Indian Stock Bhartiartl has a 6 timeframe Buy opportunity

Indian Stock Bhartiartl has a 6 timeframe Buy opportunity.    For over 1 month now, Bhartiartl has been coming up for in our multiple time frame opportunities.   Here is a snapshot of the email summaries for over 1 month:

The opportunities have been varying from 4x to 7x for over 1 month now.   Unfortunately, it has not broken out in order for the bullish trend to start.     May 17, there it had a very good probability because it was a 7 time frame buy.   Here is a email alert:

On the email alert, besides the instrument name, we give a numerical representation of the strategy.  A strategy #4 indicates a possibility of a new trend or a trend continuation.   A strategy #2 indicates a counter trend, consolidation, or major pull back.    In order to have a higher probability of a breakout, you need as many #4 in the email alerts, especially at the 60m,120m,240m, the middle layers.

For this email alert, you had the 30 and 60m still a #2.    Apparently, that was not sufficient enough to cause the breakout.     After that time, we have been looking for the 30,60,120,240, and D to have a #4 or increase in the number of #4 to see when it possible can breakout.   If it disappears from the email alerts then we know the trade reversed into a consolidation pattern or bearish trend.

Today, here is the current email alert:

Here, we have the same number of #4 but now the 30/60m are involved.     This will increase the probabilities for a breakout trade.  Here is the breakout setup.

 

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About the Author Manesh Patel