3 down spikes mentioned in the chart. Both spikes have the same measurement in numbers.
The pivot also has drawn and inner red control price is the first target.
Selling in value preferable for my strategy.
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The range bound move between 11650 - 11850 level is making the price action move with out trend. Breaking 11850 will push the price towards 119200, 11980 and 12040. Breaking 11650 will make the price to fall towards 11580, 11500 and 11460.
BPCL breaks down after a period of consolidation. Apparently, price action is showing a Bear Flag pattern, which will be confirmed if the running candle closes below 376.40. Target of the pattern comes in at 334 levels.
i will be covering/closing my shorts when any candle touches ... the green trend line , break of upper yellow trendline has confirmed the temporary downfall , will update my view when price touches the green trendline .
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60.15 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 60.15 is broken.
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 50.90 on 06/11/2019, so...
Everybody seems to agree that we are in bearish phase and broad range for NIFTY is 11600 - 11800. That, 11800 is very strong resistance can also be seen by option chain data. Total CALL OI on Friday in 3 strikes of 11800, 11850 and 11900 is more than 70 lakhs and fresh total Call writing (in same strikes) was of 30 lakhs. Compare that on PUT side- The total PUT OI...
can get doubled in quick time.
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.