Best Stock Picks |BUY & SELL| 31 Oct

Short Trade: Mohawk Industries, Inc. (MHK) – 79.47

Best Stock Picks

Trade Details:

1. This stock is trading at its higher resistance levels and must fall down again.
2. Reversing from the 50% reversal zone after a small pullback.
3. It has already reversed earlier after hitting the upper trendline.
4. 80 level is also a psychological level of resistance.
5. RSI is reversing from 60 levels which acted as a resistance zone earlier.
6. Trail your stop loss at entry price after getting a 1:1 risk reward.
7. Risk Reward 1:4.5
8. Ignore this trade if it crosses 80.05 levels because it is in a strong uptrend & we trade with a probability of reversal.
   
   Trade, SL, and Target –

Entry = 79.40

Stop Loss = 80.04

Target = 76.50

Please note: If it gives a breakout above the trendline then it may go towards higher levels around 83 to 84.

Long Trade: Carrier Global Corporation (CARR) – 47.37

Long

Trade Details:

1. This stock is taking support at the trendline and it may bounce to the upper resistance zone.
2. It may reverse after retesting the 200 EMA.
3. RSI is good & taking support at 50 levels, it may shoot up soon.
4. Don’t trade in case of a down opening. For more confirmation enter above its EMA level.
5. Risk Reward = 1:3.5+
6. If market sentiment is negative then trade in half Quantity.

Trade SL and Target –

Entry = 47.41

Stop Loss = 47.13

Target = 48.49

Please note: If it reverses downside from its EMA resistance then Ignore this trade, Enter after the last higher swing.

Reversal Trade: The Hartford Financial Services Group, Inc. (HIG) – 72.64

1. This stock is trading at the upper resistance zone and trading in a channel.
2. This Trade may give a breakout or breakdown, we trade with the market sentiment and technical pattern.
3. But there is more probability of a downtrend as per the last price action patterns.
4. If it breaks the above trendline resistance, above 73 levels.
5. If it opens GAP Up then ignore this trade.
6. RSI is flat and looking slightly bearish and reversing from upper levels.
7. Risk to Reward Ratio = 1:3.5

Trade SL and Target –

Entry = 72.60

Stop Loss = 73.02

Target = 71.13

Please note: Strong reversal zone, must follow the SL and keep trailing.

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