Einstein15

KOTAKBANK Expanding Wedge

NSE:KOTAKBANK   KOTAK MAHINDRA BAN
KOTAK BANK is moving in a rising expanding wedge for over four months now.
following parallel channels inside.
Comment: ANOTHER SETUP! HIT THE PLAY BUTTON !!
After the good leg down, its back on testing the base, for a breakdown/reversal.
Normally I have seen drawing one line but you are using two parrel lines as support as well as resistance levels can you justify why?
Reply
Einstein15 AkshathBharathi
@AkshathBharathi, It gives a little buffer space.also not all the reversal points touches single line. As u can see th bottom line covers the wicks that cant touch the upper line <single arrows>
double arrow is where the base of middle candle falls on the bottom line too.
triple arrow = wick of hammer-candle falling on bottom line gain, so its still of a significance, which gives us a nice ZONE where it reverses.
+1 Reply
Einstein15 AkshathBharathi
+1 Reply
Hey do you have any youtube video showing how to draw these lines?
It would be great if you can share?
Reply
Einstein15 AkshathBharathi
@AkshathBharathi, I dont know about any video. But its just a simepl "parallel_channel_tool that u can find in the lines too section on the left.
+1 Reply
Hi, you have any idea on Bharatfin? Thanks.
Reply
Einstein15 hridaydasgu
@hridaydasgu, Its kinda messy at the moment. It did break the falling wedge and is retesting the trendline, for a possible bounceback up . or fall down if it cannot hold the level.
That orange box has real random movement of price

+1 Reply
hridaydasgu Einstein15
@Einstein15, Thanks for your time, This is hourly chart or daily?
Reply
Einstein15 hridaydasgu
@hridaydasgu, The info is on the topleft of the chart.
Reply
hridaydasgu Einstein15
@Einstein15, Got it. Thank you for your time. You may delete all my comments. Thanks.
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