ATH
ACC Crossed All Time HighThe stock ACC has successfully crossed ATH level of 1870 and is currently trading above 1900. It has retraced on the daily chart to the ATH and has seen bullish push from the retracement. The stock looks like a good buy from here with the target of 2450 (1.618 Fib retracement).
Is it gone blow upward ???Nice VCP pattern.
also a 16 week cup and handle base.
gave a BO of upper trendline (early entry) and little pullback the next day.
Exact entry pivot is above 263.
volume is very quiet.
Price at ATH. so open target.
Nifty & Bank Nifty side by side comparison Today NIfty hits ATH but for Bank Nifty, It's a still long way to go ( 7% + from its ATH), although Bank Nifty broke parallel channel on the day frame chart.
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk
SOLO close GAPIt will be the same scenario, a correction then an impulse,with a high probability.
Obs! it is not a buy recommendation.
BSE:SENSEX is at ATH but rejected by a 15 month old trendlineBSE:SENSEX has recorded a All Time High today(26-Nov-19) but it was rejected by a trendline that extends from August 2018 till today. If this trendline is broken on a daily closing basis then I am expecting SENSEX to continue to the upside.
Nifty showing signs of continuing bull run and making ATHA little non-streamline opinion again, ppl are carrying shorts due to formation of doji's in Nifty, but personally I feel we are still in very strong trend, yes there are very less chances of repeating things like "Only 4 times nifty given 6 continue +ve close in 2019" up and it can be very sharp correction when it comes, but I feel that will come after ATH, or at least near 12075-12150. So expecting rally till at least 12075.
Reason for my opinions are simple, I see very strong ichi cloud there and price didn't even manage to touch it on last dull Friday, its a sign of buying and till that buying is there one can assume that trend will be kept. There is reason why following trend is most rewarding strategy after all. It keeps complications limited and gives maximum RR without you actually having to judge tops and bottoms, that's a game for different league of players, we are trend riders, so we should ride them till strong sign of reversals. Carry strict SL around Friday low for positional till we hit ATH, if we slide above 11955 you can shift SL to there and hope to catch maximum of rally till ATH.