Price action is moving towards long term trend line support. Trend lines are the first thing any analyst should have learnt to draw when they start to learn about technical analysis. Its a very simple tool but most effective.
If it breaks below 50 EMA on 30 mins chart and sustain then it can go up to approx. 162 with stop loss of 182 and further down to 155 & 145.
if it respects the 50 EMA on 30 min chart then it go up to 182 with stop loss of 162 and above 182 it would create new highs.
At each support or resistance watch for candle stick patterns like continuation pattern or...
Naukri is already trading at near recent life time high.
Seems like it is in a range, there are was huge selling volume on 8th nov.
It may retract to lower levels on previous supports or as per Fibonacci levels.
Need to wait for the buying opportunity
HDFC AMC making higher high & higher low, it is in uptrend since long time. Expecting it to move further.
I would like it to buy at next correction which would next higher low :), will wait for that. Current levels also good to buy if you want to hold it for longer time period.
There has been single side move on weekly timeframe since Apr 2019. Now expecting correct to happen at least till 38% (530) or 50% (494) Fibonacci levels, that would be good buying opportunity.
But not sure it would come to that level or not.
On weekly chart it is closed below 50 EMA
For learning purpose if you look at the weekly chart - there was consolidation and then it gave breakout on upside.
It closed above the 50 EMA from the consolidation range and then rally continued further.
It was good opportunity for buy
There was rejection from 50 EMA on weekly chart (see very long wick), next or next to next green candle was also good...