Berger Paints - Weekly - Trendline - Support - ResitanceBerger Paints - Weekly - Trendline - Support - Resitance
1. On the verge of breakout. Strictly follows. trendline support.
2. RSI is entering over-bought so some price retracement can happen
Support and Resistance
Whirlpool - Weekly - Trendline - Support - ResistanceWhirlpool - Weekly - Trendline - Support - Resistance
1. RSI - Double top. Can expect price to correct further.
2. Within the long term trend started in 2016.
Ashok Leyland - Trendline - Support - ResistanceAshok Leyland - Trendline - Support - Resistance analysis
1. At multi year low near 60
2. RSI entering over sold
ICICIBANK - Rising ChannelICICI Bank is the fifth Heavy Weight stock in Nifty 50. A Rising Channel is seen on weekly time frame. Currently price is at a junction of horizontal and trend line support.
Symmetrical Triangle(Bear Direction) NIFTYSymmetrical Triangle (Bear Direction)
Now are in the responsive move, this responsive move has much strength for a pullback.
Trading 11045 above, is bullish for targets 11208 and 11273 nearby as 38.2% retracement of total fall.
If you think for positive: Buy 11060-11080 stop loss 11050 below for the targets intraday R 11155 nearby and next targets 11208 and 11270.
Note: I am already long today lower level.
I also updated to buy you Nifty with reference of :
Important of TAIL on ICICIBANK will full of your pocket.For each U-term , this stock is created TAIL .
Look at the box, I have drawn TAIL so you can easily check it. Suppose, wave(2) has Tur n then it will create a tail on hrs chart .
Resistance 423 nearby.
Predicted waves if everything fine.
Trader's Queries - NCCQuery : View about NCC
Answer : Weekly & daily charts confirm the down trend. If price goes below 86, then it will reach the next support at 81, 76 & 68.
Note : Post written as a reply for the query from a regular follower.
Big Fall expected on NIFTY before ending next week.If you try to look carefully, you will know that.
1. Flag patterns
2. Overlapping and Result of it
Thought we are going to focus today only a few points, the Red Flag pattern is predicted and there is not overlapping still. From both these, concluded that we are going to see a big fall soon. I am till not confirm.
infy at bottom of channel @in_tradingviewNSE:INFY
risky trater buy between 710 705
SL 690
T 720 735 760
Short below 695
SL 710
T 680 665
HindpetroOne can short Hindpetro CMP-286 T1-280 T2-270 with SL 293
But to go it down Nifty should also support it.
Price rotation Price moves because of the war between the bulls & bears. Direction is decided by who takes the control. Generally whenever price is nearing support or resistance, the intensity of the war between bulls and bears increase. Therefore price consolidates. I have marked it in yellow rectangle box and that area is known as "price rotation". Still the bear trend have not changed. Check the yellow dotted line. price is still rotating at this level. At this price rotation area, do not get confused with "tails" or "upper wick". Look for the nearest support/resistance and
confirm the trend before entering the trade.
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Trader's Queries - Part 2 of finding trend directionThis is a classic example for explaining "tails". Price was nearing the support and both buyers & sellers were trying to take control. This was expressed by upper wick & lower wick candles formation. Support was at 462 - 464 levels. Whenever we saw battle between buyers & sellers, we have to wait for few minutes so that we can get trend direction confirmation. Jumping in to the trade seeing "tails" and buying was not a good idea.
Remarkable points: Trading is a waiting game. And winners are the traders who have patience.
Price broke the support and had nice fall. I have given the part 1 in the link below.
Therefore "tail" got negated below 462 - 464 level.
Realtime example of TAIL trade on TATASTEEL4 tails at the value high with one excess and 2 tails found at the value low with one excess. The presently fromed tail is not at excess but its a breakdown channel.
Remarkable points , recently created tail has enough shadow as comparted all others.
Therefore, Possible to fall more OR create a series of tails .
Descending Triangle Pattern Real-Time education.This pattern important role in the breakout to the downside (Some analysts believe that increased volume is not all that important).We always consider the strength or weakness of volume as being the "straw that stirs the drink."
Let see what will happen here minutely and something we can conclude.
How can we trade descending triangles?
Let's check below will reliable or not on real-time.
Typically you want to buy after the pattern breaks resistance. It is good practice to set a stop-loss just below the last significant high.
Hit LIKE button if you want to learn REAL-TIME PATTERN notification.
Traders Queries : Finding trend direction.Query : How to find trend direction as I am confused with tails.
Answer : Yellow line is the support which turned as resistance, Once the price has broken the support, it becomes resistance. When price was nearing the support, the candles were forming with long upper wick, which indicates more sellers were coming in. Once the support was broken, trend was bearish and selling pressure was indicated by candles, we can sell.
Conclusion : Find stocks which has broken the support to go short.
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Tail and look at different things than the long term traders
There're 4 tails at the value high and, 2 tails are detected at value low for a major channel .
When the price is higher above the value high, We found the tail as price reject and reversal.
For instance, you can observe the trend is up before the tail(1) created. U-Turn has been seen after the tail formed. The same thing happened for the tail (1) to (4) in the chart. Vice-versa, Trend is turned up after creating a tail at value low.
Conclusion: Find some stocks which usually create TAILS and observe it. And You can also comment or PM me if you find the stocks. I will lead for trade setup on it.
Bank of IndaHcltect has formed Triangle it can bounce around 80. If 80 is also broken then we may see 60 soon.
