Ladder formation (Another rare pattern) Like INFY this stock is also following ladder pattern but in downtrend. Generally it is observed that on of these ladder steps, stocks breaks the channel and moves with tremendous momentum. Is IRB ready for this move???
nifty pharma was weak in the previous month while when market is setting record highs, this sector is silent as of now... as per chart it must be the one who may provide strength to nifty ! in the days to come !
OIL: Now in case of OIL you can see a ascending channel breakout on up side but now questions is, Oil going to stay above that breakout level or not? Now CMF showing that a clear buy volume above that level and RSI also break 60 level after long time and along with if can put 200 EMA you can get another confirmation for clear buy for hold until 340 level come....
This is the second education series on Channel (link of Education 01 given below), In this educational post, I cover up points that validate a Channel and benefits of drawing a right channel. Validation points are as follows: Point 1: Two Parallel lines Point 2: Higher High and Higher Lows in Uptrend and Vice-versa. Point 3: Two compulsory touch points in...