Lack of buy trend(Higher Low, Higher High) before the weekly chart pattern breakout resulted in price fall
Hourly chart pattern breakdown after the weekly chart pattern breakdown resulted in price fall
After reaching a high of 553, the scrip is in falling mode with more selling pressure. Presently it testing its previous support of 413 and the future of the scrip will be decided on the basis of fresh support with good volume at this support level for the uptrend. else further fall is expected up to 382.
The bearish trend for Pidilite Industry is continuing for the last 7 sessions. It is testing the immediate support level around 2186. If it breaches the immediate support level with a bearish candle, further fall in the scrip is expected with high volumes.
Glenmark Pharma is still under the consolidation phase for the past 3 and half months. Though there a more green candles with volumes unless it cross the previous resistance of 538 with a big green candle, the same trend of consolidation will continue. A new entry is suggested only with a confirmation of above 538 with good volume and a continuous range above 538.
After consolidation position between 727 & 834 now has started breaching the support level at 727 which forms triple bottom position and going downwards and presently at 693. If breaches the immediate support level at 693, there will be an immediate fall, unless there is any positive trend in the next 1 or 2 days. cautious for a new entry.
Going with a view of more 3-5% fall in nifty. Reasons for my view: 1. Support at 16K level on weekly time-frame. 2. 200 days SMA support also at that position. 3. Trendline support is also present over the area. Note: This is only for education purposes, please don't take any position on behalf of this.
Motherson Sumi is on Bearish Mode. It has breached the latest support levels 221 & 210 and have steep fall on last 3 days. Expected to go down till 200 where there is a strong support. Unless there is any immediate positve news, the expection is fall further till the support level.
with picture perfect fib extension will nifty reverse have we made new bottom of 16800 ?
with picture perfect fib extension will nifty reverse have we made new bottom of 16800 ?
with picture perfect fib extension will nifty reverse have we made new bottom of 16800 ?
Daily chart pattern breakdown after the weekly chart pattern breakdown resulted in price fall
Weekly chart pattern breakdown along with sell trend(Lower High - LH, Lower Low - LL) in daily TF resulted in price fall
Daily chart pattern breakdown will occur after the monthly chart pattern breakdown in this stock
According to previous Price behavior and current situations, here I am posting support and resistance levels for intraday and short term swing trading.
Nifty 50 index would get supported by monthly TF swing's 38% fibonacci retracement for a while
Buy trend (Higher Low, Higher High) was formed in daily TF with the support of weekly chart pattern. Hence entry before the weekly chart pattern breakout was acceptable and considered good.
This stock gave good movement after the daily chart pattern breakout