RELIANCE has hit 2.618 extension from the lows where the rally started from.. it can take a breather here and have a correction or sideways movement for a few days.
Just posted chart for learning purpose, please note the retracements levels bounce from key levels. How stock behaves at key levels marked to form price action on downside when the latest swing was marked using fibonacci retracement After Forming W Pattern at bottom, confirming through RSI Divergence, 1) First Retracement to 38.2% levels, then came down 2)...
1546 immediate Support...if close above 1717 then can touch 1850+ Target. 1430 is strong Support.
It is failing to make higher high's, as long as it sustains above 525 it may go higher, if it fails to sustain the support trend line it fall upto 500 followed by 480 levels. we can review further levels after reaching those levels. However weekly chart continues to Bullishness. which is a longterm view.
FOLLOW
Axis bank have multiple support levels to look out Checkout charts for price levels
Even though Ashok Leyland doesn't fit our investing framework, posting this in case it will be useful for already invested investors
Stocks dont double over night They need time some time months some time years If you see the 3M India in longer time frame stock doesnt move for years. That is when you ability will be tested and who stayed in the course will only be rewarded at the end So as an investors be patience until noting changes fundamentally in a company
How to trade Cup and Handle pattern? The Cup and the handle pattern is basically the retracement from the prior top to about 1/3rd of the vertical height of the cup. Cup and Handle pattern can be seen both as a bullish continuation or reversal pattern. Cup The Cup is usually “U” shaped and may be considered as a rounding bottom with almost equal highs...
Considering the impact of Loan Moratorium and Upcoming foreseen rise in NPA, PNB could slip below 20. PS: Idea is just view, not any buy or sell recommendation