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Andrew's Pitchfork

Tata Power: Nice Short-term OpportunityThere are times when one should tweak their trade expectations and look for trades that will last for a shorter duration. Tata Power has been in an uptrend for a while and after a nice correction, price has formed a strong green WRB yesterday. If the uptrend resumes, the next resistance / target would be the medianline of the magenta fork, followed by the upper parallel of the red trend channel. Am looking to buy this stock. Plan your trade and position-size judiciously.
NSE:TATAPOWERLong
by techtrail
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday. The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty -0.96% . For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry from a long term perspective.
NSE:NIFTY
by techtrail
Nifty: Price Hits MedianlinePrice has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday. The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty. For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry.
NSE:NIFTY
by techtrail