Structure Reading of Strong stocks. How to read similar strong stocks but different structure.
A parallel channel which can also be termed as a price channel is a tool to identify a share’s price in bounded parallel lines. It can be horizontal, ascending or descending. It’s a great tool for those traders who believe or trades with the idea of Price action. A parallel channel can be formed when the price of a security is restricted by supply and...
AXIS BANK - RANGE CONTRACTION
I was wondering who is pushing the Bank Nifty, so I decided to visualize this by this simple comparison. The three major PSU banks are compared with the NIFTY BANK there market cap is as follow 3 (25%) PSU banks out of 12 holds 28.05186836 % of NIFTY BANK VALUE. 9 (75%) Private banks out of 12 holds 71.94813164 % of NIFTY BANK. ...
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Ultimate Swing indicator
axisbank support and reisitance breakout trade
It is on the verge of an Inverse Head & Shoulder Breakout at 445. It could rise till 475-490 (with minor resistance at 455-460 - island reversal zone) as long as it does not breach 435
Reason behind falling from the levels drawn
It is on the verge of a breakout above 440 in daily time frame which indicates further upside 1st till 465 and then till 520 as per weekly time frame. The view would be negated below 425
Can give a big move in the direction of breakout
Educational Purpose
Breakout in either direction. Triangle pattern seen