#001 | Swing Trades for the Week
US Elections over, Muharat Trading on the cards. What are we looking at?
Welcome to the first newsletter of Swing Trade setups. At the onset, I wish to make one thing very very clear.
The complete idea behind this newsletter is not to make you think of it as a ‘get rich quick scheme’. If you’re reading this, you have already gone through the description and the disclaimer in detail.
At the end of every week’s newsletter, we will be sharing the hit ratio to keep things as transparent as possible.
Also, this is the effort of multiple stakeholders involved with Alpha Swing. My job is to hit send.
Let’s dive in.
Eicher Motors had been consistently trying to break the range multiple times until this week. In the weekly charts, one can see that the range has been finally broken and re-tested.
The range has been broken with good volumes. The trend looks bullish.
In daily charts, Eicher has managed to break out from Pole & Flag along with great volumes. This again adds a confirmation bias to the bullish uptrend.
The stock can be bought above today’s high or on dips, till the breakout line above 2300 levels.
Jubilant Foodworks broke out from the marked channel and also gave a proper re-test.
Let’s now have a look at the daily charts.
In the daily charts, one can see that a range was getting formed and finally the breakout occurred from the triangle.
Now let’s look at the hourly charts.
Jubilant formed a cup and handle in the hourly setup and even gave a retest. The stock is presently at highs along with increasing volumes.
The trend looks bullish.
In the weekly charts, one can see that the long term trendline has been broken with a bullish trajectory in the current week.
The idea of looking at weekly charts followed by daily and hourly charts is to do something commonly known as ‘multi time-frame analysis.’
Let’s see how the daily charts have panned out for Chambal.
One can see that the cup and handle pattern has been broken in the daily charts. The bias is Bullish.
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That sums up this week’s setups assimilated by the team. We will see you next week!
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