Price Action in the financial market is a reflection of human nature, and human nature remains more or less constant.
1. MRF has formed a falling wedge. A falling Wedge represents a temporary interruption of a rising trend.
2. Falling Wedge has given breakout with very high volume.
3. Important thing that needs to notice here that where the falling wedge has given breakout! if you look closely price has given breakout at a very important juncture. where support zone, 200 DEMA, and 0.5 Fibonacci level are all meeting together at one same point.
4. Stocks as formed Bullish Engulfing pattern. The Engulfing pattern is a major reversal signal.
5. Volume is rising, and the delivery percentage also increases, which is a good sign. A high delivery percentage suggests that investors are showing interest in these stocks.
6.Based on the open interest future percentage, an increase in open interest, along with an increase in price, mostly indicates a build-up of long positions.
7. Trend is Your friend. one of the most reliable trend indicators is MACD which is giving a buy signal. MACD Level (12, 26) −1649.92 Buy.
Thank You,
Happy Trading.
1. MRF has formed a falling wedge. A falling Wedge represents a temporary interruption of a rising trend.
2. Falling Wedge has given breakout with very high volume.
3. Important thing that needs to notice here that where the falling wedge has given breakout! if you look closely price has given breakout at a very important juncture. where support zone, 200 DEMA, and 0.5 Fibonacci level are all meeting together at one same point.
4. Stocks as formed Bullish Engulfing pattern. The Engulfing pattern is a major reversal signal.
5. Volume is rising, and the delivery percentage also increases, which is a good sign. A high delivery percentage suggests that investors are showing interest in these stocks.
6.Based on the open interest future percentage, an increase in open interest, along with an increase in price, mostly indicates a build-up of long positions.
7. Trend is Your friend. one of the most reliable trend indicators is MACD which is giving a buy signal. MACD Level (12, 26) −1649.92 Buy.
Thank You,
Happy Trading.