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Bolingerband

Godrej Consumer - Weekly Trendline breakout Godrej Consumers has given a long awaited breakout above a 14 month long trendline. It went sideways for around 8 weeks before closing above the trendline on weekly basis. The BB is challenged and RSI has closed at 60, both are bullish signs. The consumer sector has underperformed in last 3 months and Godrej has been on of the best performers in this sector in that period. Immediate resistance or clutter zone is between 950-975, close above these levels will increase the speed of this stock. Entry level: 947-930 Target 1 = 1065 Target 2= 1135 Stop Loss = 895 on closing basis (Below the hammer candle in weekly)
NSE:GODREJCPLong
by architmahajan096
1
CHANCES TO REVERSAL AT HIS NECKLINE!!!BANKNIFTY:-We can see here how Bollinger band,Gaps,DMI,RSI & Fibbonaci retracement work as a conformation if it mix with chart patterns. See late April how Doji made by gap up its upper weak is out of Bollingerband,DMI also taking a crossover there next day it was a negative crossover.See at mid May first green arrow it was a Bullish Harami pattern and it was a out of band but it didn’t go up see second green arrow it was a Harami & DMI also given a positive crossover.See at early June a Doji or a Grave stone was madeit was a sign that reversal is near then stock tried to break the 65 EMA but it didn’t work it was a strong sign of bulls losing their steam taken a soupport at 20MA.See how stock taken a soupport at 65EMA. In late August stock was taken a resisitence of march Gapdown and also 50% retracement,see RSI & DMI showing at their high it was a sign reversal.See at late SEP stock was at 50 of its prior rally also made a Tweezer bottom see RSI at his low also crossed little bit Bollinger band. Now stock made a Hanging man tap at his Bollinger band,RSI & DMI showing Overbought.It was also near its strong Resisitence I WAS FORECSTING A BOUNCE BACK TO NEAR ITS NECKLINE!
NSE:BANKNIFTYShort
by ChartAnalyst365