DSSL BO with huge volume with support/demand zone found on the magical Parallel channel. Stock is finding good support in the zone of 250-260, rest we can plan the trade as levels mentioned on the chart
Case Study 1 - Reliance Industries -
Long Term Magical Parallel Channel : we can clearly see the price has respected the parallel channel in a magical way,...
METAL INDEX: Formation of HH HL on daily time frame. Bottom formation is done in metal index. We need to see impulsive price action to confirm for a new high as a continuation of the larger uptrend. Till then it is confirm that there should be a bounce at least in all metals. STOCKS TO WATCH: TATA STEEL (MY FAV.) , SAIL , HINDALCO , jindal steel is also...
TataSteel -
NEWS - Results on 11 Nov, highest ever quarterly profit.
Expectation - Strong buying and big trending move.
What actually happened ? - Fall from 1340 to 1271, down 1.3 %.
As usual news channels hype the results, so called 'analysts', big players declare it the best thing ever.
Those unaware of the game buy this fake hype, they buy at open.......
Hello everyone, first of all, thank you for all the support and comments. It's not possible to reply to everybody's private messages, so in case I am late or couldn't give a reply, please do not mind.
Coming to analysis :-
The chart looks bearish and once it breaks the box/consolidation phase, then we can see further fall towards the median line of 2nd...
jsw steel y views is to trade on levels ( positional bias short on rise , but intraday and as per market trend
one can play swngs .
simple demonstration of how basic support resistance are helpful
through ed arrow (resistance) while blue arrow (support)
hope one will find it useful and take benefits ( dua me yaad rakhna) .
Tatasteel, after the breaking out of the falling price channel on weekly, price is again re-testing the falling price channel.
On Daily chart price is below the 0.382% retracement level of (w3) which is at 459.10. Today's low is so far 450.65.
Wave 2 ended exactly at 0.382% (W1) at 382.
If price holds a falling weekly channel re-test level, which is around...
After making a double bottom it is now attempting to complete the Bullish Harmonic Dragon Pattern which suggests levels of 490 and 575. The view would go wrong if it sustains below 420. Double confirmation is weekly close above 440
It has a weekly as well as daily resistance at 420 from where it has reacted. Unless it manages a close above it there is strong possibility it might retest support at 390-380 to confirm a higher low. Sustaining above 420 (on closing basis) could take it to 475
