This post is for people who do not believe that technical analysis works.
We gave this call in our ................... On 12th November 2020.
Till 19th November, it was showing small movement of 1 to 2 %.
But we waited.
Then finally a 17% move in a single day!
In technical analysis, we can find good opportunities but
we don't know when the stock will start...
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Descending Triangle Definition:
An Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high .
It is defined by two lines:
.A horizontal support line running through valleys.
.A Downtrend line drawn through the peaks.
The lower highs...
I was wondering who is pushing the Bank Nifty, so I decided to visualize this by this simple comparison.
The three major PSU banks are compared with the NIFTY BANK there market cap is as follow
3 (25%) PSU banks out of 12 holds 28.05186836 % of NIFTY BANK VALUE.
9 (75%) Private banks out of 12 holds 71.94813164 % of NIFTY BANK.
...
Crude oil has given a fresh breakout after weeks of consolidation. This breakout could test $ 45, 48 & 51 (INR 3250, 3500 & 3800) provided it does not retrace beyond $41.30 (3070)
It has given a breakout in daily time frame suggesting further upside till weekly resistance at 370 then 390. Negation for this view would be below hourly Kijun at 340.
Ichimoku is a Japanese origin study based on a cluster of specific Moving Averages corelating Price and Time of a trend.
As per Ichimoku Multi Time Frame Analysis it has given a bullish breakout in hourly time frame and a close above 321 would confirm so in daily time frame also. As long as it sustains above 316 it could continue the uptrend till 350
