With good volume growth reported QoQ in Q2 results, Dabur can be a considerate stock for next week before Diwali. Any upmove or closing above 531-532 would set target upto 540-550 + with SL 516.
It might be forming a THREE VALLEYS & A RIVER in hourly time frame. It has two bearish Harmonic Trading Patterns at 11875 (Deep Crab) and at 11975 (Alt Shark). "If" a REVERSAL were to occur from that zone then the downside expected levels could be 11750 / 11550 / 11400. The negation point would be at 12020
ACC has formed divergence. with lower rsi and higher price. shows a triangle at the top. price above or below the triangle can give a trending move. note: crucial week for markets with US elections this week. lot of volatility expected. saving capital is primary importance.
The rules of elliot wave theory are strict, any break of the rule may lead into wrong analysis, always keep rules on your mind while labelling the waves. If you're a beginner, write down the rules in a sheet of paper, read it before labelling the waves. How to improve yourself? Practice! The more you practice, better the results. Regards
CADILA HC - IN RANGE FOR 3 DAYS TRADE OUTSIDE THE RANGE WITH PROPER HIGH VOLUME BREAKOUT & PULL BACK
BHARTI AIRTEL - TRADE OUTSIDE THE RANGE CONSOLIDATING WITH ANOMALIES TRADE ON PROPER BREAKOUT WITH VOLUME + PULLBACK
Last time i posted this stock on 13th of October and since then it kept me waiting for the right time. I clearly mentioned it needs to halt before breaking out and that is what it did. Previous Posted Chart for the reference :- Waited for almost 20 days and then gave returns of 10% in a day. This is what is important in trading Waiting for the right time....
Price forming a triangle pattern and currently it is rejecting from the top of the trend line and falling towards the bottom trend line. It is good to enter long when price reaches the trend line bottom with small stop loss or wait for the reversal confirmation and go long.
It is clear that 26500 can be seen in BankNifty... Where next?
Basic Trend line and resistance in mcx
SRTRANSFIN is near 800 level, which is a strong resistance after march crash, however it has been tested multiple times, but this time it has also crossed 200DMA and trading near 800 level. it looks it could retest 750 levels before giving breakout. once it breaks 800 level. 800-960 levels openup for upside. RSI is at 68 on daily scale and RSI is at 56 on weekly...