ACC has traded into the weekly resistance which was previously support. As the price moved to resistance, we can see on weekly long wicks to the downside . Now on the daily TF we have bearish engulfing. Enter short and target around 1125 as first target.
There is a divergence in monthly TF. Nothing can be predicted for RELIANCE. Anything can happen. But as per the charts, there is a divergence which is not good for new investments as old/big investors will offload their shares. Even the candle formation is outside the upper bollinger band which suggest the price may retrace down.
If we study volume and Moving avg, looks like we can see again a bullish move, Buy around 800 levels Target 840, 900 & 971
SHORT NSE:CESC at 610 Price is near demand zone on higher time frame. Stock is forming LH-LL . SL is bigger here(627). Just observe price action. Expecting a target of 575/557
Perfect bounce from the demand zone. Added when everyone was onto this stock for the last move upward and then booked profits when the momentum slowed down and broke the uptrend. A move straight from the textbook
All we need to look around our surrounding to find multibaggers nothing else And some technical knowledge that's it
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.
Even though Ashok Leyland doesn't fit our investing framework, posting this in case it will be useful for already invested investors
Bank nifty is facing strong resistance @23400-23700 level Supply zone is @ 22275-22600 Demand zone @ 20950-21180 Demand zone @ 20000-20360 Strong support @ 18560-19050
Bharat Forge is a good example of several stocks in the Nifty 500 right now. The stock is stuck between former support that's been intact for nearly 6 years (355) and former resistance that's been intact for nearly 15 years (200). As a market participant, it's difficult to bet on this type of stock longer-term in either direction as long as prices are between...
Wait for the strong break on either side
Today Bank Nifty tested its Short term Major Supply zone @ 21350-21750. This same Supply Zone is there on a daily and weekly chart. On the downside, there is a minor support @ 20500 and demand zone @ 19700-19800. I will plan my trade if Bank Nifty will sustain above 21350.
Nifty closed in the supply zone of 9490-9580. On the downside demand zone @ 9230-9250. Today as I have mentioned in the telgram group that I am not expecting nifty closing below 9490. The reason is: 9490-9580 is a supply zone on a daily chart and 9490-9735 is a supply zone on a weekly chart. So 9490 is a very crucial level in a higher time frame. I am...