Daytradersindia
PowerGrid |Fib Level |Ascending ChannelNSE:POWERGRID is touched the bottom line of ascending channel. Also it's near to the 0.786 Fib levels.
It always respected the channel trendline. So if it breached it can give good down move.
Also there is chance to continue inside the channel. Wait and take the trade, once the direction is confirmed.
Nifty 50 | Ascending Channel PatternNSE:NIFTY is trading at bottom of ascending channel.
Market forms a structure of Higher High and Higher Low. It's a confirmation of clear uptrend.
Till now there is no rejection from bottom levels.
We have to wait for direction confirmation.
Keep an eye on global cues. Us plans to send troops to Europe. Fear in global market will reflect in Indian market too.
Happy Trading!!!...
LIC Housing Finance | Falling Wedge NSE:LICHSGFIN Forms Falling wedge.
Not just Falling wedge trendline resistance, it also has static resistance above the current trading levels.
if it breached the resistance zone we can expect good upside move.
Now it's showing rejection from the trendline resistance.
Keep an eye on the stock.
SBIN - Fibonacci Levels - ATHNSE:SBIN is nearing to all time high 543.
It reached the previous All Time High (ATH) resistance zone and trendline resistance level.
On Jan 28th it showed the rejection from top with good bearish candle and Jan 31st it forms a good bullish candle.
Based on the market direction take the trade.
Dabur : TrendLine - Head & Shoulders NSE:DABUR Two major chart patterns at same spot.
It forms Head & shoulders pattern which suggests more fall in the stock. At the same spot, stock is taking major Trendline support.
If it breach the trendline support zone, we can expect good and quick fall in the stock.
But if it takes the support, we have to wait for direction confirmation.
Strides Pharma - Support Zone NSE:STAR is trading near major support zone.
Also the 38.2% of the fibonacci level lies in that support zone. which indicates the strength of the bulls in that zone.
but we can also see that it forms a Descending triangle pattern which indicates more fall in the stock (Theoretically).
Do your own analysis and wait for the direction.
SMS Pharma Ascending channel patternNSE:SMSPHARMA
- Two ascending channel patterns (one long period & one short period).
- Breached long period channel and retested the top channel.
- Still traveling inside short period channel.
- SMS pharma is a good bet but wait for the good entry.
Note: Personally waiting for some dip. It never had a major fall after the recovery from April 2020.