inverse head and shoulder pattern has formed beautifully in 5 min time frame but trading view is not allowing me to publish (publicly ) chart below 15 min. still you guys can manage here on 15 min time frame.
AS YOU CAN SEE BLUE LINE ON TOP IS LONG TERM TREND LINE WHILE RED LINES ON CHART AND STOCHASTIC ARE SHOWING ( FOR NOW) BEARISH DIVERGENCE BUT DIVERGENCE WILL ONLY BE CONFIRMED IF CANDLE CAN NOT CROSS RED TREND LINE AND STOCHASTIC AS MENTIONED WITH RED RECTANGLE GIVES BEARISH SIGNAL MEANS RED LINE OF STOCHASTIC CROSSES BLUE AND GOES ABOVE BLUE THIS WILL THEN MEAN...
The chart has highs and lows of first 15 min. candle marked for a few trading days, and backtest results of trades taken on breaking of these levels in either direction.
A friend has told me about this system, I decided to back test out of curiosity, surprisingly it works. The system gave 100+ points on Bank nifty on 9 out of 11 days.
I believe, if we use...
Bank Nifty still has room on upside.
Triangle formation on hourly chart, IF HDFC Bank starts moving tomorrow Bank Nifty is a buy.
KOTAK / ICICI Bank are in downtrend.
SBIN And Axis have just broken out of range.
Most importantly HDFC Bank has to come out of the range to perform and uplift Bank Nifty.
Dear Traders,
Thank you for your support, It helps me more to post more educational videos on technical analysis. Today I was discussed about how market respects the trend, and how accurately works. Based on my experience and my knowledge and the way I'm analysis the market, I have posted an educational videos every week.
This week I was posted about the rally...
NSE:BANKNIFTY
BankNifty RSI closed below trend line
price closed at support
26500 will act as major support
below this another 600 - 900 fall can be possible
In banknifty we can clearly see that it has given a close above CPR and its R1. Whenever the prices close above the CPR and/or R1 it is said that prices move up.
In nifty it has given a close above CPR and weekely central pivot. So again an upmove is expected.
Buy on dips is suggested for the coming session on 13/8/2019.
CPR and pivots are marked with blue arrows...
stop loss 30920
look for pullback till 30900 , and then look for short.
1st target ===30200
2nd target ===29064
3rd target ===28420
4th target=== 27720
5th target===26737.
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
