Friday, August 16, 2019

IBull Housing, Tata Motors, Reliance – Time cycles, channels, RSI perfect trade setup!

You will be aware that IBull Housing Finance, Tata Motors, Reliance Industries all of these stocks have been in news for some or the other reasons. These stocks have been showing amazing trending moves in either direction.
By applying concepts like Time cycles, Channels and indicator like RSI one can still derive amazing trades from these stocks.
The most important thing to note is that a long positions should be created on stocks that moves from bottom left corner to the top right which means it is in uptrend and short positions can be created in stocks that move from top left corner to bottom right which means it is in downtrend. This is the most basic principle I use for my proprietary trades.
Now look at the below hourly charts and try to apply the above method:
IBULL Housing hourly chart:
Reliance Industries hourly chart:
Tata Motors hourly chart:
IBULL Housing: The above three stocks show different stages of trend. IBULL Housing Finance shows classical Time cycle of 249 hours and prices have bottomed out near the channel support as the cycle low approaches. Post that there was a sharp bounce on upside and the same can be seen even on RSI. The stock is in downtrend but do provide buying opportunity near channel support and cycle lines. After reaching the channel resistance it has again moved lower and is now retracing a portion of the rise.
Reliance Industries: The stock has shown a strong rise and broke above the downward sloping channel. This stock was dragging index lower and it is now reversing to upside. The trend for it remains positive given the fact that the last falling segment is retraced back in faster time. As long as the gap area is unfilled use dips as buying opportunity.
Tata Motors: The stock is very clearly moving from top left to bottom right corner. It is in a strong downtrend and the Time cycle low is due in a few days. It means that the pullback is going to be short lived and one should look forward for shorting opportunity unless the time cycle low is behind use.
The above research highlights stock selection by using simple but powerful methods. Post that one can apply Elliott wave, Ichimoku Cloud to get exact entry and exit levels. It is a very powerful method for making a killing in the market.
Nifty is already showing attempt to buck the global trend despite of ongoing pessimism.
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