL = 1% below 200 EMA on daily TF or below pink trend line or swing low ie, 3660 INR Target = 4260...

Madhukavali Updated 

Trade setup: Daily TF: Broke out of Pennant formation (continuation pattern) with volumes. Structure changed to LH - LL to HH - HL (bullish). taking support at 200 EMA. 750 INR levels will act as strong support. Weekly TF: Taking support at 50 EMA. Entry = 811 INR (CMP) SL = Swing low ie; 720 INR Target = 870 INR (t1), 970 INR (t2) RR = 2.09 (considering T2)

Madhukavali Updated 

Trade Setup: Weekly and Daily: Excellent breakout from multi-year resistance with bullish candle (negligible wick) and huge volumes. Taking support at trendline. Entry = invest 25% now, and invest rest on retracement between 6000 INR and 6200 INR. SL = below high volume candle (weekly TF) ie; 5290 INR Target = 1.618 levels of fib = 7808.55 INR

Madhukavali Updated 

Trade setup: stock is moving in symmetrical triangle. Weekly: 50EMA providing support. Doji's are formed at bottom of the trend. Daily: 200 EMA acting as support. Bullish engulfing candle (engulfed last 4 days red candles) with reasonable volumes. Entry = 1434 INR SL = 1339 INR or 1300 INR based on your risk apetite. Target = 1630 INR RR = 2.1