It has been trading within a triangle ever since it activated a Bearish Alt Bat. Above $1735 the triangle breakout suggest $1785 which is the 2nd target of a Bullish Dragon. As per Ichimoku study, the momentum for upside has a decent probability to start tomorrow. It should be noted that triangle breakouts tend to be the last of a trend, this could turn out to be...
Market Looks range bound. Not a Signal/Analysis. Just an Idea I'm looking at!
DJIA has a bullish harmonic butterfly at 22450. This also tallies with Ichimoku monthly as well as daily support.
CADILA HEALTHCARE STOCK SHOWN FLAG PATTERN POSITIVE BREAKOUT.
We also reversed from 50 EMA. Now the price will just do PING PONG. This learning will help us to identify future fake outs. Please like the post (It helps me!) Also comment your doubts. Want to make money along with me? -Click on the follow button.
Comparison of Sept 20 (daily tf) announcement with the one on May 12 (hourly). Former retraced 62% latter is currently at 88%. Former was during market hours and stretched with a gap up next morn. Latter was post market and gap opening gave it away. Crucial support at 8950. Resistance 9300 and then 9450.
if banknifty doesn't hold 19330 then we can see some down side and also it has formed head and shoulder pattern and also it started to trade in very close range be careful. only for educational purposes
Reliance might spiral down till Fibonacci level 1321
ICICI PRU is inside a rising wedge and also is a larger triangle. either side break of larger triangle with determine trend. break of wedge downside can set in correction for short term.. resistance supports marked.. for reference
1)there is divergence between oscillator and price and cross over in oscillator.it is in oversold condition. 2)bank nifty has taken support at an important level. 3)however world indices indicating negative sentiment. 4)today's candle indicating selling pressure at high level. 5)one can go long with stop loss at today's low. which may act as important support.
Stock is facing resistance around its 200 SMA on daily chart. It is trading below its key moving averages. Expect it to go below 1200 in a medium term. View negated if breached 1450