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Is this head and shoulders? Yes
Is this a good head and shoulders pattern? No
Here are the reasons why one should avoid going short:
1) Premature neckline breakdown in almost 41+ bars. A breakdown in approx 64 bars (or little more) would have been a good one.
2) Volume increases near the head and shoulder peak and decreases near the neckline in case of good ...
THIS IS THE FOURTH PART OF THE ANALYSIS ON NIFTY -1.24% 2.32% FALL. IF YOU NOT READ THE PREVIOUS ONE 3 POSTS, PLEASE READ THE SAME FOR BETTER UNDERSTANDING. I HAVE ALSO SHARED ITS LINK BELOW.
Some Lines I said in the previous post
“In the process to up,There has been 2 Gaps created in the past downfall and crossed 2 Fibo support (Mentioned Below) which will stop ...
On 8th October it was published that Nifty may give a relief rally upto 10750 (Refer to the link below). The Index opened gap up on wednesday 17th Oct and made an high of 10710, just short of 40 points of our pullback target of 10750. Bears tookover the dalal street again after 6 trading sessions to give a closing at 10453 i.e. -257 points from highs.
Daily Chart LUPIN.
Broke above 50 EMA and currently in pullback mode.
MACD Line crossed above signal line which indicates upward momentum.
This is just my personal observation, for information and education purpose only.
It is NOT buy or sell recommendation.
At Support Zone.
At Support of Lower Line of Channel.
Taking Suppor at @ 61.8% Fibonacci.
Other Details Mentioned in Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Levels mentioned in the chart!
Levels mentioned on chart..
NIFTY BUY 10400
CRUCIAL SUPPORT 10300
IF BROKEN, NEXT SUPPORT IS 10000.
Bounced off a critical support which it didn't break in the last down move either. Will be interesting to see next week. If this extreme loss of confidence continues and there is no support from the RBI we could reach the lower support where even on a dividend yield basis basis also it becomes super attractive.
the zone may come up in a week , or in a month or in 6 months. set up a price alert and let it run.
Bulls tried to catchup with 200 Day SMA and also the support line of the up-sloping channel wherefrom Nifty broke down. This rise was on the basis of: a) short covering and b) Positive Divergence on RSI. But Rising Wedge played out. So despite morning exuberance of bulls on Wednesday, bears stood formidably on the way through the second part of the session. ...
The stock has a gap in the hourly chart + has been experiencing consolidation. This could result in a price rise.
reliance have good results on this quarter.it have good support at 1140 and major support at 1114 also resistance at 1180 and 1211 and 1250 is also resistance if it crosses it goes further to place high.go long if it breaks 1179 and good entry at 1212.go short if it breaks 1140 and good entry at 1114 sl at 1150 as per my view...comment your opinion ...
Month candle from 2006 till date.
any one can conform as tradingview.com is not showing old data.
please correct me if i am wrong here as I am no expert.
18 OCT 2018
GOOD SELL BELOW 1140 FOR 1130-1132/1120-1122 SL 1151