Best Trades Of The Day |BUY & SELL| 6 July

Short Trade: Archer-Daniels-Midland Company (ADM)

Trade Details:

1. Reverse from a higher level of trendline channel
2. RSI is at 76.50 and it will adjust to the lower levels soon
3. Too far from 200 Days EMA, the price will come closer to 200 EMA
4. Risk-Reward Ratio = more than 1:2 and 1:4
5. It will come to the lower support zone in the channel
   
   

Trade, SL and Target –

Entry = 77.10 (If triggered)

SL = 77.85

Target 1 = 75.65, Target 2 = 74.15

Please note: This stock has significant support at lower levels. Please don’t hold this trade too long and trail your Stoploss to cost price if you get 1:1 Risk reward.

Bullish Trade: Corteva Agriscience (CTVA)

Trade Details:

1. Trading at lower support levels.
2. Exit out of this trade below the 56 levels because it will make a deep correction after 56.
3. Reverse from touching support at lower levels.
4. It may go up to 200 EMA – 57.65 or even more upper levels.
5. RSI is changing trend to upward
6. Momentum is trying to change the upside
7. Risk-Reward = 1:2 & 1:4

Trade SL and Target –

Entry = 56.60

SL = 56.30

Target = 57.35 – 57.80

Please note: This stock is trading in rangebound and now it is at a lower support zone which leads to attracting many buyers and stock may go up. If it breaks 56 levels then it may go into a bigger downtrend.

Reversal Trade: Essex Property Trust Incorporation (ESS)

Trade Details

1. It is reversing from a strong resistance level.
2. It may touch the lower support on the trendline.
3. Better for intraday only because this stock may go opposite
4. Risk-Reward = 1:3

Trade SL and Target –

Entry = 234.90

SL = 237.92

Target = 231 (1st Target) AND 227 (2nd Target)

Please note: This stock is in an uptrend and we took sell-side trade. So you have to follow your stop loss strictly and trail accordingly. We take this stock because it is far away from 200 EMA and it may retouch the levels around its 200 EMA where we can exit with this stock. 

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