Comment below your view on CNX Energy sector will it break the trend line....?
As you can see price is near recent high but strength is not same, daily chart also shows weakness so may be in coming session this sector retrace..whats your point view about this comments below
In correlation flow breakdown watch: CNXCOMMODITY vs U.S. Dollar Index . With dollar near support levels possibilities of bouncing off may also force commodities to take a breather.
Analysis based on technical parameters(No Noise) The rally that we are witnessing is far from over as far as metal stocks are concerned...On monthly chart what I analyze, "A" wave have completed and c of "B" wave is under prog....tgt for the index is as given in the chart...However selection of particular stock from the corresponding sector is...
IF INDEX CLOSE BELOW 8450 , RECIPROCAL AB=CD PATTERN WILL BE ACTIVE & IT WILL REACH 7600 . TRADER SHOULD ALSO CARE ABOUT FIBONACCI LEVEL & GANN FAN .
We are looking at a 8 year Nifty IT chart Lets see what the chart is trying to tell us... - Between 2009 to 2015 the price has risen from 1933 levels to 12908 levels - Since Jan 2009 till March 2015 the index has been making higher top higher bottom - It is only after March 2015 that the index is seen making lower top lower bottom on a regular basis Hence...
NSE:CNXAUTO is following classical elliot wave theory. Wave A-B-C in progress