BPCL breaks down after a period of consolidation. Apparently, price action is showing a Bear Flag pattern, which will be confirmed if the running candle closes below 376.40. Target of the pattern comes in at 334 levels.
AS PER THE PREVIOUS TRADE CALL ON YESBANK HAS BROKEN
OUT OF THE DOUBLE BOTTOM FORMATION
AND HAS MANAGED TO GIVE A PERFECT PULLBACK
SIGNS ARE GOOD TO GO LONG SO WE ARE ENTERING INTO
A POSITIONAL TRADE FOR THE COMING TW0 WEEKS
Hi Guys, I was busy over last few days hectic schedule & in coming days also it looks like that but I try to post as n when I get time. Regarding PM's people say that I'm online but not replying, No guys, browser tab will be minimized most of time & so it will show I'm online but I won't even be around the trading desk :)
Here in our Nifty, its breaking bad...
First I had mentioned Gap Up n Down scenario's in Banknifty but as market opened I have changed it to one-sided scene.
(i) If trendline violated to upside wont sustain for longtime max 21650's only, then reverse to down
(ii) Touch n Play with trendline from Downside & Straight move to down
Today weekly expiry right ? Extreme guess work, BankNifty may reserve...
It is been observed that nifty -0.48% is in the final leg of Descending triangle on 15 Min chart. 15th Dec 0.89% opening will be the crucial level for Nifty -0.48% .
If open below 8170 will take it to immediate support 8150 levels which is a crucial support at present scenario. In case nifty -0.48% could not sustain at 8150 will take it to further down of 7910...