200 is acting as support but its been tested too many times... Lower highs structure is bearish for the stock. I am betting on it to break and move lower towards 185 and then 175 and maybe even lower. Invalidation of the structure will be higher low and higher high.
Made a double top recently. Now also its look weak. SL and Target mentioned.
Could go for a last kiss and fall back. Please do not trade based on this analysis, it could go wrong drastically. Do your own analysis before taking trade. I'm beginner and try to learn and help others.
bearish alkem inverted w breakdown , supported with volume
Analysis of supply and demand on bar charts using wyckoff Distribution
As Nifty completes its 5 Waves, Wave A and currently completing wave B Followed by C which is expected down side for a approx target of 13882.
NSE:M_M has formed a dark cloud cover. Even the RSI is High. I expect a small correction to occur.
banknifty close above 34200 on Day base market bullish
Bearish RSI Divergence on multiple high time frames. Weekly RSI at 96 keeps bother me at this level. Send it south.
A 30min chart shows that price has halted at its support level which if broke we can see the target of 712-710 with a strict SL of 750 levels. But if it retraces to 750 level then we can get a discounted price to short the stock with a strict SL of 765-770 area. It all depends on the Broader market view so do look for Nifty and Nifty Metal indices before shorting.