Entry @ 78 to 80 with a stop loss at 73 for initial targets of 85
Rounding Bottom, Strong resistance line is broken. Enter at pullback near resistance turned support zone
Watch RPP infra on a daily chart, if it breaks the descending trend line, it can reach 65-75 levels
EMA full form is *Exponential moving average*. you can google this for detailed explaination and formula. I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe. if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks). NOTE- The length choosen is not an fix and not compulsory...
Nifty chart for reference
NSE:NIFTY from the year 2000 to 2020. High made in 2000 next in 2008 and the same is being tested in 2020. With a major difference being those were peak of a bull run. will this be the peak as well? RSI was too high even on monthly charts in 2000 and 2008. In 2020 its not there yet. Infact RSI also seems to show positive signs.
Can take short position with SL as resistance
Last time i gave 1h Timeframe. It broken the sl and went higher.This time i came up with 4h time frame.No indicator used.just support and resistance and trendline. Education purpose only.you can take trade if you think it is sell.good luck all.
The Bat Pattern, is a precise harmonic pattern™ discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg . The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD...
HCL TECH BROKED DOWNTREND CHHANEL LINE AT 849.60 OUR NEXT FIRST TARGET SHOULD BE 878 AND SECOND TARGET SHOULD BE 906 STOP LOSS AT 831 THANK YOU PLEASE COMMENT YOUR POINT OF VIEW .
The daily time frame is giving a breakout signal today, the weekly time frame will confirm it above 1550 (closing basis ). In that case the most laggard among all sectors will turn out to be a top out performer for moves towards 1900 and then 2300 . Short term support at 1450/1375 . Watch out for this sector is coming out of a v long bear phase screaming Apna...
As in USOIL, we can see a Triangle Pattern so it has the potential to give Breakout in any Direction. It's just a personal view.
BankNifty Positional on Arima Rotational Counts
Levels to watch is marked in charts, Simple Price Action.