LONG TERM BULLISH STRUCTURE OF NIFTY 50 IS INTACT.
In Short Term we might see some pullback due to 2 reversal patterns and also formation of head and shoulders
Support levels have been discussed in the chart.
Reasons for pullback
1.Weak global cues
2.Rising crude prices
3.Bearish engulfing pattern
4.Island reversal pattern
5.Formation of H&S
TCS is showing signs of bearishness..
• Ascending triangle pattern breakout seems reached the target (For this pattern targets usually will be the width of current triangle pattern as shown ~16%)
• Daily Trend far away from 200 EMA
• Uptrend is in pause mode
• Bearish Abandoned Baby pattern (last 3 candles) formation seen (very rarely this kind...
There is a three scenario in Nifty.
1. If Nifty give the gap up opening above 15900 then it goes down till 15760.
2. If Nifty gives gap down Opening so 14760 will be the strong resistance from down to upside.
3. If Nifty give normal opening then market should go down according to last bearish engulfing candle.
So what's your view. Comment below
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 8-10 times.
So here is an analysis of another index 'SENSEX'. Let us understand price action of SENSEX in detail! (OPEN THE CHART FOR BETTER UNDERSTANDING)
Firstly, if you have a look at the second last (green) candle here, it is clear that this candle was not able to sustain above a major resistance line (yellow line).
Secondly, today the price shot up the major resistance...
I'm expecting a breakdown (maybe the stock can take support at the level and possible for a double bottom and move upwards)
The Reason Why I'm bearish:
1.Bearish Engulfing at channel resistance
3.Nifty looking weak
4.Rangebound breakout will be very effective.
5.Avoid taking long for this month(index looking weak )
Disclaimer: Please consult...
AMARA RAJA BATTERI @ Make or Break & Trend Based Fib Extension
BEARISH ENGLUFING PATTERN formed in 4hr Candle /Daily candle , If immediate support fails downtrend may be seen with next support 712 followed by 723.
766 is immediate support and Board meeting - Results on 22 May 2021,
Upper side Targets : 826 ,863, 892, 922
There’s a huge price rejection by bears at the top levels - look at the candles showing bearish engulfing the green candles in the charts.
Tgt - 100-200 points
SL - 200 points
You may also enter PE position of 2400-2300 or Short CE above 2500
Would like to know your views too. Pls comment.
Dixon has seen a massive uptrend and also in the upper band of RSi (80) and also formed bearish engulfing, so in short term, we can see a good correction.
What is bearish engulfing?
- A is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick...
Euro against Dollar pair, is looking bearish in the 3rd week of October, When you see the monthly chart, bearish Engulfing September month candle still expect to send the price down , in short term view, we can expect the price go down till 1.16 area this week
Note - Price action analysis for education purpose only
In the next few days, BANKNIFTY can potentially break the major level of 23000. The stock can go in a bearish trend if BANKNIFTY can break the level. As seen in the chart, 23000 was a major resistance level. But BANKNIFTY was able to break that level. Now 23000 is a major support level for the same.
1) The stock price has crossed EMA200 and went...
Shree Cement is on a clear downtrend. But the W pattern would make one think that downtrend has come to an end as it is a bullish reversal pattern seen at the end of a downtrend.
Here's why I'm short:
1) Bearish engulfing candle. (right at important level where if it crosses above, would make one to take a long position)
2) Bearish engulfing candle after a nice...