Newton Challenge Day 1: 13/11/18

PNB Tilted HNS and Uptrend

Case I: PNB is currently in the uptrend and the uptrend will get killed on Trigger II i.e. 67.4
Case II: Also, in the aggressive case, We can observe tilted HNS Pattern which will get triggered on Trigger I i.e. 69.

In both case, stop loss should be kept at 72.5

If the stop loss is touched, one should Stop And Reverse as it will be a continuation of the uptrend.

UPL - Rejection of 750 Levels

We can see it is getting a serious rejection from 750 levels. It is running up because it alcohol stocks always run up before elections. Election theme one can say. Let’s sell with CBSL.

Aftermath -

PNB opened at 68.95 triggering trigger I but if you see the below chart, it rocketed 1 point up in 1 tick making it impossible to take the trade. So the trade was cancelled.

Made 5.5 points on UPL (2 Lots)