As asked on twitter about your favourite stocks for us to analyse share our views upon, here are few selected stocks with details as where we are expecting prices to be.
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Telecom sector had been out of flavor for a long time now.
However the current chart pattern reflects things have changed and possibly changed for the good. Bharti Airtel has now broken above the parallel channel after 12 long years.
Could this be a signal that the worst is over...
Only time will tell.
But the current setup suggests...
As mentioned in the chart, After a long bull run, the stock should retrace to the mentioned demand level.
so if you would get the supply area buy nearest otm put option for making better money
As we can clearly notice that the stock has taken support at multiple levels and the short term RSI has got oversold. The volumes on the falling candles is not too great. All these indicate that the move down may be corrective. The RSI is into bullish zone with MACD above 50 levels. This also indicates strength. 501 – 502 may be seen as a minor resistance above...
The stock has been trading in a range from past 10 years or so , every time it tests lower range it bounce back toward the upper end of the range , and every time it tests the upper range it pulls back towards the lower end of the range.
Similar price action has also been seen near the range support and resistance.
1.) Stock bounces every time it tests .786 Fib support of all-time low and high
2.) Holding this support since Oct 2008, for 10 long years.
3.) Stock always bounces when RSI came near, at or went below 40.
4.] Similar Price Action near Support Range of 240-260
Airtel today, showed movement aroud 30 % in the stock price. The heavy OI change was reason backed by this rush. Also Airtel, had seen around 2000 OI change on 14th November as well.
Please check out the Participant wise OI involvement on the NSE Website for 15th November, 2019. The long positions by retail clients and short by FII, DII and PRO's, could be the...