Chart Analysis of Barbeque Nations HOSP.LTD
Chart Analysis- On the hourly TF we can see that two patterns are formed – Symmetrical triangle and flag pole pattern- so its bullish sign we can confirm from 2 indicators RSI is above 50 which good to buy and In DMI indicator we can see that DI+ line is above 32 and ADX line is also supporting which is above 20
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Daily
Price Action - Triangle Breakout from Bottom
RSI > 60 Bullish
MACD - Buy Signal
Bolinger Upper Band - Broken which indicate momentum
ADX needs to increase to pick more momentum
Weekly:-
MACD needs to turn Buy signal
Futures data:-
Long Buildup on breakout
1) PA - Channel/Trendline breakout from bottom
2) Daily MACD Bullish
3) RSI > 60
4) DMI/ADX turning up
5) Reality Sector is bullish
6) According to FII Investment data FII and pumping money in Reality Sector
1 Daily TF
PA - Channel Breakout
BB Upper band break
RSI>60
ADX Increasing
Weekly
BB Break
Futures near the expiry
Current month closing position and rolling over to next month
Hey Everyone!
Here I will apply something known as Average Directional Index (ADX).
As we know, the ADX line indicates the strength of underlying trend, be it upwards or downwards. It is composed of two other lines, +DI(green) and the -DI(red) line.
It indicates, how strong or weak the buyers or sellers are.
Few traders use this to understand the reversal of...
