In this analysis , PNB analysis been done based upon pure Triangle Chart Pattern , 2 month and 6 month target been given , 2 month target is based upon 1 day time frame whereas 6 month is based upon weekly time frame ,
In my opinion PNB is not fundamentally strong enough hence you should do your own research before betting . BAd news can impact stock performance...
After a long weekly slide, wockpharma is moving into buy zone. check around the marked zone. Learning new idea and seeing differently. can go long after little of retracement.... good luck
We can draw beautiful Action/Reaction setup which is suggesting a price reaction at current level therefore one can book the profit of their long position and be ready for shorting the stock. Those who want to learn and practice it I am giving guidelines as given in his course material
First we draw a Multi Pivot Line : A line drawn across 3 or more pivots...
We can draw Beautiful Multiple Pivot Line capturing the price movement since last 6 months. It is showing that strength is returning as there was big gap bar which was not filled and again today it has made a 3LR reversal bar with gap. Double bottom Neckline at 330 can pose some resistance so defensive trader can wait for the breakout of that level byt aggressive...
The stock has broken all time high but could not sustain. AR set is suggesting price reaction at current level. It is forming Head & Shoulder pattern. One can short the stock here for a target of 260 by providing a stop loss of 301 on closing basis.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Banknifty has fallen almost vertically 10.4% in last 16 bars, so natural question is where would this free fall got arrested. We can try to find the answer in the light of Action/Reaction method. There is a beautiful center-line(Multi-Pivot Line) with 5 touches so it could be considered reliable. AR set based upon it is suggesting that we are now close to the zone...
The stock has broken beautiful center line which could be used for making a Action/Reaction set as explained by Andrews. Today's spike could be due to high volatility in the opening session. Demand is seen at that level. RSI reading above 50 is also confirming the decision so one can go long with following Entry/SL/Target.
Entry 1145
Sl 1105
Target 1225 -...
