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INDUSINDBANKThis stock is forming head and shoulder pattern on weekly time frame, that can be a big bearish ahead. Right now we are at mid. Bollinger on daily chart, at 20DMA once its break and close below 20DMA then that would be a trigger point, Overall wave structure is also suggesting corrective structure ahead, after completion of impulse waves, we are in corrective phase as a zig-zag pattern as a A-B-C, possibly wave A and B are completed and right now we are in wave C of zig-zag, which can subdivide into 5 waves, if wave A and C are going to be equal then we can see 670 to 675, and on upper side nearest swing high and RK's stop line of weekly and daily would be a hurdles to watch out for, which are pegged at 1029, 950 and 925. Overall wave structure on weekly chart Reverse Divergence Corrective wave structure RK's Momentum sell signal activated Mass psychological cloud and rk's stop line both in sell mode Price at 20DMA, ready to break Head and shoulder chart pattern in weekly, yet neckline to break Macd in weekly already in negative mode Macd in daily is down tick and converging towards south, that too below zero line Rsi in weekly down tick below 50 Rsi in daily down tick below 50 Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:INDUSINDBKShort
by RK_Chaarts
AXISBANKAxisbank has given good breakdown of 20HMA along with bottom of parallel channel in hourly and apart from theses it has also broken support trendline with good intensity of volume. This stock has fallen below 20DMA which is pegged near 668, Also recent rally ended at RK's Stop line (key level line) near 700. Overall wave structure is suggesting that corrective phase is going on as a wave W-X-Y, where after completing wave W & X, now wave Y is unfolding as a zig-zag pattern, and in wave Y possibly wave A and B has completed and now wave C is unfolding, If wave C is going to be equal to wave A then we are directed towards south near 540 areas. significants Overall wave structure on daily time frame chart Rejection at RK's stop line along with RK momentum sell activated RK's momentum is also turning negative crossover in daily chart macd in hourly running negative MACD in daily turning/converging Negative below zero line MACD in weekly running Negative below zero line RSI in daily down tick and near below 40 RSI in hourly down tick and below 40 Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:AXISBANKShort
by RK_Chaarts
BANKNIFTY ANALYSIS ONE MUST KNOW WHILE TRADINGSYMBOL: NSE:BANKNIFTY Banknifty is at a crucial point in the weekly time frame, it has closed below the support zone after hovering over that for almost 1 Year. Selling can be accelerated after a retest is done. Still, if the price closes above 34500 somehow it can be a temporary relief and after some time bears can again try to push BNF down because this year it's the second attempt so one has to be cautious on both the Sides and book profits fast.
NSE:BANKNIFTYShort
by Gagan_ahuja