cuphandle broken in UJJIVAN on 15 min chart, it may reach updato 225 in short term.
In my previous chart, I have discussed how Nifty 50 had a strong bearish breakout. Now I will be making supporting charts which could have been used to confirm the trend. RIL is a heavyweight stock of Nifty 50 & perhaps has a high correlation. NSE: RIL is been making beautiful triangular pattern on the daily period chart. There was a breakout of EMA (...
I am posting these chart as my learning stage, most welcome for your suggestion
A rising wedge is a chart that suggesting a reversal pattern frequently seen in bear markets.
From 27 Oct 2019 to 26 Feb 2020, Nifty 50 was range bounded where I think it was a distribution phase. 11614 was also major support (Price action) EMA (200 Days) was acting as support for a long time. It took support three times and then it broke its major support.
Chart is clear
Ugly movements either side from here ...so be safe
Bank Nifty may be strong in the coming days. It's a good sign if it will sustain above 19000-19300. Next resistance is 19650-21800. Data formation is also positiv in Bank Nifty.
As expected it has declined to 50 from its highs. It has very strong support between 47-50. Sustaining below these levels could take it all the way back to 30-20, which in turn would be good for equities as a falling vix gets stability which leads to a calm recovery in terms of both PRICE & TIME, so what is being perceived a quick bear rally could turn out to be a...
Triangle pattern breakout with high volume during breakout.
It has activated an Ichimoku C Clamp in higher time frame and hourly is indicating a possibility of a fresh breakout. It could retrace till 15500 provided it does not go below 13250
It has reversed from a Bearish Harmonic Deep Crab which also coincides with a Weekly Ichimoku resistance. It could retest 540/515 if it fails to sustain above 580
2000 BEAR MARKET Can you spot the rhythm in the declines here