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...
1) Pin bar act as support and resistance 2) Low of bullish pin bar act as support and high of the bearish pin bar act as resistance 3) logically a Pin Bar should close in favor of the prevailing trend, for example if the trend is up then the Pin Bar should have the closing higher than the open and should be a bullish Pin Bar. The opposite applies for a down trend....
Price formed a falling channel which has the character to break up and again the second confirmation is the triangle pattern inside the channel which was broken today.
That was a big miss, easy miss, lazy miss !!!
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TCS is near support zone and taking support firmly at 2600, sustaining this level could give breakout at upper trendline. however if it breaches 2600 it can close the gap created at 2530-2600. on lower time frame (1hr) it broke 21 EMA but at the end closed below 21 EMA. and made higher low.
Although I had this on watch, but I wasn't able to catch this rally.
Look at the pattern.. A perfect bullish Flag!
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Today BNF entered the long channel that it broke in September. The lower channel line is respected from May 2020 and is acting as a good support and resistance. With todays break out with good volume should give BNF a good boost to sail through 26500+ points easily in coming weeks. There are some gaps to fill on the way that was created by the fall during covid...
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last 3 hourly candles shows - high isnt broken yet making those level strong resistance for day + higher lows can mean bears not able to play much today = 2nd half can either be for #bigbulls or pay withing this inside body ... lets see the play
disclaimer - for only educational purpose.
