Rashtriya Chemicals & Fertilizers RCF -

a chart that caught my attention immediately. My favorite horizontal range with volume contraction. Will wait for breakout/breakdown in this. Lots of big green candles in the range. On radar.

Syngene - a long route opened. 1%*3 PnF

LTI - A small trade. Buy till 4700. SL 4375. Target: 5460

R:R ratio = 2.34

Plan positions accordingly. Might retest 4500 levels so safe traders can wait for a pullback.

In this thread, I will explain to you the psychology behind the cup & handle pattern. The attached chart is of Balaji Amines.

Point 1 = Profit booking by many traders and fresh short positions opened taking the stock down till level 2 where there is no more selling

Point 2 - a level wherein the stock becomes attractive again for fresh buyers and short positions will be covered adding strength to the stock.

It moves back till point 3 which is now the psychological resistance level and would again see profit booking by weak hands.

But, this time the stock fell till point 4 wherein the buyers (smart hands) are willing to pay a higher price and further push out the weak hands absorbing all their selling. This is the ideal entry point for a risk-loving trader as this is the closest to the stop-loss point.

Finally, you see - in the whole process - the stock has shifted hands from uninformed retail investors to "smart hands". And finally followed by a cup and handle breakout. The target will be the depth of the cup projected upwards from the breakout level.

When to take entry for a conservative investor? At candle no 5 - the breakout candle and stop-loss a few % below breakout level.

In the next thread - I will explain to you how the same principle works for most of the patterns (No need to mug up the pattern names)

Globus Spirits - pattern X target open is 680

Now, you can well recognize the pattern X after hundreds of tweets on this.

Power grid and an upward sloping channel working in here.

29 March 2022 - Study

#TechnicalAnalysisWithMrChartist

#RCF quarterly chart

Breaking out from a massive 15-year long descending triangle.
Price has been in a tight range in the last 1 year.

This could just be the beginning of a new long-term uptrend.

Stop - 78.

#stockideas

RCF Weekly : Looks good on a pullback to enter

Growth has been fine but overall sector is going good

#rcf

RCF
CMP: 92

- Took support near previous breakout level (67-68)

- Breakout after 1 year of consolidation

- 111 is the next level to watch

Ye Rashtriya Chemicals (RCF) hai Ya Rashtriya Rifles (RR) !!