WITH ABOVE SAID CALCULATOR WE CAN PREDICT MAJOR SUPPORT, RESISTANCE AND RETRACTION LINES WITH IN ONE CHART. I HAVE GIVEN EXAMPLE OF ESCORT CHART AND PUBLISED IT. PL READ IT CAREFULLY AND FOLLOW THIS CHART .
Comment:
ESCORT NOW WILL TOUCH TO 485 BECAUSE IT BROKE 545 LEVEL ON CLOSING BASIS.
Comment:
Some correction here pl consider 614 instead of 416. It was typo mistake.
Retraction lines rule
usually stock price retracts after touching major support/resistance lines. But in the case where stock does not retract after breaking one support /resistance lines than stock will retract after touching second support/resistance line upto retraction of first support/resistance line. as seen in escort when it broke 416 level and directly went to 545 level than retracted upto 639 level.
3 retraction lines-stock can take upto 3 retractions.
if in the case stock retract more than third line then we can assume trend reversal.