today's close based buytoday Day's candle closing above the resistance line can lead to more upside in near future
target open
option trade to enter will be shared once buy triggers
for now its on radar
disclaimer - for education purpose only
Closingprice
closing based salekey points :>>>>>>>>>>
50 ema = 218.5
aws osc = -4.86
rsi = below 45
1 month low = 217.55
strong fall supported by volume
keep on radar
disclaimer - trade @ own risk
WATCHOUT FOR THE CLOSING ABOVE 390!!!Stock has consolidated enough on important levels and looks pretty much ready to give an Inverse H&S breakout above the mentioned levels, a buy is strongly recommended with a stop-loss mentioned on charts for the respective targets. Targets may look too far away but we've seen stocks doing a stellar job and achieving their targets in no time, just chip in!!!
bank nifty view and plan based on today's close note :- if above mentioned conditions are met
trade based view will be shared here next..
disclaimer - personal view
Educational 21: Importance of Closing Price In the above chart, I have a drawn a closing price resistance line in blue indicating a highest candle close on the chart, now the price action needs to close above that previous resistance to indicate further upside movement in the stock therefore we need to wait for the daily price closing in order to determine and confirm the further movement.
In this chart, the price action did go above the marked resistance level (in blue horizontal line) but failed to close above it which indicated selling pressure at higher levels and eventually if it failed to close above the resistance zone then it came down sharply.
Therefore, a trader must wait for the closing of a candlestick in order to determine and confirm the big players further movement in the market.
Lesson: Trade with the confirmation of closing price or candlesticks.
Regards
