Another stock that has created a perfect box at the top. It has touched it's resistance 4-5 times already and even touched it's support multiple times but now it is sticking to higher levels and looking like soon the breakout is to happen.
Target is as usual difference of the box which i have marked with green marking.
I have already posted some charts in same...
Bajaj Auto is one of the renowned names in 2 wheelers segment.
If we look at this chart which is weekly it is showing that it has been in a consolidating phase since last Oct 2017 which is more than 3 years of consolidation. Now it is trying to go out from the consolidation zone. It has tested its resistance already for 4-5 times.
Even in Monthly chart signs of...
NELCO is in love with box price action.
Prices consolidate in boxes and then breakout in either direction causes uptrend or downtrend.
Earlier there was a downtrend post every breakout down from the box.
Scrip is in uptrend now, and boxes are shifting to higher price levels.
Next box will be parallel to previous box price zone.
Breakout has happened yesterday...
After a consolidation this stock broke the box at down side. Sellers can look for target of 5600 and buyers can look for opportunity of buying near 5600.
Volume indicating a downfall/offloading .
Keep an eye folks.
This is just my view not any recommendation. Trade with your own risk and be cautious.
Greetings friends. I'm excepting the market to reach a level of 567 If it breaks the box. If not, buy and it's target is the previous upper box level. Make sure you catch it. Hope y'll find this useful. G'day guys.
This is weekly chart of PFC on NSE (INDIA) with CMP @ 94.75. It looks a good long trade based on observations as illustrated below:
1. Please refer the support line drawn on the chart which acted as strong support at multiple times (tested on 8th Feb 2016, 25th April 2016 & 16th July 2018).
2. Please refer strong resistance line drawn on the chart from where...