As i told in my previous analysis that if price again goes down below this prvious 5 tops pattern support
it will go down much lower and it went.
now there is a high chance that price may again try to climb above this 5 top resistance ,today, and if it
happens than you may see a good upmove.
but if it crosses down below 43803, you may see 43432 level.
In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
Script...
A shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If...
Self explanatory elliot wave chart if breaks previous swing high it will reach min. 550.
Alternatively it can wave X of WXY with W being flat but less possibility. Tomorrow open will decide whether it will go to 550 or again test 510-500
1. Major trend is Bullish
2. RR is lucrative about 1:5, if trade with aggressive SL
3. If target is 545 levels then keep room for price to move and wait for closing SL below 322
4. If trend changes and price to reverse then follow 305 level as SL
retest on the fvg ob and old high leading to a move to the upside hitting the -1 fib level taking out the highs on its way following the daily bias after rebalancing the daily imb and breaking the intermediate term high
In nifty the market break previous high and formed a new poi at 18205-18225
the point to make poi valid is it has a fair value gap at18260-18325
NOTE;This analysis is only valid if market does not take the high at18660
Pick a list of 100-200 fundamentally strong stocks - large market cap preferably (Sml market cap only if you dont want to use stop losses and have faith in the stock)
go to the monthly chart
identify the all time high
then draw a line at the wick of the first candle that wipes out the all time high candle completely.
now make another list with all the...
ICICI PRUDENTIAL Looking good for upside..
When it break level 468 and sustain.. it will go upside...
Target
1st 471
2nd 474
Enjoy trading traders.. Keep add this STOCK in your watch list..
Investor are welcome..
Today, I will like to talk about GOLD. which has given us quite interesting price action. The trend has change to Bullish on M15, so I will looking for buying opportunity from that POI
BankNifty Future Analysis for Today 1st June 2023
As per our #analysis for #BankNiftyFuture, we are expecting these Intraday levels today, kindly check the charts on 15 min time frame and act accordingly.
#IntradayLevels
Disclaimer : All the provided levels are for #educational purpose only, please do your own analysis before doing any trade in the live...
Finnifty now following the banknifty trend. finnifty formed a cup and handle formation so it can go upto 19598 level.
buy above 19484 target 19515, 19555,19601
sell below 19345 target 19288,19252, 19219
