NIFTY in consolidation after hitting high near channel top 18115NIFTY in consolidation after hitting high near channel top 18115
down side 17700---17800 is the support zone based on following analysis:
support :
20 ema : 17750
critical trend line (white) support near 17740
gap to fill support : 17688
note : LRHR (Low risk high reward opportunity ) will be finding selling opportunity near channel top
and finding buy on dip opportunity near channel support till it breaks out
Consoldiation
Bank Nifty - Harmonic PatternBank nifty had broken all the previous supports today and is expected to continue its down trend. As bank nifty is overly sold, a pull back rally can be expected before it continues its down trend. Currently, Bank Nifty is sell on rise mode and one can expect a reversal from the marked harmonic level.
Accumulation in Goa carbonFor almost 2 years stock is stuck in marked range.
This accumulation is preceded by downward move.
Hence we can conclude that it is accumalation phase. Volumes also increased durin this consolidation.
Stock exactly blunced from the earlier breakout levek of 134 from where kt gave multifold returns.
Expecting a consolidation breakout.
Longer the consolidation powerful is the breakout.