Trendline still not broken (price near trendline and in consolidation mode around 15600 to 15900 This week the nifty closed at ATH and managed to close at upper levels. Making small momentum candles (can break either side, p.s. Major trend is up) Strong support at 15300 levels A decisive close above 16000 with a catalyst is needed to enter new territory. This weak...
ONGC weekly chart is exhibiting confluence of three different trendlines: 1. An upward sloping trendline from Nov'20 2. A downward sloping trendline from Jan'18 3. The horizontal trendline at 120 price range The price is is a super interesting place and we will be watching where the it will go from here, ready to bring out our ammo, whether it breaks up or down.
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
If PEL breaks the highlighted zone next target will be 1000
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.
DXY exhausted right now, after pullback expecting a sharp rally toward the 100 mark